Zacks: Analysts Expect PRGX Global, Inc. (PRGX) Will Post Quarterly Sales of $40.53 Million
Equities research analysts forecast that PRGX Global, Inc. (NASDAQ:PRGX) will announce sales of $40.53 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for PRGX Global’s earnings. The lowest sales estimate is $40.49 million and the highest is $40.56 million. PRGX Global posted sales of $35.14 million during the same quarter last year, which suggests a positive year over year growth rate of 15.3%. The firm is expected to announce its next quarterly earnings results on Thursday, October 26th.
On average, 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 financial year, analysts expect that the business will post sales of $168.00 million per share, with estimates ranging from $167.00 million to $168.99 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow PRGX Global.
PRGX Global (NASDAQ:PRGX) last posted its earnings results on Tuesday, August 1st. The business services provider reported ($0.01) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.06. PRGX Global had a negative net margin of 0.55% and a positive return on equity of 0.30%. The firm had revenue of $38.51 million for the quarter, compared to analysts’ expectations of $37.06 million.
Several equities analysts have commented on the stock. B. Riley reissued a “buy” rating and set a $8.00 target price on shares of PRGX Global in a research report on Saturday, August 5th. ValuEngine raised shares of PRGX Global from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Zacks Investment Research raised shares of 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 assigned a buy rating to the stock. PRGX Global presently has a consensus rating of “Buy” and a consensus target price of $6.31.
In other PRGX Global news, Director Matthew A. Drapkin bought 13,947 shares of the stock in a transaction on Tuesday, August 22nd. The shares were acquired at an average price of $6.34 per share, with a total value of $88,423.98. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Strategic Opportunit Headlands bought 10,000 shares of the stock in a transaction on Thursday, August 3rd. The shares were acquired at an average cost of $6.16 per share, for a total transaction of $61,600.00. The disclosure for this purchase can be found here. Insiders purchased a total of 95,510 shares of company stock worth $598,368 in the last ninety days. 14.96% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the business. GSA Capital Partners LLP raised its holdings in PRGX Global by 3.7% during the 2nd quarter. GSA Capital Partners LLP now owns 44,014 shares of the business services provider’s stock valued at $286,000 after acquiring an additional 1,584 shares during the period. Dimensional Fund Advisors LP raised its holdings in PRGX Global by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 691,679 shares of the business services provider’s stock valued at $4,427,000 after acquiring an additional 3,993 shares during the period. OxFORD Asset Management LLP raised its holdings in PRGX Global by 74.7% during the 2nd quarter. OxFORD Asset Management LLP now owns 18,858 shares of the business services provider’s stock valued at $123,000 after acquiring an additional 8,063 shares during the period. Cadence Capital Management LLC raised its holdings in PRGX Global by 4.4% during the 1st quarter. Cadence Capital Management LLC now owns 223,852 shares of the business services provider’s stock valued at $1,433,000 after acquiring an additional 9,429 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in PRGX Global by 161.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 18,999 shares of the business services provider’s stock valued at $123,000 after acquiring an additional 11,730 shares during the period. 70.76% of the stock is currently owned by institutional investors and hedge funds.
PRGX Global (NASDAQ:PRGX) opened at 7.05 on Thursday. The company’s market cap is $157.82 million. The firm’s 50 day moving average is $6.31 and its 200 day moving average is $6.35. PRGX Global has a 52-week low of $4.25 and a 52-week high of $7.25.
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PRGX Global Company Profile
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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