Magic Software Enterprises - MGIC Stock Forecast, Price & News

Magic Software Enterprises' stock was trading at $20.93 at the beginning of 2022. Since then, MGIC shares have decreased by 20.4% and is now trading at $16.66.
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Magic Software Enterprises saw a increase in short interest during the month of November. As of November 15th, there was short interest totaling 11,200 shares, an increase of 69.7% from the October 31st total of 6,600 shares. Based on an average daily volume of 21,900 shares, the short-interest ratio is currently 0.5 days. Currently, 0.1% of the shares of the stock are sold short.
View Magic Software Enterprises' Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Wednesday, March 1st 2023.
View our MGIC earnings forecast.

Magic Software Enterprises Ltd. (NASDAQ:MGIC) posted its quarterly earnings data on Monday, November, 15th. The software maker reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.03. The software maker earned $120.87 million during the quarter, compared to analyst estimates of $113 million. Magic Software Enterprises had a net margin of 5.99% and a trailing twelve-month return on equity of 18.81%. During the same period last year, the business earned $0.19 EPS.

Magic Software Enterprises announced a semi-annual dividend on Friday, August 12th. Investors of record on Tuesday, August 30th will be paid a dividend of $0.29 per share on Tuesday, September 13th. This represents a yield of 3.1%. The ex-dividend date is Monday, August 29th. This is a positive change from the stock's previous semi-annual dividend of $0.22.
Read our dividend analysis for MGIC.

Magic Software Enterprises (NASDAQ:MGIC) pays an annual dividend of $0.58 per share and currently has a dividend yield of 3.51%. The company does not yet have a strong track record of dividend growth. The dividend payout ratio is 90.63%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, MGIC will have a dividend payout ratio of 49.15% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for MGIC.

Magic Software Enterprises issued an update on its FY 2022 earnings guidance on Monday, November, 14th. The company provided EPS guidance of for the period. The company issued revenue guidance of $555.00 million-$565.00 million, compared to the consensus revenue estimate of $550.41 million.

13 employees have rated Magic Software Enterprises Chief Executive Officer Guy Bernstein on Glassdoor.com. Guy Bernstein has an approval rating of 61% among the company's employees. This puts Guy Bernstein in the bottom 25% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other Magic Software Enterprises investors own include Activision Blizzard (ATVI), Walt Disney (DIS), Gilead Sciences (GILD), Shopify (SHOP), Block (SQ), Tesla (TSLA), Trade Desk (TTD), AbbVie (ABBV), Applied Materials (AMAT) and Alibaba Group (BABA).

Magic Software Enterprises trades on the NASDAQ under the ticker symbol "MGIC."

Magic Software Enterprises' stock is owned by a number of retail and institutional investors. Top institutional shareholders include Harel Insurance Investments & Financial Services Ltd. (5.13%), Meitav Dash Investments Ltd. (1.14%), Renaissance Technologies LLC (0.85%), Phoenix Holdings Ltd. (0.82%), Naples Global Advisors LLC (0.50%) and Dimensional Fund Advisors LP (0.28%).

Shares of MGIC stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of MGIC stock can currently be purchased for approximately $16.66.

Magic Software Enterprises (NASDAQ:MGIC) has a market capitalization of $817.56 million and generates $480.33 million in revenue each year. The software maker earns $29.33 million in net income (profit) each year or $0.64 on an earnings per share basis.

The company employs 3,677 workers across the globe.

Magic Software Enterprises' mailing address is 5 HAPLADA STREET, OR YEHUDA L3, 6021805. The official website for the company is www.magicsoftware.com. The software maker can be reached via phone at (723) 538-9292, via email at ir@magicsoftware.com, or via fax at 972-3538-9333.