Open Text (OTEX) to Release Earnings on Thursday

Open Text (NASDAQ:OTEX) (TSE:OTC) is scheduled to be issuing its quarterly earnings data after the market closes on Thursday, May 2nd. Analysts expect the company to announce earnings of $1.00 per share for the quarter. Parties interested in participating in the company’s 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.01. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Open Text had a return on equity of 22.99% and a net margin of 2.24%. 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 Stock Performance

Shares of NASDAQ:OTEX opened at $36.02 on Thursday. The stock has a market capitalization of $9.82 billion, a price-to-earnings ratio of 76.64 and a beta of 1.09. The business’s fifty day moving average price is $37.95 and its two-hundred day moving average price is $38.75. Open Text has a fifty-two week low of $32.04 and a fifty-two week high of $45.47. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.38 and a quick ratio of 1.38.

Open Text Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on OTEX. TD Securities boosted their price target 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. Jefferies Financial Group started coverage on Open Text in a report on Tuesday, February 27th. They set a “buy” rating and a $45.00 price target for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $53.00 price objective on shares of Open Text in a research note on Friday, February 2nd. Citigroup lowered their price target on shares of Open Text from $44.00 to $42.00 and set a “neutral” rating for the company in a report on Friday, March 22nd. Finally, CIBC lifted their target price on Open Text from $42.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Open Text has an average rating of “Moderate Buy” and an average 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.