$38.86 Million in Sales Expected for PRGX Global Inc (PRGX) This Quarter

Analysts expect PRGX Global Inc (NASDAQ:PRGX) to report sales of $38.86 million for the current quarter, Zacks reports. Two analysts have made estimates for PRGX Global’s earnings, with the highest sales estimate coming in at $39.00 million and the lowest estimate coming in at $38.71 million. PRGX Global posted sales of $36.72 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.8%. The business is scheduled to issue its next quarterly earnings results on Tuesday, May 7th.

According to Zacks, analysts expect that PRGX Global will report full-year sales of $186.27 million for the current fiscal year, with estimates ranging from $186.00 million to $186.54 million. For the next financial year, analysts anticipate that the business will post sales of $202.80 million, with estimates ranging from $200.00 million to $205.60 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover PRGX Global.

PRGX Global (NASDAQ:PRGX) last posted its quarterly earnings data on Thursday, March 7th. The business services provider reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.02. The firm had revenue of $49.63 million for the quarter, compared to the consensus estimate of $52.44 million. PRGX Global had a net margin of 2.67% and a return on equity of 3.34%.

PRGX has been the topic of several recent research reports. B. Riley set a $12.00 price objective on shares of PRGX Global and gave the company a “buy” rating in a report on Friday, March 8th. ValuEngine cut PRGX Global from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 4th. Zacks Investment Research cut shares of PRGX Global from a “buy” rating to a “hold” rating in a research report on Saturday, March 9th. Finally, Barrington Research restated an “outperform” rating on shares of PRGX Global in a research report on Tuesday, March 5th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $12.00.

In related news, Director Matthew A. Drapkin acquired 21,300 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was purchased at an average price of $8.44 per share, with a total value of $179,772.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 17.10% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. Northern Trust Corp boosted its position in PRGX Global by 495.5% during the 2nd quarter. Northern Trust Corp now owns 230,457 shares of the business services provider’s stock worth $2,236,000 after buying an additional 191,758 shares during the period. Wells Fargo & Company MN boosted its position in PRGX Global by 89.2% during the 3rd quarter. Wells Fargo & Company MN now owns 43,663 shares of the business services provider’s stock worth $380,000 after buying an additional 20,582 shares during the period. Dimensional Fund Advisors LP boosted its position in PRGX Global by 5.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 801,603 shares of the business services provider’s stock worth $6,974,000 after buying an additional 41,740 shares during the period. Vanguard Group Inc. boosted its position in PRGX Global by 3.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,140,649 shares of the business services provider’s stock worth $9,923,000 after buying an additional 42,627 shares during the period. Finally, Vanguard Group Inc boosted its position in PRGX Global by 3.9% during the 3rd quarter. Vanguard Group Inc now owns 1,140,649 shares of the business services provider’s stock worth $9,923,000 after buying an additional 42,627 shares during the period. 78.45% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:PRGX traded down $0.09 during midday trading on Wednesday, reaching $7.92. The company had a trading volume of 34,069 shares, compared to its average volume of 45,768. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.81 and a current ratio of 1.81. The company has a market capitalization of $184.88 million, a P/E ratio of 56.57, a price-to-earnings-growth ratio of 1.94 and a beta of 0.53. PRGX Global has a 52-week low of $7.57 and a 52-week high of $10.30.

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. It operates through three segments: Recovery Audit Services – Americas, Recovery Audit Services – Europe/Asia-Pacific, and Adjacent Services.

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