Information Services Group, Inc. (III) Expected to Announce Earnings of $0.06 Per Share
Wall Street brokerages expect Information Services Group, Inc. (NASDAQ:III) to report earnings per share (EPS) of $0.06 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Information Services Group’s earnings. Information Services Group posted earnings of $0.04 per share in the same quarter last year, which suggests a positive year over year growth rate of 50%. The business is scheduled to issue its next quarterly earnings report before the market opens on Monday, August 7th.
On average, analysts expect that Information Services Group will report full-year earnings of $0.23 per share for the current fiscal year. For the next financial year, analysts forecast that the firm will post earnings of $0.26 per share. Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Information Services Group.
Information Services Group (NASDAQ:III) last issued its quarterly earnings results on Monday, May 8th. The business services provider reported ($0.01) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by $0.05. The firm had revenue of $66.56 million during the quarter, compared to analyst estimates of $64.50 million. Information Services Group had a negative return on equity of 13.06% and a negative net margin of 2.75%.
Several brokerages have recently issued reports on III. B. Riley restated a “buy” rating and issued a $6.50 price objective on shares of Information Services Group in a research note on Friday. ValuEngine upgraded Information Services Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 3rd. Zacks Investment Research cut Information Services Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Noble Financial restated a “buy” rating on shares of Information Services Group in a research note on Friday, June 9th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Information Services Group currently has a consensus rating of “Buy” and an average target price of $5.67.
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Shares of Information Services Group (III) traded down 12.976% on Monday, hitting $3.655. 350,591 shares of the stock were exchanged. Information Services Group has a 52-week low of $2.95 and a 52-week high of $4.32. The company’s market cap is $157.34 million. The company has a 50 day moving average of $4.08 and a 200 day moving average of $3.53.
In related news, CEO Michael P. Connors bought 15,727 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The shares were purchased at an average cost of $3.81 per share, with a total value of $59,919.87. Following the completion of the acquisition, the chief executive officer now directly owns 4,153,830 shares in the company, valued at $15,826,092.30. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 12.00% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the company. TIAA CREF Investment Management LLC raised its stake in Information Services Group by 1.6% in the first quarter. TIAA CREF Investment Management LLC now owns 97,320 shares of the business services provider’s stock valued at $307,000 after buying an additional 1,486 shares during the period. Rhumbline Advisers raised its stake in Information Services Group by 6.1% in the second quarter. Rhumbline Advisers now owns 32,784 shares of the business services provider’s stock valued at $135,000 after buying an additional 1,890 shares during the period. Bank of New York Mellon Corp raised its stake in Information Services Group by 2.8% in the first quarter. Bank of New York Mellon Corp now owns 95,580 shares of the business services provider’s stock valued at $301,000 after buying an additional 2,623 shares during the period. SG Americas Securities LLC raised its stake in Information Services Group by 7.9% in the second quarter. SG Americas Securities LLC now owns 61,481 shares of the business services provider’s stock valued at $253,000 after buying an additional 4,487 shares during the period. Finally, Teachers Advisors LLC raised its stake in Information Services Group by 13.9% in the fourth quarter. Teachers Advisors LLC now owns 57,997 shares of the business services provider’s stock valued at $211,000 after buying an additional 7,084 shares during the period. 39.87% of the stock is currently owned by hedge funds and other institutional investors.
Information Services Group Company Profile
Information Services Group, Inc is a technology insights, market intelligence and advisory services company. The Company operates in the segment of fact-based sourcing advisory services. It supports private and public sector organizations to transform and optimize their operational environments through research, benchmarking, consulting and managed services with a focus on information technology, business process transformation, program management services and enterprise resource planning.
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