Wall Street brokerages forecast that PRGX Global Inc (NASDAQ:PRGX) will report $46.53 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for PRGX Global’s earnings, with the highest sales estimate coming in at $47.06 million and the lowest estimate coming in at $46.00 million. PRGX Global reported sales of $49.63 million during the same quarter last year, which would suggest a negative year over year growth rate of 6.2%. The company is expected to announce its next quarterly earnings results on Thursday, March 5th.
On average, analysts expect that PRGX Global will report full-year sales of $169.60 million for the current fiscal year, with estimates ranging from $169.07 million to $170.13 million. For the next year, analysts expect that the business will post sales of $170.34 million, with estimates ranging from $167.25 million to $173.43 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow PRGX Global.
PRGX Global (NASDAQ:PRGX) last released its quarterly earnings results on Wednesday, October 30th. The business services provider reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.04). The company had revenue of $42.29 million for the quarter, compared to the consensus estimate of $42.11 million. PRGX Global had a negative net margin of 0.84% and a negative return on equity of 6.66%.
A number of equities analysts recently commented on the company. Barrington Research set a $9.00 price target on PRGX Global and gave the company a “buy” rating in a research note on Monday, October 21st. ValuEngine raised PRGX Global from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research raised PRGX Global from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 1st. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $10.50.
A number of institutional investors have recently made changes to their positions in PRGX. Zebra Capital Management LLC purchased a new stake in PRGX Global during the third quarter valued at approximately $71,000. Trellus Management Company LLC purchased a new stake in shares of PRGX Global in the third quarter worth approximately $796,000. California Public Employees Retirement System raised its holdings in shares of PRGX Global by 5.8% in the third quarter. California Public Employees Retirement System now owns 96,607 shares of the business services provider’s stock worth $498,000 after buying an additional 5,300 shares during the period. BlackRock Inc. raised its holdings in shares of PRGX Global by 0.3% in the second quarter. BlackRock Inc. now owns 1,658,623 shares of the business services provider’s stock worth $11,146,000 after buying an additional 5,683 shares during the period. Finally, Parametric Portfolio Associates LLC purchased a new stake in shares of PRGX Global in the second quarter worth approximately $96,000. 73.43% of the stock is owned by institutional investors.
NASDAQ PRGX opened at $4.47 on Friday. The firm has a market cap of $103.30 million, a price-to-earnings ratio of -63.85, a price-to-earnings-growth ratio of 1.32 and a beta of 0.63. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.75. The business has a 50-day moving average price of $4.51 and a 200-day moving average price of $5.25. PRGX Global has a twelve month low of $3.95 and a twelve month high of $9.68.
About PRGX Global
PRGX Global, Inc, together with its subsidiaries, provides recovery audit services to businesses and government agencies having payment transactions and procurement environments worldwide. Its recovery audit services are based on the mining of clients' purchasing-related data for overpayments to the third-party suppliers.
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