Open Text (TSE:OTEX) Reaches New 1-Year High - Time to Buy?

Key Points

• Open Text Co. (TSE:OTEX) shares reached a new 52-week high of C$55.84, reflecting a strong performance with a volume of 43,329 shares traded.
• The company reported a quarterly earnings per share of C$0.97, surpassing analysts' expectations of C$0.83, alongside a stable return on equity of 15.83%.
• Open Text increased its quarterly dividend from $0.17 to $0.275, with an annualized dividend yield now at 2.0%.

Open Text Co. (TSE:OTEX - Get Free Report) NASDAQ: OTEX shares hit a new 52-week high during trading on Wednesday . The company traded as high as C$55.84 and last traded at C$55.84, with a volume of 43329 shares traded. The stock had previously closed at C$54.87.

Open Text Trading Up 0.8%

The firm has a market capitalization of C$14.34 billion, a P/E ratio of 33.53, a price-to-earnings-growth ratio of 1.35 and a beta of 0.87. The stock's 50-day simple moving average is C$48.10 and its two-hundred day simple moving average is C$41.65. The company has a debt-to-equity ratio of 157.46, a current ratio of 0.87 and a quick ratio of 1.34.

Open Text (TSE:OTEX - Get Free Report) NASDAQ: OTEX last released its quarterly earnings data on Thursday, August 7th. The company reported C$0.97 earnings per share for the quarter, topping 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 earned $0.98 earnings per share. Equities research analysts expect that Open Text Co. will post 4.9036649 EPS for the current year.

Open Text Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were paid a $0.275 dividend. This is a positive change from Open Text's previous quarterly dividend of $0.17. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.0%. Open Text's dividend payout ratio is 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.

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