Brokerages Expect PRGX Global Inc (NASDAQ:PRGX) Will Announce Earnings of $0.03 Per Share

Analysts expect that PRGX Global Inc (NASDAQ:PRGX) will post $0.03 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have provided estimates for PRGX Global’s earnings. The lowest EPS estimate is ($0.02) and the highest is $0.08. PRGX Global posted earnings of $0.06 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 50%. The business is expected to report its next earnings report on Thursday, November 7th.

On average, analysts expect that PRGX Global will report full-year earnings of ($0.03) per share for the current financial year, with EPS estimates ranging from ($0.13) to $0.07. For the next financial year, analysts forecast that the business will post earnings of $0.30 per share, with EPS estimates ranging from $0.22 to $0.37. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover PRGX Global.

PRGX Global (NASDAQ:PRGX) last announced its quarterly earnings results on Tuesday, July 30th. The business services provider reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.13). The company had revenue of $41.97 million for the quarter, compared to analysts’ expectations of $44.96 million. PRGX Global had a net margin of 0.85% and a negative return on equity of 1.86%.

A number of analysts have recently issued reports on the stock. Zacks Investment Research raised shares of PRGX Global from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Barrington Research set a $9.00 price target on shares of PRGX Global and gave the company a “buy” rating in a report on Monday. Finally, ValuEngine raised shares of PRGX Global from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $10.67.

In other PRGX Global news, CEO Ronald E. Stewart acquired 10,000 shares of the stock in a transaction dated Monday, August 26th. The shares were purchased at an average price of $5.01 per share, for a total transaction of $50,100.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph E. Whitters acquired 5,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was acquired at an average price of $5.97 per share, for a total transaction of $29,850.00. Following the purchase, the director now directly owns 130,653 shares in the company, valued at $779,998.41. The disclosure for this purchase can be found here. 17.75% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of the company. Northern Trust Corp lifted its stake in shares of PRGX Global by 1.3% in the 2nd quarter. Northern Trust Corp now owns 245,693 shares of the business services provider’s stock worth $1,651,000 after purchasing an additional 3,138 shares during the period. Teton Advisors Inc. raised its stake in PRGX Global by 2.5% during the 2nd quarter. Teton Advisors Inc. now owns 164,019 shares of the business services provider’s stock worth $1,102,000 after acquiring an additional 4,000 shares during the period. BlackRock Inc. raised its stake in PRGX Global by 0.3% during the 2nd quarter. BlackRock Inc. now owns 1,658,623 shares of the business services provider’s stock worth $11,146,000 after acquiring an additional 5,683 shares during the period. Parametric Portfolio Associates LLC bought a new stake in PRGX Global during the 2nd quarter worth approximately $96,000. Finally, Wells Fargo & Company MN raised its stake in PRGX Global by 44.4% during the 2nd quarter. Wells Fargo & Company MN now owns 81,153 shares of the business services provider’s stock worth $545,000 after acquiring an additional 24,946 shares during the period. Hedge funds and other institutional investors own 73.77% of the company’s stock.

Shares of NASDAQ PRGX remained flat at $$5.09 during trading on Wednesday. 4,858 shares of the stock were exchanged, compared to its average volume of 40,889. The firm’s 50-day moving average price is $5.42 and its 200 day moving average price is $6.33. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.97 and a quick ratio of 1.97. The stock has a market capitalization of $126.06 million, a PE ratio of 36.36 and a beta of 0.61. PRGX Global has a 12-month low of $4.51 and a 12-month high of $9.68.

PRGX Global Company Profile

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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Earnings History and Estimates for PRGX Global (NASDAQ:PRGX)

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