PRGX Global, Inc. (PRGX) Expected to Post Quarterly Sales of $40.53 Million
Brokerages forecast that PRGX Global, Inc. (NASDAQ:PRGX) will report sales of $40.53 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for PRGX Global’s earnings, with the highest sales estimate coming in at $40.56 million and the lowest estimate coming in at $40.49 million. PRGX Global reported sales of $35.14 million during the same quarter last year, which indicates a positive year-over-year growth rate of 15.3%. The business is scheduled to report its next earnings results on Thursday, October 26th.
According to Zacks, analysts expect that PRGX Global will report full year sales of $40.53 million for the current financial year, with estimates ranging from $157.21 million to $158.27 million. For the next year, analysts expect that the business will report sales of $168.00 million per share, with estimates ranging from $167.00 million to $168.99 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow PRGX Global.
PRGX Global (NASDAQ:PRGX) last posted its quarterly earnings data on Tuesday, August 1st. The business services provider reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.06. The company had revenue of $38.51 million for the quarter, compared to analysts’ expectations of $37.06 million. PRGX Global had a negative net margin of 0.55% and a positive return on equity of 0.30%.
A number of equities analysts have recently issued reports on the company. B. Riley reissued a “buy” rating and set a $8.00 price target on shares of PRGX Global in a research report on Thursday. ValuEngine downgraded PRGX Global from a “hold” rating to a “sell” rating and dropped their price target for the stock from $6.00 to $4.00 in a research report on Thursday, May 11th. Finally, Zacks Investment Research raised PRGX Global from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $6.31.
In related news, major shareholder Strategic Opportunit Headlands acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The stock was purchased at an average cost of $6.16 per share, for a total transaction of $61,600.00. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Matthew A. Drapkin acquired 38,884 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The shares were bought at an average price of $6.23 per share, with a total value of $242,247.32. The disclosure for this purchase can be found here. Insiders have purchased a total of 153,676 shares of company stock valued at $951,738 over the last 90 days. 14.96% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of PRGX. TFS Capital LLC bought a new stake in shares of PRGX Global during the first quarter worth $104,000. Cadence Capital Management LLC boosted 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 worth $1,433,000 after buying an additional 9,429 shares during the period. Credit Agricole S A bought a new stake in shares of PRGX Global during the first quarter worth $296,000. Vanguard Group Inc. boosted 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 worth $7,574,000 after buying an additional 13,531 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in 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 worth $4,427,000 after buying an additional 3,993 shares during the period. Hedge funds and other institutional investors own 70.92% of the company’s stock.
PRGX Global (NASDAQ:PRGX) opened at 6.25 on Friday. The company’s market capitalization is $139.91 million. The firm’s 50-day moving average is $6.23 and its 200-day moving average is $6.27. PRGX Global has a 12 month low of $4.25 and a 12 month high of $7.25.
TRADEMARK VIOLATION NOTICE: “PRGX Global, Inc. (PRGX) Expected to Post Quarterly Sales of $40.53 Million” was reported by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another website, it was stolen and reposted in violation of US & international copyright and trademark legislation. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2017/08/19/prgx-global-inc-prgx-expected-to-post-quarterly-sales-of-40-53-million.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for PRGX Global Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PRGX Global Inc. and related companies with MarketBeat.com's FREE daily email newsletter.