Open Text Corporation (USA) (OTEX) Releases Earnings Results, Misses Expectations By $-0.04 EPS

Open Text Corporation (USA) (OTEX) reported quarterly earnings results on Wednesday, Apr-27-2016. The company reported $0.80 earnings per share for the quarter, missing the analyst consensus estimate by $-0.04. Analysts had a consensus of $0.84. The company posted revenue of $440.50 million in the period, compared to analysts expectations of $450.99 million. The company’s revenue was down -1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS.

Many Wall Street Analysts have commented on Open Text Corporation (USA). Open Text Corporation (USA) was Initiated by TD Securities to “Buy” on Apr 4, 2016. Company shares were Reiterated by RBC Capital Mkts on Feb 10, 2016 to “Outperform”, Firm has raised the Price Target to $ 57 from a previous price target of $55 .Company shares were Reiterated by Barclays on Feb 10, 2016 to “Overweight”, Firm has raised the Price Target to $ 56 from a previous price target of $55 .

Open Text Corporation (USA) opened for trading at $55.23 and hit $55.65 on the upside on Friday, eventually ending the session at $55.57, with a gain of 0.38% or 0.21 points. The heightened volatility saw the trading volume jump to 1,61,035 shares. Company has a market cap of $6,731 M.

Open Text Corporation is a Canada-based company operating in enterprise information market (EIM). The Company provides software products and services to organizations in finding utilizing and sharing business information. The Company’s products and services include enterprise content management (ECM) business process management (BPM) customer experience management (CEM) information exchange (iX) discovery and analytics and reporting. Its ECM solutions include content management archiving and core among others. Its BPM solutions include process suite platform capture and recognition systems and process suite solutions. Its CEM solutions include Web content management digital asset management and portal. Its iX solutions include business-to-business (B2B) integration fax solutions and secure messaging. Its discovery solutions include search and InfoFusion. Its analytics and reporting solutions include embedded analytics and reporting and advanced analytics.

Open Text Corporation (USA)

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