Magic Software Enterprises (NASDAQ:MGIC) Releases Earnings Results, Misses Expectations By $0.01 EPS

Magic Software Enterprises (NASDAQ:MGIC) released its quarterly earnings results on Tuesday. The software maker reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01), Zacks reports. Magic Software Enterprises had a return on equity of 15.42% and a net margin of 6.49%.

Magic Software Enterprises Trading Up 8.4 %

Shares of Magic Software Enterprises stock traded up $1.08 during trading hours on Tuesday, hitting $13.93. The company’s stock had a trading volume of 99,053 shares, compared to its average volume of 52,399. The firm has a fifty day moving average of $12.51 and a 200-day moving average of $11.80. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.76 and a current ratio of 1.76. The stock has a market cap of $683.80 million, a price-to-earnings ratio of 19.96 and a beta of 1.11. Magic Software Enterprises has a twelve month low of $9.51 and a twelve month high of $14.24.

Analyst Ratings Changes

A number of research firms recently weighed in on MGIC. Barclays boosted their price target on shares of Magic Software Enterprises from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. StockNews.com lowered Magic Software Enterprises from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 26th.

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.