Open Text Co. (NASDAQ:OTEX – Get Free Report) (TSE:OTC) has been given a consensus rating of “Hold” by the twelve ratings firms that are presently covering the company, Marketbeat reports. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $38.60.
A number of equities research analysts recently issued reports on OTEX shares. National Bank Financial downgraded Open Text from an “outperform” rating to a “sector perform” rating in a research report on Friday, August 2nd. Barclays decreased their price objective on shares of Open Text from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. BMO Capital Markets dropped their target price on shares of Open Text from $38.00 to $33.00 and set a “market perform” rating for the company in a research report on Friday, August 2nd. Jefferies Financial Group decreased their price target on shares of Open Text from $42.00 to $35.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Finally, Citigroup dropped their price objective on shares of Open Text from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th.
Hedge Funds Weigh In On Open Text
Open Text Price Performance
Shares of NASDAQ OTEX opened at $32.76 on Monday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.81 and a current ratio of 0.81. Open Text has a fifty-two week low of $27.50 and a fifty-two week high of $45.47. The stock has a market cap of $8.84 billion, a PE ratio of 52.84 and a beta of 1.11. The stock has a fifty day moving average of $31.38 and a 200-day moving average of $32.53.
Open Text (NASDAQ:OTEX – Get Free Report) (TSE:OTC) last issued its quarterly earnings data on Thursday, August 1st. The software maker reported $0.98 EPS 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 analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the company earned $0.79 earnings per share. Open Text’s revenue for the quarter was down 8.6% on a year-over-year basis. Equities research analysts anticipate that Open Text will post 3.23 earnings per share for the current year.
Open Text Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were paid a $0.192 dividend. This represents a $0.77 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend was Friday, August 30th. Open Text’s dividend payout ratio (DPR) is presently 169.35%.
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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