Progress Software Corp. (PRGS) to Release Quarterly Earnings on Wednesday
Progress Software Corp. (NASDAQ:PRGS) is set to issue its Q313 quarterly earnings data on Wednesday, September 25th. Analysts expect the company to announce earnings of $0.24 per share and revenue of $76.70 million for the quarter.
Progress Software Corp. (NASDAQ:PRGS) last issued its quarterly earnings data on Wednesday, June 26th. The company reported $0.27 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.22 by $0.05. The company had revenue of $81.70 million for the quarter, compared to the consensus estimate of $79.04 million. During the same quarter last year, the company posted $0.21 earnings per share. Progress Software Corp.’s revenue was up 10.3% compared to the same quarter last year. On average, analysts expect Progress Software Corp. to post $1.16 EPS for the current fiscal year and $1.58 EPS for the next fiscal year.
Progress Software Corp. (NASDAQ:PRGS) opened at 25.41 on Tuesday. Progress Software Corp. has a one year low of $17.45 and a one year high of $26.03. The stock has a 50-day moving average of $24.96 and a 200-day moving average of $23.69. The company has a market cap of $1.375 billion and a price-to-earnings ratio of 20.42.
A number of research firms have recently commented on PRGS. Analysts at Thomson Reuters/Verus downgraded shares of Progress Software Corp. (NASDAQ:PRGS) from a “hold” rating to a “sell” rating in a research note to investors on Monday, July 1st. Analysts at Jefferies Group reiterated a “hold” rating on shares of Progress Software Corp. (NASDAQ:PRGS) in a research note to investors on Thursday, June 27th. They now have a $23.00 price target on the stock, up previously from $21.00.
Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $26.25.
Progress Software Corporation is a global software company. The Company’s portfolio of products provides solutions for enterprise integration, data interoperability and application development, including software-as-a-service (NASDAQ:PRGS) enablement and delivery in the Cloud.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.