News stories about Open Text Corp (NASDAQ:OTEX) (TSE:OTC) have been trending somewhat positive this week, according to Alpha One. The research firm, a subsidiary of Accern, identifies positive and negative news coverage by monitoring more than 20 million blog and news sources in real time. Alpha One ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Open Text Corp earned a news sentiment score of 0.10 on Alpha One’s scale. Alpha One also assigned news stories about the software maker an impact score of 0 out of 100, meaning that recent news coverage is extremely unlikely to have an effect on the company’s share price in the next few days.
Here are some of the media headlines that may have effected AlphaOne Sentiment’s analysis:
- The Scotiabank Trims Open Text Corp (OTEX) Target Price to $41.00 – BangaloreWeekly (bangaloreweekly.com)
- Barwa Real Estate Builds Single Enterprise Information Management Environment with OpenText (finance.yahoo.com)
- 2 Tech Stocks Flashing ‘Buy’ (schaeffersresearch.com)
- OpenText Named Solution Extension Partner of the Year and SAP Database and Data Management Partner of the Year in 2017 SAP® Pinnacle Awards (finance.yahoo.com)
- Open Text Corp (OTEX) Stock Rating Lowered by Zacks Investment Research (americanbankingnews.com)
A number of research firms recently commented on OTEX. Beacon Securities downgraded Open Text Corp from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. Citigroup Inc began coverage on Open Text Corp in a report on Thursday, February 16th. They issued a “neutral” rating and a $36.00 price objective for the company. Barclays PLC began coverage on Open Text Corp in a report on Tuesday, January 24th. They issued an “overweight” rating and a $76.00 price objective for the company. BMO Capital Markets set a $38.00 price objective on Open Text Corp and gave the company a “buy” rating in a report on Tuesday, May 9th. Finally, Scotiabank dropped their price objective on Open Text Corp from $51.00 to $41.00 and set an “outperform” rating for the company in a report on Wednesday, May 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $58.80.
Open Text Corp (NASDAQ:OTEX) traded up 1.51% on Friday, reaching $32.25. The company’s stock had a trading volume of 393,979 shares. The stock has a market cap of $8.47 billion, a price-to-earnings ratio of 7.57 and a beta of 0.83. The firm’s 50-day moving average price is $33.68 and its 200-day moving average price is $32.58. Open Text Corp has a 52-week low of $27.64 and a 52-week high of $35.21.
Open Text Corp (NASDAQ:OTEX) last posted its quarterly earnings data on Monday, May 8th. The software maker reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by $0.16. Open Text Corp had a return on equity of 16.61% and a net margin of 56.84%. The business had revenue of $593.13 million during the quarter, compared to the consensus estimate of $601.84 million. During the same period last year, the business posted $0.40 earnings per share. The business’s revenue was up 34.6% on a year-over-year basis. On average, equities analysts expect that Open Text Corp will post $2.00 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 16th. Stockholders of record on Friday, May 26th will be given a $0.132 dividend. The ex-dividend date of this dividend is Wednesday, May 24th. This is a positive change from Open Text Corp’s previous quarterly dividend of $0.12. This represents a $0.53 annualized dividend and a dividend yield of 1.66%. Open Text Corp’s dividend payout ratio (DPR) is 10.11%.
Open Text Corp Company Profile
Open Text Corporation provides a platform and suite of software products and services that assist organizations in finding, utilizing, and sharing business information from any device. The Company designs, develops, markets and sells Enterprise Information Management (EIM) software and solutions. Its EIM offerings include Enterprise Content Management (ECM), Business Process Management (BPM), Customer Experience Management (CEM), Business Network, Discovery and Analytics.
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