Magic Software Enterprises Ltd. (MGIC) To Go Ex-Dividend on December 15th

Magic Software Enterprises Ltd. (NASDAQ:MGIC) announced a quarterly dividend on Tuesday, November 18th. Stockholders of record on Monday, December 15th will be given a dividend of 0.151 per share by the software maker on Tuesday, December 30th. This represents a c) annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Monday, December 15th.

Magic Software Enterprises has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Magic Software Enterprises has a dividend payout ratio of 54.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Magic Software Enterprises to earn $0.99 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 60.6%.

Magic Software Enterprises Stock Down 0.2%

NASDAQ MGIC traded down $0.05 during trading hours on Friday, hitting $26.74. The company’s stock had a trading volume of 26,930 shares, compared to its average volume of 40,717. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.11. The company’s 50-day simple moving average is $22.36 and its two-hundred day simple moving average is $20.41. The company has a market capitalization of $1.31 billion, a PE ratio of 33.01 and a beta of 0.71. Magic Software Enterprises has a 52 week low of $11.36 and a 52 week high of $27.00.

Magic Software Enterprises (NASDAQ:MGIC) last issued its quarterly earnings data on Tuesday, November 18th. The software maker reported $0.25 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.04). The company had revenue of $161.70 million during the quarter, compared to analysts’ expectations of $154.80 million. Magic Software Enterprises had a return on equity of 16.28% and a net margin of 6.61%. Research analysts anticipate that Magic Software Enterprises will post 0.95 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MGIC has been the subject of a number of recent analyst reports. Zacks Research downgraded Magic Software Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. Wall Street Zen lowered shares of Magic Software Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, August 16th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Magic Software Enterprises in a research note on Monday. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Magic Software Enterprises has a consensus rating of “Hold” and an average price target of $18.00.

About Magic Software Enterprises

Magic Software Enterprises Ltd. provides proprietary application development, vertical software solutions, business process integration, information technologies (IT) outsourcing software services, and cloud-based services in Israel and internationally. Its Software Services segment develops, markets, sells, and supports application platform, software applications, and business and process integration solutions and related services.