$69.34 Million in Sales Expected for Information Services Group, Inc. (III) This Quarter
Brokerages expect Information Services Group, Inc. (NASDAQ:III) to post $69.34 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Information Services Group’s earnings. The highest sales estimate is $71.75 million and the lowest is $67.92 million. Information Services Group reported sales of $54.29 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 27.7%. The firm is scheduled to announce its next earnings results on Wednesday, March 14th.
On average, analysts expect that Information Services Group will report full year sales of $69.34 million for the current year, with estimates ranging from $270.86 million to $274.69 million. For the next year, analysts expect that the firm will report sales of $287.97 million per share, with estimates ranging from $282.78 million to $290.10 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Information Services Group.
Several brokerages have commented on III. Zacks Investment Research raised Information Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. B. Riley reaffirmed a “buy” rating and issued a $6.50 price objective on shares of Information Services Group in a research report on Wednesday, November 8th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Information Services Group has an average rating of “Buy” and an average price target of $5.50.
A number of hedge funds have recently modified their holdings of the stock. Northern Right Capital Management L.P. raised its stake in Information Services Group by 66.2% in the second quarter. Northern Right Capital Management L.P. now owns 723,689 shares of the business services provider’s stock valued at $2,974,000 after buying an additional 288,181 shares during the last quarter. Manatuck Hill Partners LLC purchased a new position in shares of Information Services Group in the second quarter worth about $377,000. Punch & Associates Investment Management Inc. raised its stake in shares of Information Services Group by 6.4% in the second quarter. Punch & Associates Investment Management Inc. now owns 895,000 shares of the business services provider’s stock worth $3,678,000 after purchasing an additional 53,739 shares during the last quarter. Dimensional Fund Advisors LP purchased a new position in shares of Information Services Group in the second quarter worth about $188,000. Finally, State Street Corp raised its stake in shares of Information Services Group by 9.1% in the second quarter. State Street Corp now owns 462,199 shares of the business services provider’s stock worth $1,899,000 after purchasing an additional 38,369 shares during the last quarter. 42.06% of the stock is currently owned by institutional investors.
Shares of Information Services Group (NASDAQ:III) traded up $0.08 during trading on Thursday, reaching $4.19. The company’s stock had a trading volume of 22,359 shares, compared to its average volume of 22,367. The company has a market cap of $177.94, a P/E ratio of -19.95, a PEG ratio of 1.33 and a beta of 0.38. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 1.58. Information Services Group has a 12 month low of $2.95 and a 12 month high of $4.63.
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About Information Services Group
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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