Open Text (TSE:OTEX) Shares Pass Above 50 Day Moving Average - Here's Why

Key Points

• Open Text's stock price has recently crossed above its 50-day moving average, indicating potential upward momentum as it traded at C$43.80.
• The company reported earnings per share of C$0.97 for the last quarter, exceeding expectations and reflecting a solid financial performance.
• Open Text declared a quarterly dividend increase to $0.275 per share, up from $0.17, showing its commitment to returning value to shareholders.

Open Text Co. (TSE:OTEX - Get Free Report) NASDAQ: OTEX passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$39.98 and traded as high as C$44.03. Open Text shares last traded at C$43.80, with a volume of 1,208,883 shares traded.

Open Text Price Performance

The firm has a fifty day moving average of C$40.17 and a 200 day moving average of C$38.61. The company has a market capitalization of C$8.15 billion, a P/E ratio of 12.50, a P/E/G ratio of 1.35 and a beta of 1.12. The company has a current ratio of 0.87, a quick ratio of 1.34 and a debt-to-equity ratio of 157.46.

Open Text (TSE:OTEX - Get Free Report) NASDAQ: OTEX last released its quarterly earnings results on Thursday, August 7th. The company reported C$0.97 earnings per share (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 quarter in the prior year, the company posted $0.98 earnings per share. On average, equities research analysts anticipate that Open Text Co. will post 4.9036649 EPS for the current year.

Open Text Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be paid a dividend of $0.275 per share. This is an increase 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 2.5%. Open Text's payout ratio is 40.16%.

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.