Open Text (TSE:OTEX) Posts Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Key Points

• Open Text reported quarterly earnings of C$0.97 EPS, beating estimates by C$0.14, although it was lower than the previous year's C$0.98 EPS.
• The company has announced an increase in its quarterly dividend to $0.275, raising the annualized dividend yield to 2.8%.
• Open Text's stock is currently down 2.8% following the earnings report, with the stock opening at C$38.65.

Open Text (TSE:OTEX - NASDAQ: OTEX posted its quarterly earnings results on Thursday. The company reported C$0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.83 by C$0.14, RTT News reports. Open Text had a net margin of 12.21% and a return on equity of 15.83%. During the same period in the previous year, the firm earned $0.98 EPS.

Open Text Stock Down 2.8%

OTEX stock opened at C$38.65 on Friday. The company has a quick ratio of 1.34, a current ratio of 0.87 and a debt-to-equity ratio of 157.46. Open Text has a fifty-two week low of C$32.41 and a fifty-two week high of C$47.52. The firm's 50-day simple moving average is C$39.54 and its 200 day simple moving average is C$38.60. The stock has a market cap of C$7.13 billion, a PE ratio of 10.93, a price-to-earnings-growth ratio of 1.35 and a beta of 1.12.

Open Text Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors 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 dividend yield of 2.8%. This is a boost from Open Text's previous quarterly dividend of $0.17. Open Text's dividend payout ratio (DPR) is 40.16%.

About Open Text

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.

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