Open Text (OTEX) Set to Announce Earnings on Thursday

Open Text (NASDAQ:OTEX) (TSE:OTC) is scheduled to be posting its quarterly earnings results before the market opens on Thursday, October 31st. Analysts expect Open Text to post earnings of $0.71 per share for the quarter. Persons that wish to register 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 EPS for the quarter, topping the consensus estimate of $0.93 by $0.05. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.41 billion. Open Text had a return on equity of 25.00% and a net margin of 8.06%. Open Text’s revenue was down 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.79 EPS. 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

NASDAQ OTEX opened at $32.84 on Thursday. The business’s fifty day moving average is $32.68 and its 200 day moving average is $31.73. Open Text has a fifty-two week low of $27.50 and a fifty-two week high of $45.47. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $8.86 billion, a PE ratio of 52.97 and a beta of 1.12.

Open Text Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were given a dividend of $0.192 per share. The ex-dividend date was Friday, August 30th. This represents a $0.77 dividend on an annualized basis and a dividend yield of 2.34%. Open Text’s payout ratio is currently 169.35%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on OTEX. National Bank Financial lowered shares of Open Text from an “outperform” rating to a “sector perform” rating in a report on Friday, August 2nd. National Bankshares downgraded shares of Open Text from an “outperform” rating to a “sector perform” rating and set a $38.00 price objective on the stock. in a research report on Friday, August 2nd. BMO Capital Markets lowered their target price on shares of Open Text from $38.00 to $33.00 and set a “market perform” rating on the stock in a research note on Friday, August 2nd. CIBC cut their price target on Open Text from $36.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Finally, Citigroup boosted their price objective on Open Text from $32.00 to $34.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average 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.