Analysts expect that PRGX Global (NASDAQ:PRGX) will announce $39.70 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for PRGX Global’s earnings. The highest sales estimate is $39.80 million and the lowest is $39.59 million. PRGX Global posted sales of $38.51 million in the same quarter last year, which suggests a positive year over year growth rate of 3.1%. The company is expected to issue its next earnings results on Tuesday, August 7th.
According to Zacks, analysts expect that PRGX Global will report full-year sales of $174.88 million for the current fiscal year, with estimates ranging from $174.77 million to $174.98 million. For the next fiscal year, analysts expect that the company will report sales of $190.62 million per share, with estimates ranging from $189.23 million to $192.00 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for PRGX Global.
PRGX Global (NASDAQ:PRGX) last announced its earnings results on Tuesday, May 1st. The business services provider reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.07. PRGX Global had a return on equity of 4.60% and a net margin of 1.64%. The firm had revenue of $36.72 million during the quarter, compared to the consensus estimate of $35.00 million.
PRGX has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded PRGX Global from a “hold” rating to a “sell” rating in a research report on Wednesday, February 14th. TheStreet raised PRGX Global from a “c+” rating to a “b+” rating in a research report on Tuesday, March 6th. ValuEngine raised PRGX Global from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Barrington Research boosted their price target on PRGX Global to $11.00 and gave the stock an “outperform” rating in a research report on Friday, March 2nd. Finally, B. Riley boosted their price target on PRGX Global from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, May 2nd. Two research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Strong Buy” and an average target price of $11.33.
NASDAQ:PRGX traded up $0.07 during mid-day trading on Friday, hitting $9.42. 434 shares of the company’s stock traded hands, compared to its average volume of 59,159. PRGX Global has a 12 month low of $9.40 and a 12 month high of $9.45. The company has a market cap of $218.85 million, a price-to-earnings ratio of 72.69, a PEG ratio of 3.69 and a beta of 0.85. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.23.
In other PRGX Global news, SVP Victor A. Allums sold 18,000 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $8.49, for a total transaction of $152,820.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last three months, insiders have sold 66,701 shares of company stock worth $589,968. Company insiders own 14.96% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Monashee Investment Management LLC purchased a new position in PRGX Global in the 4th quarter valued at approximately $150,000. JPMorgan Chase & Co. grew its holdings in PRGX Global by 608.1% in the first quarter. JPMorgan Chase & Co. now owns 17,823 shares of the business services provider’s stock worth $168,000 after purchasing an additional 15,306 shares during the period. Element Capital Management LLC purchased a new stake in PRGX Global in the first quarter worth about $200,000. ClariVest Asset Management LLC grew its holdings in PRGX Global by 138.9% in the first quarter. ClariVest Asset Management LLC now owns 32,222 shares of the business services provider’s stock worth $304,000 after purchasing an additional 18,737 shares during the period. Finally, Tibra Equities Europe Ltd purchased a new stake in PRGX Global in the first quarter worth about $389,000. 71.48% of the stock is currently owned by hedge funds and other institutional investors.
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. It operates through three segments: Recovery Audit Services ? Americas, Recovery Audit Services – Europe/Asia-Pacific, and Adjacent Services.
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