Open Text (TSE:OTEX) Hits New 12-Month High - Here's What Happened

Key Points

• Open Text's share price reached a new 52-week high of C$47.76 during trading, reflecting strong market performance with a volume of 885,775 shares exchanged.
• The company recently increased its quarterly dividend to $0.275 per share, up from $0.17, offering investors a yield of 2.3%.
• Open Text reported better-than-expected earnings with an EPS of C$0.97, surpassing analysts’ consensus estimate of C$0.83.

Open Text Co. (TSE:OTEX - Get Free Report) NASDAQ: OTEX hit a new 52-week high during trading on Tuesday . The company traded as high as C$47.76 and last traded at C$47.60, with a volume of 885775 shares changing hands. The stock had previously closed at C$46.66.

Open Text Trading Up 1.3%

The company has a debt-to-equity ratio of 157.46, a quick ratio of 1.34 and a current ratio of 0.87. The business has a fifty day simple moving average of C$42.60 and a 200 day simple moving average of C$39.35. The stock has a market capitalization of C$12.57 billion, a price-to-earnings ratio of 29.95, a price-to-earnings-growth ratio of 1.35 and a beta of 0.87.

Open Text (TSE:OTEX - Get Free Report) NASDAQ: OTEX last issued its quarterly earnings data on Thursday, August 7th. The company reported C$0.97 EPS for the quarter, beating analysts' consensus estimates of C$0.83 by C$0.14. Open Text had a return on equity of 15.83% and a net margin of 12.21%.During the same period last year, the business posted $0.98 EPS. As a group, research analysts expect that Open Text Co. will post 4.9036649 EPS for the current year.

Open Text Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.2%. This is a positive change from Open Text's previous quarterly dividend of $0.17. Open Text's dividend payout ratio is currently 63.64%.

Open Text Company Profile

Open Text Corp grew out of a technology project involving the Oxford English Dictionary at Canada's University of Waterloo in the mid-1980s. Its software allows clients to archive, aggregate, retrieve, and search unstructured information (such as documents, e-mail, presentations). The company is based in Ontario, Canada.