Open Text (OTEX) to Release Earnings on Thursday

Open Text (NASDAQ:OTEX) (TSE:OTC) is expected to announce its earnings results after the market closes on Thursday, February 6th. Analysts expect the company to announce earnings of $0.92 per share and revenue of $1.32 billion for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

Open Text (NASDAQ:OTEX) (TSE:OTC) last posted its earnings results on Thursday, October 31st. The software maker reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.13. Open Text had a return on equity of 24.34% and a net margin of 8.35%. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the company earned $0.90 EPS. The company’s quarterly revenue was down 11.0% compared to the same quarter last year. On average, analysts expect Open Text to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Open Text Trading Down 0.7 %

Shares of OTEX opened at $29.23 on Thursday. The stock has a market capitalization of $7.71 billion, a PE ratio of 16.90 and a beta of 1.12. The company’s fifty day moving average is $28.94 and its 200 day moving average is $30.70. 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 fifty-two week low of $26.84 and a fifty-two week high of $45.47.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on OTEX shares. Scotiabank decreased their target price on shares of Open Text from $40.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Friday, November 1st. Royal Bank of Canada downgraded Open Text from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $45.00 to $33.00 in a research report on Friday, November 1st. Citigroup dropped their target price on Open Text from $33.00 to $30.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. UBS Group assumed coverage on Open Text in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 price target for the company. Finally, TD Securities dropped their price objective on shares of Open Text from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, December 30th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus 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.