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

Magic Software Enterprises (NASDAQ:MGIC) will likely be posting its quarterly earnings results before the market opens on Wednesday, March 12th. Analysts expect Magic Software Enterprises to post earnings of $0.25 per share and revenue of $137.00 million for the quarter.

Magic Software Enterprises Price Performance

Magic Software Enterprises stock opened at $12.09 on Wednesday. Magic Software Enterprises has a 12-month low of $9.51 and a 12-month high of $13.46. The stock has a market capitalization of $593.61 million, a P/E ratio of 17.27 and a beta of 1.11. The firm’s 50-day moving average is $12.48 and its two-hundred day moving average is $11.76. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.76 and a quick ratio of 1.76.

Analyst Upgrades and Downgrades

MGIC has been the topic of several recent analyst reports. StockNews.com lowered shares of Magic Software Enterprises from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 26th. Barclays increased their price objective on shares of Magic Software Enterprises from $14.00 to $15.00 and gave the stock 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.