Magic Software Enterprises (NASDAQ:MGIC) Issues Earnings Results

Magic Software Enterprises (NASDAQ:MGIC) issued its quarterly earnings data on Tuesday. The software maker reported $0.24 earnings per share for the quarter, missing the consensus estimate 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 Price Performance

MGIC traded up $1.04 during midday trading on Tuesday, hitting $13.89. The company had a trading volume of 119,457 shares, compared to its average volume of 52,518. Magic Software Enterprises has a twelve month low of $9.51 and a twelve month high of $14.24. The firm’s 50-day simple moving average is $12.51 and its 200-day simple moving average is $11.80. The company has a market capitalization of $681.99 million, a PE ratio of 19.92 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.76 and a current ratio of 1.76.

Wall Street Analysts Forecast Growth

MGIC has been the topic of a number of research analyst reports. StockNews.com lowered Magic Software Enterprises from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 26th. Barclays increased their target price on 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.