Magic Software Enterprises Ltd. (NASDAQ:MGIC) is set to announce third quarter earning results on Monday 16th November 2020, before market open.
Analysts surveyed by Thomson Reuters are predicting, MGIC to report 3Q20 income of $ 0.17 per share.
For the full year, analysts anticipate top line of $ 353.90 million, while looking forward to income of $ 0.70 per share bottom line.
The Company Outlook
Full Year 2020 topline are forecasted in a range of$ 350.00 million ~ $ 360.00 million
Click Here For More Historical Outlooks Of Magic Software Enterprises Ltd.
Previous Quarter Performance
Magic Software Enterprises Ltd. reported income for the second quarter of $ 0.17 per share, from the revenue of $ 86.52 million. The quarterly revenues increased 0.79 percent compared with the same quarter last year. Wall street analysts are predicting, MGIC to report 2Q20 income of $ 0.16 per share from revenue of $ 88.70 million. The bottom line results beat street analysts by $ 0.01 or 6.25 percent, at the same time, top line results fell short of analysts by $ 2.18 million or 2.46 percent.
Stock Performance
On Friday, shares of Magic Software Enterprises Ltd. has traded high as $ 12.90 and has cracked $ 12.61 on the downward trend, reaching $ 12.72 with volume of 82.20 thousand shares.
According to the previous trading day, closing price of $ 12.72, representing a 101.27 % increase from the 52 week low of $ 6.31 and a 24.72 % decrease over the 52 week high of $ 16.87.
The company has a market capital of $ 640.22 million and is part of the Technology sector and Software – Application industry.
Recent Stock Dividend Announcement
The board of directors has authorized semi-annual dividend of $ 0.175 per share on August 13, 2020. The dividend were payable on October 9, 2020 to holders of record as of the close of business on August 27, 2020 and ex-dividend date on August 26, 2020.
Conference Call
Magic Software Enterprises Ltd. will be hosting a conference call at 10:00 AM eastern time on 16th November 2020, to discuss its 3Q20 financial results with the investment community. The participants may dial, +1-888-668-9141 U.S. or +972-3-918-0609 Outside U.S. in order to access the live audio call. A live webcast with presentations will be available on the Internet by visiting the Company website www.magicsoftware.com
Magic Software Enterprises Ltd. provides proprietary application development, business process integration, vertical software solutions, and IT outsourcing software services in Israel and internationally. The companys Software Services segment develops, markets, sells, and supports application platform, software applications, and business and process integration solutions and related services.
