Magic Software Enterprises (MGIC) Projected to Post Earnings on Wednesday

Magic Software Enterprises (NASDAQ:MGIC) is expected to be issuing its quarterly earnings data before the market opens on Wednesday, March 12th. Analysts expect the company to announce earnings of $0.25 per share and revenue of $137.00 million for the quarter.

Magic Software Enterprises Stock Performance

Shares of MGIC opened at $12.85 on Tuesday. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.13. Magic Software Enterprises has a 52-week low of $9.51 and a 52-week high of $13.46. The company has a 50-day simple moving average of $12.51 and a 200-day simple moving average of $11.80. The company has a market capitalization of $630.92 million, a PE ratio of 18.36 and a beta of 1.11.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MGIC shares. StockNews.com downgraded Magic Software Enterprises from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 26th. Barclays upped their price target on shares of Magic Software Enterprises from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th.

About Magic Software Enterprises

Magic Software Enterprises Ltd. provides proprietary application development, vertical software solutions, business process integration, information technologies (IT) outsourcing software services, and cloud-based services in Israel and internationally. Its Software Services segment develops, markets, sells, and supports application platform, software applications, and business and process integration solutions and related services.