Open Text (OTEX) Set to Announce Earnings on Thursday

Open Text (NASDAQ:OTEX) (TSE:OTC) is set to announce its earnings results after the market closes on Thursday, May 2nd. Analysts expect the company to announce earnings of $1.00 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Open Text (NASDAQ:OTEX) (TSE:OTC) last issued its earnings results on Thursday, February 1st. The software maker reported $1.11 EPS for the quarter, topping the consensus estimate of $1.10 by $0.01. Open Text had a return on equity of 22.99% and a net margin of 2.24%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.48 billion. On average, analysts expect Open Text to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Open Text Trading Down 0.2 %

Shares of OTEX opened at $36.02 on Thursday. The business’s 50-day moving average price is $37.95 and its 200-day moving average price is $38.75. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 2.10. Open Text has a twelve month low of $32.04 and a twelve month high of $45.47. The stock has a market cap of $9.82 billion, a PE ratio of 76.64 and a beta of 1.09.

Open Text Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Friday, March 1st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date was Thursday, February 29th. Open Text’s dividend payout ratio (DPR) is presently 212.77%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on OTEX shares. Royal Bank of Canada restated an “outperform” rating and set a $53.00 price target on shares of Open Text in a research report on Friday, February 2nd. Citigroup decreased their price objective on shares of Open Text from $44.00 to $42.00 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. TD Securities lifted their target price on shares of Open Text from $53.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. StockNews.com raised Open Text from a “hold” rating to a “buy” rating in a research note on Tuesday, February 6th. Finally, BMO Capital Markets upped their price objective on shares of Open Text from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $46.25.

About Open Text

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.