Progress Software (PRGS) Issues FY18 Earnings Guidance

Progress Software (NASDAQ:PRGS) issued an update on its FY18 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $2.29-2.35 for the period, compared to the Thomson Reuters consensus estimate of $1.91. The company issued revenue guidance of $399-404 million, compared to the consensus revenue estimate of $400.69 million.Progress Software also updated its Q1 guidance to $0.46-0.48 EPS.

PRGS has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of Progress Software from a buy rating to a hold rating in a report on Wednesday, November 29th. ValuEngine lowered shares of Progress Software from a buy rating to a hold rating in a research note on Friday, December 1st. Finally, Benchmark reissued a buy rating and issued a $47.00 price target (up previously from $42.00) on shares of Progress Software in a research report on Tuesday, January 2nd. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $46.33.

Shares of Progress Software (NASDAQ:PRGS) opened at $49.66 on Friday. Progress Software has a 52-week low of $27.44 and a 52-week high of $53.60. The firm has a market capitalization of $2,311.46 and a PE ratio of 29.49. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.31.

Progress Software (NASDAQ:PRGS) last issued its quarterly earnings data on Wednesday, January 10th. The software maker reported $0.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.13. The company had revenue of $116.30 million during the quarter, compared to analyst estimates of $114.33 million. Progress Software had a return on equity of 21.25% and a net margin of 9.41%. Progress Software’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.62 earnings per share. sell-side analysts predict that Progress Software will post 1.95 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Wednesday, February 28th. Progress Software’s dividend payout ratio (DPR) is presently 72.73%.

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About Progress Software

Progress Software Corporation is engaged in application development. The Company operates through three segments: OpenEdge, Data Connectivity and Integration (DCI), and Application Development and Deployment (AppDev). The OpenEdge business segment provides the product enhancements and marketing support to its partner base.

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