An analyst sees good growth prospects for Micro Focus International plc (MFGP)

Micro Focus International plc (NYSE: MFGP) stock jumped 1.45% on Friday to $3.49 against a previous-day closing price of $3.44. With 1.02 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.42 million shares. During the session, the Software – Infrastructure company that operates in wider Technology sector, reached to the highest price of $3.5400 whereas the lowest price it dropped to was $3.4700. The 52-week range on MFGP shows that it touched its highest point at $6.58 and its lowest point at $3.03 during that stretch. It currently has a 1-year price target of $3.70. With its current market cap of 1.15 billion, MFGP has annualized dividend of $0.37 while the current yield stands at 10.63%. Beta for the stock currently stands at 2.04.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MFGP was up-trending over the past week, with a rise of 4.80%, but this was up by 10.09% over a month. Three-month performance dropped to -29.92% while six-month performance fell -44.34%. The stock lost -38.12% in the past year, while it has lost -37.34% so far this year.

Float and Shares Shorts:

At present, 327.00 million MFGP shares are outstanding with a float of 323.09 million shares on hand for trading. On Jul 14, 2022, short shares totaled 1.55 million, which was 0.46% higher than short shares on Jun 14, 2022. In addition to Mr. Stephen Murdoch as the firm’s CEO & Director, Mr. Matthew Ashley serves as its CFO & Director.

Institutional Ownership:

Through their ownership of 13.36% of MFGP’s outstanding shares, institutional investors have minority control over the company.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MFGP since 5 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With MFGP analysts setting a high price target of $7.22 and a low target of $3.07, the average target price over the next 12 months is $4.92. Based on these targets, MFGP could surge 106.88% to reach the target high and fall by -12.03% to reach the target low. Reaching the average price target will result in a growth of 40.97% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. MFGP will report FY 2022 earnings on 12/28/2022. Analysts have provided yearly estimates in a range of $1.32 being high and $1.08 being low. For MFGP, this leads to a yearly average estimate of $1.17. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Based on analyst estimates, the high estimate for the next quarter is $0.36 and the low estimate is $0.36. The average estimate for the next quarter is thus $0.36.

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