Open Text (NASDAQ:OTEX) (TSE:OTC) was downgraded by stock analysts at Beacon Securities from a "buy" rating to a "hold" rating in a report issued on Thursday, Zacks.com reports.
Several other equities analysts have also commented on the company. Royal Bank of Canada lowered their price objective on Open Text from $54.00 to $45.00 and set an "outperform" rating for the company in a research report on Monday, April 27th. Raymond James set a $45.00 price objective on Open Text and gave the company an "outperform" rating in a research report on Friday, May 1st. Pi Financial reaffirmed a "hold" rating and issued a $58.00 price target on shares of Open Text in a research report on Wednesday, April 29th. Barclays lifted their price target on Open Text from $44.00 to $50.00 and gave the stock an "overweight" rating in a research report on Monday, July 20th. Finally, TheStreet raised Open Text from a "c+" rating to a "b-" rating in a research report on Tuesday, June 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of "Buy" and a consensus target price of $50.40.
NASDAQ:OTEX traded up $0.15 during trading hours on Thursday, hitting $45.03. The company had a trading volume of 550,960 shares, compared to its average volume of 455,587. The company has a market capitalization of $12.23 billion, a PE ratio of 43.30 and a beta of 0.72. The stock has a 50-day moving average price of $43.12 and a 200 day moving average price of $41.31. Open Text has a 52 week low of $29.11 and a 52 week high of $47.85. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.14 and a quick ratio of 1.14.
Open Text (NASDAQ:OTEX) (TSE:OTC) last released its quarterly earnings results on Thursday, April 30th. The software maker reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.02. The business had revenue of $814.70 million for the quarter, compared to analysts' expectations of $796.47 million. Open Text had a net margin of 9.24% and a return on equity of 7.09%. The firm's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 earnings per share. Analysts anticipate that Open Text will post 2.62 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the stock. Cardinal Capital Management Inc. purchased a new position in shares of Open Text in the first quarter worth about $25,000. Candriam Luxembourg S.C.A. acquired a new stake in shares of Open Text in the second quarter worth approximately $1,200,000. Sowell Financial Services LLC acquired a new stake in shares of Open Text in the first quarter worth approximately $49,000. Parallel Advisors LLC boosted its stake in shares of Open Text by 212.4% in the first quarter. Parallel Advisors LLC now owns 1,534 shares of the software maker's stock worth $53,000 after acquiring an additional 1,043 shares during the last quarter. Finally, Bartlett & Co. LLC acquired a new stake in shares of Open Text in the first quarter worth approximately $68,000. Institutional investors own 65.96% of the company's stock.
Open Text Company Profile
Open Text Corporation provides a suite of software products and services. The company offers content services; digital process automation, which enables organizations to transform into digital and data-driven businesses through automation; and discovery suite that provides forensics and unstructured data analytics for searching, collecting, and investigating enterprise data to manage legal obligations and risk.
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Restaurant Stocks That Still Look Tasty As the Economy Reopens
As part of our national response to the Covid-19 pandemic, many Americans considered it their patriotic, if not moral, duty to support the restaurant industry. And while many consumers were intensely focused on their small, local restaurants, the national chains were still open for business during this time.
And the reality is that the national chains are going to be the most adaptable to whatever pace of economic recovery we see. Hopes for a “V” shaped recovery have pretty much gone out the window. The new model suggests a stair-step recovery may be the best-case scenario.
The worst case scenario for the restaurant industry will be one where different regions of the country are subject to rolling lockdowns. In a business with notoriously low margins, an open/close, open/close recovery would be disastrous.
It’s one reason why I’m not sure I would be diving into restaurant stocks right now. But the same was being said of airline stocks and cruise line stocks. And sure enough, discount investors have been trying to invest in these stocks.
But as all 50 states have now re-opened in some fashion, it’s not unlikely that restaurant stocks are drawing attention from investors. We’ve put together this presentation that highlights seven restaurant stocks that you should consider looking at if you want to dive into this sector.
View the "Restaurant Stocks That Still Look Tasty As the Economy Reopens".