Progress Software (NASDAQ:PRGS) announced its quarterly earnings data on Wednesday, January 10th. The software maker reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.13, Bloomberg Earnings reports. The business had revenue of $116.30 million for the quarter, compared to analysts’ expectations of $114.33 million. Progress Software had a return on equity of 21.25% and a net margin of 9.41%. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.62 EPS. Progress Software updated its Q1 guidance to $0.46-0.48 EPS and its FY18 guidance to $2.29-2.35 EPS.
Progress Software (NASDAQ:PRGS) opened at $49.66 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.27 and a current ratio of 1.27. The company has a market capitalization of $2,311.46 and a P/E ratio of 29.49. Progress Software has a twelve month low of $27.44 and a twelve month high of $53.60.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be issued a dividend of $0.14 per share. The ex-dividend date is Wednesday, February 28th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.13%. Progress Software’s dividend payout ratio is presently 72.73%.
PRGS has been the subject of a number of recent analyst reports. Benchmark reaffirmed a “buy” rating and set a $47.00 target price (up previously from $42.00) on shares of Progress Software in a report on Tuesday, January 2nd. Zacks Investment Research lowered Progress Software from a “buy” rating to a “hold” rating in a report on Wednesday, November 29th. Finally, ValuEngine lowered Progress Software from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $46.33.
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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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