Zacks: Analysts Expect PRGX Global, Inc. (PRGX) Will Announce Quarterly Sales of $37.06 Million
Analysts expect that PRGX Global, Inc. (NASDAQ:PRGX) will announce $37.06 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for PRGX Global’s earnings, with estimates ranging from $36.23 million to $37.88 million. PRGX Global posted sales of $35.29 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 5%. The business is expected to announce its next quarterly earnings results on Tuesday, July 25th.
On average, analysts expect that PRGX Global will report full-year sales of $37.06 million for the current financial year, with estimates ranging from $156.29 million to $157.21 million. For the next financial year, analysts anticipate that the company will post sales of $167.50 million per share, with estimates ranging from $166.00 million to $168.99 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover PRGX Global.
PRGX Global (NASDAQ:PRGX) last issued its earnings results on Wednesday, April 26th. The business services provider reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.02. The business had revenue of $33.57 million during the quarter, compared to analysts’ expectations of $33.37 million. PRGX Global had a positive return on equity of 0.88% and a negative net margin of 0.51%.
Several equities analysts have commented on the stock. Zacks Investment Research upgraded shares of PRGX Global from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 28th. ValuEngine upgraded shares of PRGX Global from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, B. Riley reiterated a “buy” rating and set a $8.00 price objective on shares of PRGX Global in a research report on Saturday, April 29th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $6.31.
Shares of PRGX Global (PRGX) traded up 0.78% during trading on Friday, reaching $6.50. 2,648 shares of the company were exchanged. PRGX Global has a 1-year low of $4.25 and a 1-year high of $7.25. The company’s market capitalization is $143.81 million. The stock’s 50 day moving average is $6.42 and its 200 day moving average is $6.17.
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In other news, Director Matthew A. Drapkin bought 79,606 shares of PRGX Global stock in a transaction dated Wednesday, May 17th. The shares were acquired at an average price of $6.12 per share, with a total value of $487,188.72. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matthew A. Drapkin bought 25,058 shares of PRGX Global stock in a transaction dated Friday, May 26th. The stock was purchased at an average cost of $6.21 per share, for a total transaction of $155,610.18. The disclosure for this purchase can be found here. In the last three months, insiders bought 198,280 shares of company stock worth $1,224,645. Insiders own 14.96% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC increased its stake in shares of PRGX Global by 1.0% in the first quarter. Renaissance Technologies LLC now owns 1,667,810 shares of the business services provider’s stock valued at $10,674,000 after buying an additional 17,320 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of PRGX Global by 1.2% in the first quarter. Vanguard Group Inc. now owns 1,183,504 shares of the business services provider’s stock valued at $7,574,000 after buying an additional 13,531 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of PRGX Global by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 691,679 shares of the business services provider’s stock valued at $4,427,000 after buying an additional 3,993 shares in the last quarter. Cannell Capital LLC increased its stake in shares of PRGX Global by 14.3% in the first quarter. Cannell Capital LLC now owns 652,043 shares of the business services provider’s stock valued at $4,173,000 after buying an additional 81,587 shares in the last quarter. Finally, Cadence Capital Management LLC increased its stake in shares of PRGX Global by 4.4% in the first quarter. Cadence Capital Management LLC now owns 223,852 shares of the business services provider’s stock valued at $1,433,000 after buying an additional 9,429 shares in the last quarter. 71.42% of the stock is currently owned by institutional investors and hedge funds.
About PRGX Global
PRGX Global, Inc (PRGX), together with its subsidiaries, provides recovery audit and spend analytics services. The Company provides recovery audit, procure-to-pay performance improvement, spend analytics and risk management services principally to large businesses and government agencies. The Company operates through three segments: Recovery Audit Services-Americas, Recovery Audit Services-Europe/Asia-Pacific and Adjacent Services.
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