MILWAUKEE, July 1, 2024 /PRNewswire/ -- MGIC Investment Corporation (NYSE: MTG) has announced plans to release its second quarter 2024 financial results after the market closes on Wednesday, July 31, 2024. A conference call/webcast has been scheduled for 10:00 a.m. Eastern Time on Thursday, August 1, 2024, to discuss the Company's results for the quarter ended June 30, 2024. Individuals interested in joining by telephone should register for the call "here" to receive the dial-in number and unique PIN to acc ...

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Magic Software (MGIC) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question. Within the past quarter, the Zacks Consensus Estimate for MGIC's full ...

Core Insights - The article emphasizes the importance of the Zacks Rank and Style Scores system in identifying strong stocks, particularly focusing on value investing strategies [1][2][3] Company Analysis - Magic Software Enterprises (MGIC) has a Zacks Rank of 2 (Buy) and an A grade for Value, indicating it is a high-quality value stock [4] - MGIC's current P/E ratio is 10.82, significantly lower than the industry average of 30.82, suggesting it may be undervalued [4] - Over the past year, MGIC's Forward P/E has fluctuated between 7.36 and 13.62, with a median of 10.82, indicating stable valuation metrics [4] - The company has a P/CF ratio of 9.16, which is also lower than the industry average of 21.75, further supporting the notion of undervaluation [5] - MGIC's P/CF has ranged from 6.61 to 11.27 over the past year, with a median of 9.18, reflecting a solid cash flow outlook [5] - Overall, MGIC is considered an impressive value stock due to its strong earnings outlook and favorable valuation metrics [6]

A downtrend has been apparent in Magic Software (MGIC) lately with too much selling pressure. The stock has declined 9.8% over the past four weeks. However, given the fact that it is now in oversold territory and Wall Street analysts are majorly in agreement about the company's ability to report better earnings than they predicted earlier, the stock could be due for a turnaround. How to Determine if a Stock is Oversold We use Relative Strength Index (RSI), one of the most commonly used technical indicators, ...

Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers. Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by th ...

Magic Software (MGIC) came out with quarterly earnings of $0.23 per share, beating the Zacks Consensus Estimate of $0.21 per share. This compares to earnings of $0.26 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 9.52%. A quarter ago, it was expected that this business process integration software company would post earnings of $0.20 per share when it actually produced earnings of $0.24, delivering a surprise of 20%. Over t ...

Core Viewpoint - Magic Software Enterprises Ltd. reported a decline in financial performance for Q1 2024, with revenues decreasing by 8.2% year-over-year, attributed to reduced demand from key U.S. customers and increased interest expenses [1][3]. Financial Performance Summary - Revenues for Q1 2024 were $130.7 million, down from $142.4 million in Q1 2023, marking an 8.2% decrease [2][3]. - Gross profit decreased by 5.6% to $36.7 million, with a gross margin of 28.1%, an increase of 80 basis points from the previous year [2][3]. - Operating income fell by 6.0% to $14.4 million, with an operating margin of 11.0%, up 20 basis points year-over-year [2][3]. - Net income attributable to shareholders decreased by 13.0% to $8.8 million, or $0.18 per diluted share, compared to $10.1 million, or $0.21 per diluted share, in Q1 2023 [2][3]. Cash Flow and Financial Position - Cash flow from operating activities increased to $27.7 million from $18.8 million in the same period last year [4]. - As of March 31, 2024, the company had cash and cash equivalents totaling $125.9 million and total financial debt of $78.4 million [4]. Dividend Declaration - The board declared a semiannual cash dividend of 20.4 cents per share, totaling approximately $10.0 million, payable on July 11, 2024 [5]. Management Commentary - The CEO noted that despite challenges in the second half of 2023, the majority of customers continue to value the company's services and are engaging in digital transformation initiatives [5]. Annual Revenue Guidance - The company reiterated its annual revenue guidance for 2024, projecting revenues between $540 million and $550 million [4].

OR YEHUDA, Israel, May 16, 2024 (GLOBE NEWSWIRE) -- Magic Software Enterprises Ltd. (NASDAQ and TASE: MGIC) ("the Company"), a global provider of IT consulting services and end-to-end integration and application development platforms solutions, announced today its financial results for the first quarter ended March 31, 2024. Summary Results for the First Quarter 2024 (USD in millions, except per share data) | | GAAP | | | | | Non-GAAP | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | ...

OR YEHUDA, Israel, May 16, 2024 (GLOBE NEWSWIRE) -- Magic Software Enterprises Ltd. (NASDAQ and TASE: MGIC) ("the Company"), a global provider of IT consulting services and end-to-end integration and application development platforms solutions, announced today its financial results for the first quarter ended March 31, 2024. Summary Results for the First Quarter 2024 (USD in millions, except per share data) | | GAAP | | | | | Non-GAAP | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 ...