Shares of Open Text Co. (NASDAQ:OTEX – Get Free Report) (TSE:OTC) have received a consensus rating of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $46.67.
A number of equities analysts have recently commented on the stock. Citigroup raised their price objective on shares of Open Text from $41.00 to $44.00 in a research report on Wednesday, June 21st. CIBC increased their price objective on Open Text from $41.00 to $42.00 and gave the stock a “neutral” rating in a research report on Friday, August 4th. BMO Capital Markets boosted their target price on Open Text from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, August 7th. StockNews.com began coverage on shares of Open Text in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Finally, Barclays increased their target price on Open Text from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Friday, August 4th.
Institutional Inflows and Outflows
Open Text Stock Performance
Shares of OTEX stock opened at $38.57 on Thursday. Open Text has a 12 month low of $24.91 and a 12 month high of $43.25. The stock has a market capitalization of $10.46 billion, a P/E ratio of 68.88 and a beta of 1.04. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 2.13. The firm’s 50 day moving average is $39.74 and its 200 day moving average is $39.34.
Open Text (NASDAQ:OTEX – Get Free Report) (TSE:OTC) last posted its quarterly earnings results on Thursday, August 3rd. The software maker reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.05). Open Text had a return on equity of 19.55% and a net margin of 3.35%. The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.51 billion. On average, sell-side analysts anticipate that Open Text will post 4.26 earnings per share for the current year.
Open Text Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 1st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $1.00 dividend on an annualized basis and a yield of 2.59%. Open Text’s dividend payout ratio is currently 178.57%.
Open Text Company Profile
Open Text Corporation provides information management software and solutions. The company offers content services, which includes content collaboration and intelligent capture to records management, collaboration, e-signatures, and archiving; and operates experience cloud platform that provides customer experience and web content management, digital asset management, customer analytics, AI and insights, e-discovery, digital fax, omnichannel communications, secure messaging, and voice of customer, as well as customer journey, testing, and segmentation.
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