Zacks: Brokerages Expect Information Services Group, Inc. (III) Will Post Quarterly Sales of $68.77 Million
Wall Street analysts predict that Information Services Group, Inc. (NASDAQ:III) will announce sales of $68.77 million for the current quarter, according to Zacks. Four analysts have made estimates for Information Services Group’s earnings, with estimates ranging from $67.75 million to $70.00 million. Information Services Group reported sales of $51.93 million during the same quarter last year, which would suggest a positive year over year growth rate of 32.4%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, November 8th.
According to Zacks, analysts expect that Information Services Group will report full year sales of $68.77 million for the current fiscal year, with estimates ranging from $270.26 million to $276.04 million. For the next year, analysts forecast that the company will report sales of $288.46 million per share, with estimates ranging from $282.15 million to $291.16 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Information Services Group.
Information Services Group (NASDAQ:III) last issued its earnings results on Monday, August 7th. The business services provider reported $0.06 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.06. Information Services Group had a negative return on equity of 10.15% and a negative net margin of 3.46%. The company had revenue of $68.04 million during the quarter, compared to the consensus estimate of $71.18 million.
III has been the topic of several recent research reports. Zacks Investment Research upgraded Information Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. B. Riley reiterated a “buy” rating and issued a $6.50 price objective on shares of Information Services Group in a research report on Friday, August 4th. ValuEngine upgraded Information Services Group from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Noble Financial reiterated a “buy” rating on shares of Information Services Group in a research report on Tuesday, August 8th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $5.50.
In other news, EVP Thomas S. Kucinski acquired 15,000 shares of the business’s stock in a transaction on Friday, August 18th. The shares were acquired at an average cost of $3.65 per share, with a total value of $54,750.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders purchased 35,947 shares of company stock worth $132,397 over the last three months. 12.00% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in III. Northern Right Capital Management L.P. raised its holdings in Information Services Group by 66.2% in the 2nd quarter. Northern Right Capital Management L.P. now owns 723,689 shares of the business services provider’s stock worth $2,974,000 after acquiring an additional 288,181 shares during the last quarter. Pointe Capital Management LLC bought a new stake in Information Services Group in the 2nd quarter worth approximately $657,000. Russell Investments Group Ltd. grew its position in Information Services Group by 9.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,427,740 shares of the business services provider’s stock worth $5,868,000 after purchasing an additional 118,210 shares during the period. Manatuck Hill Partners LLC bought a new stake in Information Services Group in the 2nd quarter worth approximately $377,000. Finally, SG Americas Securities LLC bought a new stake in Information Services Group in the 1st quarter worth approximately $180,000. Institutional investors own 41.85% of the company’s stock.
Information Services Group (NASDAQ III) opened at 4.10 on Friday. Information Services Group has a 52 week low of $2.95 and a 52 week high of $4.30. The company’s market capitalization is $177.46 million. The stock’s 50 day moving average price is $3.91 and its 200 day moving average price is $3.77.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Information Services Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Information Services Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.