Open Text Corp reports results for the quarter ended in June - Earnings Summary

Open Text

01/08/2024 22:37

* Open Text Corp  OTEX.TO  reported quarterly adjusted
earnings of
98 cents​​ per share for the quarter ended in June, higher than
the same quarter last year, when the company reported EPS of 91
cents.  The mean expectation of nine analysts for the quarter
was for earnings of $1.02 per share. Wall Street expected
results to range from 90 cents to $1.10 per share.
    * Revenue fell 8.6% to $1.36 billion from a year ago;
analysts
expected $1.41 billion. 
    * Open Text Corp's reported EPS for the quarter was 91
cents​.
    * The company reported quarterly net income of $248.23
million.
    * Open Text Corp shares had risen by 5.9% this quarter and
lost 21.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 23.6%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the software peer
group
is also "buy"

Wall Street's median 12-month price target for Open Text Corp is
C$67.09 
This summary was machine generated from LSEG data August 1 at
09:37 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jan. 1 0001       1.02           0.98           Missed
 Mar. 31 2024      0.94           0.94           Met
 Dec. 31 2023      1.20           1.24           Beat
 Sep. 30 2023      0.91           1.01           Beat