FY2017 EPS Estimates for Magic Software Enterprises Ltd. Lowered by William Blair (MGIC)

Magic Software Enterprises Ltd. (NASDAQ:MGIC) – Analysts at William Blair dropped their FY2017 earnings per share (EPS) estimates for Magic Software Enterprises in a report issued on Tuesday. William Blair analyst B. Suri now anticipates that the software maker will post earnings of $0.50 per share for the year, down from their previous forecast of $0.55. William Blair also issued estimates for Magic Software Enterprises’ Q4 2017 earnings at $0.12 EPS, Q1 2018 earnings at $0.15 EPS, Q2 2018 earnings at $0.15 EPS, Q3 2018 earnings at $0.15 EPS, Q4 2018 earnings at $0.14 EPS and FY2018 earnings at $0.60 EPS.

MGIC has been the topic of several other reports. Zacks Investment Research lowered shares of Magic Software Enterprises from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. ValuEngine raised shares of Magic Software Enterprises from a “hold” rating to a “buy” rating in a research note on Monday, September 11th. HC Wainwright set a $10.00 target price on shares of Magic Software Enterprises and gave the stock a “buy” rating in a research note on Thursday, August 10th. BidaskClub lowered shares of Magic Software Enterprises from a “sell” rating to a “strong sell” rating in a research note on Friday, August 4th. Finally, Barclays PLC reissued a “buy” rating and set a $10.50 target price on shares of Magic Software Enterprises in a research note on Thursday. Two research analysts have rated the stock with a sell rating and five have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $9.81.

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Magic Software Enterprises (NASDAQ MGIC) traded down $0.25 on Friday, hitting $8.60. 23,893 shares of the stock traded hands, compared to its average volume of 32,466. Magic Software Enterprises has a 52 week low of $6.65 and a 52 week high of $9.50. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.55 and a current ratio of 3.55. The firm has a market capitalization of $395.93, a PE ratio of 18.54 and a beta of 0.70.

Magic Software Enterprises (NASDAQ:MGIC) last posted its quarterly earnings data on Tuesday, November 14th. The software maker reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.03). Magic Software Enterprises had a return on equity of 10.42% and a net margin of 4.77%. The firm had revenue of $65.70 million for the quarter, compared to analyst estimates of $62.65 million. During the same quarter last year, the company earned $0.12 earnings per share. The company’s quarterly revenue was up 20.6% compared to the same quarter last year.

Several institutional investors have recently added to or reduced their stakes in MGIC. Dimensional Fund Advisors LP raised its holdings in shares of Magic Software Enterprises by 11.2% in the second quarter. Dimensional Fund Advisors LP now owns 19,858 shares of the software maker’s stock valued at $158,000 after purchasing an additional 2,000 shares during the last quarter. AXA purchased a new stake in shares of Magic Software Enterprises in the second quarter valued at about $176,000. Macquarie Group Ltd. purchased a new stake in shares of Magic Software Enterprises in the third quarter valued at about $518,000. Bank of New York Mellon Corp purchased a new stake in shares of Magic Software Enterprises in the second quarter valued at about $544,000. Finally, Eagle Global Advisors LLC raised its holdings in shares of Magic Software Enterprises by 12.7% in the second quarter. Eagle Global Advisors LLC now owns 79,783 shares of the software maker’s stock valued at $634,000 after purchasing an additional 9,000 shares during the last quarter. 9.29% of the stock is currently owned by hedge funds and other institutional investors.

About Magic Software Enterprises

Magic Software Enterprises Ltd. is a provider of application development, business process integration platforms, vertical software solutions and related professional services. The Company is a vendor of information technology (IT) outsourcing services. Its software technology is used by customers to develop, deploy and integrate on premise, mobile and cloud-based business.

Earnings History and Estimates for Magic Software Enterprises (NASDAQ:MGIC)

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