UBS Group has lowered its price target for Enghouse Systems (TSE:ENGH) from C$22.00 to C$20.00, as detailed in a research note released to investors on Monday, November 27, 2023. This adjustment reflects a broader trend among financial analysts revising their expectations for the Canadian software and services provider.
Other significant adjustments have been made by various institutions. CIBC decreased its target price for Enghouse Systems from C$25.50 to C$25.00, assigning a “negative” rating in a report published the same day. Similarly, the Royal Bank of Canada reduced its price objective from C$26.00 to C$24.00, maintaining a “sector perform” rating on September 8, 2023.
As it stands, two analysts have rated Enghouse Systems with a “Hold” rating, while one has issued a “Sell” rating. According to data from MarketBeat.com, the consensus rating for the stock is “Reduce,” with an average price target of C$24.50.
Recent Dividend Announcement and Financial Overview
Enghouse Systems has also recently announced a quarterly dividend, which was paid on November 28, 2023. Shareholders of record on that date received a dividend of C$0.30 per share, resulting in an annualized dividend of C$1.20 and a yield of 6.0%. The ex-dividend date was November 14, 2023. Current data indicates that Enghouse Systems maintains a dividend payout ratio of 79.41%.
Enghouse Systems operates as a Canada-based provider of software and services tailored to various end markets. The company’s activities are organized into two principal segments: the Interactive Management Group and the Asset Management Group. With a global presence, Enghouse Systems conducts business in numerous countries, including Canada, the United States, the United Kingdom, France, Germany, Sweden, Israel, Croatia, Denmark, Norway, India, Japan, Hong Kong, Singapore, and Australia.
The recent adjustments in price targets and ratings highlight the shifting landscape for Enghouse Systems, reflecting both market challenges and analysts’ reassessments of the company’s financial outlook. As investor interest continues to evolve, stakeholders will be closely monitoring further developments in the company’s performance and strategic direction.
