Open Text (OTEX) to Release Earnings on Thursday

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC is scheduled to be announcing its earnings results after the market closes on Thursday, May 2nd. Analysts expect the company to announce earnings of $1.00 per share for the quarter. Parties interested in registering for the company's conference call can do so using this link.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last released its quarterly earnings results on Thursday, February 1st. The software maker reported $1.11 EPS for the quarter, topping the consensus estimate of $1.10 by $0.01. Open Text had a return on equity of 22.99% and a net margin of 2.24%. The business had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.48 billion. On average, analysts expect Open Text to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Open Text Stock Performance

NASDAQ:OTEX traded down $0.28 during midday trading on Thursday, reaching $35.74. The stock had a trading volume of 761,844 shares, compared to its average volume of 602,676. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 2.10. The stock has a market cap of $9.74 billion, a P/E ratio of 76.19 and a beta of 1.09. The firm has a fifty day simple moving average of $37.95 and a two-hundred day simple moving average of $38.75. Open Text has a 12-month low of $32.04 and a 12-month high of $45.47.

Open Text Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Friday, March 1st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend was Thursday, February 29th. Open Text's payout ratio is 212.77%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on OTEX. StockNews.com upgraded shares of Open Text from a "hold" rating to a "buy" rating in a research report on Tuesday, February 6th. Jefferies Financial Group started coverage on Open Text in a report on Tuesday, February 27th. They set a "buy" rating and a $45.00 price objective on the stock. Citigroup reduced their target price on Open Text from $44.00 to $42.00 and set a "neutral" rating for the company in a report on Friday, March 22nd. BMO Capital Markets boosted their target price on shares of Open Text from $48.00 to $50.00 and gave the stock an "outperform" rating in a research report on Friday, February 2nd. Finally, CIBC increased their price target on shares of Open Text from $42.00 to $44.00 and gave the company a "neutral" rating in a report on Thursday, January 11th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Open Text presently has a consensus rating of "Moderate Buy" and a consensus price target of $46.25.

Open Text Company Profile

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.