Open Text (NASDAQ:OTEX) Announces Earnings Results, Beats Estimates By $0.10 EPS

Open Text (NASDAQ:OTEX) (TSE:OTC) announced its quarterly earnings data on Thursday. The software maker reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.10, Zacks reports. Open Text had a return on equity of 24.34% and a net margin of 8.35%.

Open Text Stock Performance

OTEX traded down $0.86 during trading on Thursday, hitting $29.53. The stock had a trading volume of 893,542 shares, compared to its average volume of 572,111. The firm has a market capitalization of $7.79 billion, a P/E ratio of 17.07 and a beta of 1.12. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.79 and a current ratio of 0.79. Open Text has a twelve month low of $26.84 and a twelve month high of $42.17. The company’s 50-day moving average price is $28.92 and its 200 day moving average price is $30.65.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on OTEX shares. UBS Group started coverage on shares of Open Text in a research report on Tuesday, December 17th. They set a “neutral” rating and a $32.00 price target for the company. StockNews.com cut Open Text from a “strong-buy” rating to a “buy” rating in a research note on Monday, January 27th. Citigroup reduced their target price on shares of Open Text from $33.00 to $30.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. BMO Capital Markets decreased their price objective on shares of Open Text from $33.00 to $32.00 and set a “market perform” rating for the company in a research report on Friday, November 1st. Finally, Scotiabank dropped their target price on Open Text from $40.00 to $35.00 and set a “sector perform” rating on the stock in a report on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $35.27.

About Open Text

Open Text Corporation provides information management software and solutions. The company offers content services, which includes content collaboration and intelligent capture to records management, collaboration, e-signatures, and archiving; and operates experience cloud platform that provides customer experience and web content management, digital asset management, customer analytics, AI and insights, e-discovery, digital fax, omnichannel communications, secure messaging, and voice of customer, as well as customer journey, testing, and segmentation.