Equities research analysts forecast that Open Text Corp (NASDAQ:OTEX) (TSE:OTC) will post $0.72 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Open Text’s earnings, with the highest EPS estimate coming in at $0.74 and the lowest estimate coming in at $0.71. Open Text also posted earnings per share of $0.72 in the same quarter last year. The company is expected to announce its next quarterly earnings report after the market closes on Thursday, August 1st.

According to Zacks, analysts expect that Open Text will report full-year earnings of $2.76 per share for the current year, with EPS estimates ranging from $2.75 to $2.78. For the next year, analysts anticipate that the firm will report earnings of $2.95 per share, with EPS estimates ranging from $2.92 to $2.98. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Open Text.

Open Text (NASDAQ:OTEX) (TSE:OTC) last posted its quarterly earnings results on Wednesday, May 1st. The software maker reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.19. The business had revenue of $719.10 million for the quarter, compared to analysts’ expectations of $710.47 million. Open Text had a return on equity of 7.31% and a net margin of 9.57%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.54 earnings per share.

A number of equities analysts have issued reports on the company. Benchmark restated a “buy” rating and set a $48.00 target price (up previously from $42.00) on shares of Open Text in a report on Thursday, July 11th. Zacks Investment Research upgraded General Moly from a “sell” rating to a “hold” rating in a report on Thursday, July 11th. Raymond James restated a “buy” rating on shares of West Fraser Timber in a report on Friday, July 19th. Finally, BidaskClub upgraded ZIX from a “buy” rating to a “strong-buy” rating in a report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Open Text has an average rating of “Buy” and an average price target of $46.09.

Several large investors have recently added to or reduced their stakes in the company. Creative Planning lifted its holdings in shares of Open Text by 13.0% during the 2nd quarter. Creative Planning now owns 8,488 shares of the software maker’s stock valued at $350,000 after purchasing an additional 974 shares in the last quarter. Virginia Retirement Systems ET AL lifted its holdings in shares of Open Text by 14.0% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 448,500 shares of the software maker’s stock valued at $18,547,000 after purchasing an additional 55,100 shares in the last quarter. Wetherby Asset Management Inc. lifted its holdings in shares of Open Text by 18.8% during the 2nd quarter. Wetherby Asset Management Inc. now owns 7,172 shares of the software maker’s stock valued at $295,000 after purchasing an additional 1,136 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Open Text by 259.2% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 37,628 shares of the software maker’s stock valued at $1,550,000 after purchasing an additional 27,153 shares in the last quarter. Finally, Flagship Harbor Advisors LLC lifted its holdings in shares of Open Text by 141.2% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 627 shares of the software maker’s stock valued at $25,000 after purchasing an additional 367 shares in the last quarter. Institutional investors and hedge funds own 67.34% of the company’s stock.

OTEX traded up $0.15 during midday trading on Friday, reaching $44.06. 801,859 shares of the company were exchanged, compared to its average volume of 529,948. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.68. Open Text has a one year low of $30.99 and a one year high of $44.49. The firm has a market cap of $11.84 billion, a PE ratio of 48.42 and a beta of 0.48. The company’s 50-day simple moving average is $41.94.

Open Text Company Profile

Open Text Corporation provides a suite of software products and services. The company offers content services; digital process automation, which enables organizations to transform into digital and data-driven businesses through automation; and discovery suite that provides forensics and unstructured data analytics for searching, collecting, and investigating enterprise data to manage legal obligations and risk.

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