Research Analysts Offer Predictions for Open Text Co.’s Q3 2024 Earnings (NASDAQ:OTEX)

Open Text Co. (NASDAQ:OTEX) (TSE:OTC) – Research analysts at National Bank Financial issued their Q3 2024 earnings per share estimates for shares of Open Text in a report issued on Wednesday, April 17th. National Bank Financial analyst R. Tse forecasts that the software maker will post earnings per share of $0.82 for the quarter. The consensus estimate for Open Text’s current full-year earnings is $4.14 per share.

Other equities research analysts have also issued reports about the company. StockNews.com raised Open Text from a “hold” rating to a “buy” rating in a research report on Tuesday, February 6th. Citigroup decreased their price objective on Open Text from $44.00 to $42.00 and set a “neutral” rating for the company in a report on Friday, March 22nd. TD Securities lifted their price objective on Open Text from $53.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. BMO Capital Markets lifted their price objective on Open Text from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Finally, CIBC lifted their price objective on Open Text from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, January 11th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.25.

Open Text Trading Up 1.8 %

Shares of Open Text stock opened at $36.09 on Monday. Open Text has a 1 year low of $32.04 and a 1 year high of $45.47. The firm has a market cap of $9.84 billion, a PE ratio of 76.79 and a beta of 1.09. The stock has a fifty day moving average price of $38.04 and a 200-day moving average price of $38.77. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.38 and a quick ratio of 1.38.

Open Text (NASDAQ:OTEX) (TSE:OTC) last announced its earnings results on Thursday, February 1st. The software maker reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.01. Open Text had a return on equity of 22.99% and a net margin of 2.24%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.48 billion.

Open Text Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Friday, March 1st were paid a $0.25 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.00 annualized dividend and a yield of 2.77%. Open Text’s dividend payout ratio is currently 212.77%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Galibier Capital Management Ltd. purchased a new position in shares of Open Text during the 1st quarter valued at about $15,522,000. Juncture Wealth Strategies LLC purchased a new position in shares of Open Text during the 1st quarter valued at about $804,000. PNC Financial Services Group Inc. raised its holdings in shares of Open Text by 27.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,692 shares of the software maker’s stock valued at $197,000 after buying an additional 1,023 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Open Text by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 10,209,098 shares of the software maker’s stock valued at $428,986,000 after buying an additional 123,090 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Open Text by 20.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 685,944 shares of the software maker’s stock valued at $28,823,000 after buying an additional 118,663 shares in the last quarter. Institutional investors own 70.37% of the company’s stock.

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.