Open Text (OTEX) Scheduled to Post Earnings on Thursday

Open Text (NASDAQ:OTEX) (TSE:OTC) will be releasing its earnings data before the market opens on Thursday, October 31st. Analysts expect Open Text to post earnings of $0.71 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Open Text (NASDAQ:OTEX) (TSE:OTC) last posted its quarterly earnings data on Thursday, August 1st. The software maker reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.05. Open Text had a net margin of 8.06% and a return on equity of 25.00%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter last year, the firm posted $0.79 EPS. The business’s revenue for the quarter was down 8.6% on a year-over-year basis. On average, analysts expect Open Text to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Open Text Price Performance

OTEX stock opened at $33.75 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.51. Open Text has a one year low of $27.50 and a one year high of $45.47. The firm has a market capitalization of $8.96 billion, a PE ratio of 19.74 and a beta of 1.12. The firm has a 50-day moving average of $32.74 and a two-hundred day moving average of $31.64.

Open Text Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were paid a dividend of $0.192 per share. This represents a $0.77 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date was Friday, August 30th. Open Text’s dividend payout ratio is presently 61.40%.

Analyst Upgrades and Downgrades

OTEX has been the subject of a number of analyst reports. BMO Capital Markets reduced their price objective on shares of Open Text from $38.00 to $33.00 and set a “market perform” rating for the company in a research note on Friday, August 2nd. National Bank Financial lowered shares of Open Text from an “outperform” rating to a “sector perform” rating in a research note on Friday, August 2nd. CIBC reduced their price target on shares of Open Text from $36.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. National Bankshares lowered shares of Open Text from an “outperform” rating to a “sector perform” rating and set a $38.00 price target for the company. in a research report on Friday, August 2nd. Finally, Citigroup increased their price target on shares of Open Text from $32.00 to $34.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $38.89.

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.