Open Text Corp reports results for the quarter ended in September 30 - Earnings Summary

Open Text

01/11/2024 03:43

* Open Text Corp  OTEX.TO  reported quarterly adjusted
earnings of
93 cents​​ per share for the quarter ended September 30, lower
than the same quarter last year, when the company reported EPS
of $1.01.  The mean expectation of nine analysts for the quarter
was for earnings of 80 cents per share. Wall Street expected
results to range from 74 cents to 89 cents per share.
    * Revenue fell 11% to $1.27 billion from a year ago;
analysts
expected $1.28 billion. 
    * Open Text Corp's reported EPS for the quarter was 32
cents​.
    * The company reported quarterly net income of $84.37
million.
    * Open Text Corp shares had risen by 4.4% this quarter and
lost 15.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 0.5%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 3 "strong buy" or "buy," 2
"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 November 1 at
03:43 a.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
 Sep. 30 2024      0.80           0.93           Beat
 Jun. 30 2024      1.02           0.98           Missed
 Mar. 31 2024      0.94           0.94           Met
 Dec. 31 2023      1.20           1.24           Beat