Open Text Co. (NASDAQ:OTEX) Declares Quarterly Dividend of $0.26

Open Text Co. (NASDAQ:OTEX) (TSE:OTC) announced a quarterly dividend on Tuesday, October 29th,Zacks Dividends reports. Investors of record on Friday, November 29th will be given a dividend of 0.262 per share by the software maker on Friday, December 20th. This represents a $1.05 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Friday, November 29th. This is a boost from Open Text’s previous quarterly dividend of $0.19.

Open Text has raised its dividend by an average of 10.9% annually over the last three years. Open Text has a payout ratio of 28.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Open Text to earn $3.74 per share next year, which means the company should continue to be able to cover its $1.05 annual dividend with an expected future payout ratio of 28.1%.

Open Text Trading Up 1.9 %

Open Text stock opened at $30.59 on Thursday. The business has a 50 day moving average price of $31.79 and a two-hundred day moving average price of $31.02. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.54. Open Text has a 12 month low of $27.50 and a 12 month high of $45.47. The stock has a market cap of $8.13 billion, a price-to-earnings ratio of 17.68 and a beta of 1.13.

Open Text (NASDAQ:OTEX) (TSE:OTC) last issued its earnings results on Thursday, October 31st. The software maker reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.13. Open Text had a return on equity of 24.34% and a net margin of 8.35%. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the company posted $0.90 earnings per share. Open Text’s revenue was down 11.0% on a year-over-year basis. As a group, equities analysts forecast that Open Text will post 3.37 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on OTEX. Jefferies Financial Group decreased their target price on shares of Open Text from $42.00 to $35.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. National Bankshares downgraded Open Text from an “outperform” rating to a “sector perform” rating and set a $38.00 price objective on the stock. in a report on Friday, August 2nd. Barclays dropped their target price on Open Text from $36.00 to $34.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. Royal Bank of Canada lowered Open Text from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $45.00 to $33.00 in a research note on Friday, November 1st. Finally, National Bank Financial lowered Open Text from an “outperform” rating to a “sector perform” rating in a research note on Friday, August 2nd. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $35.90.

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.