Zacks: Analysts Anticipate PRGX Global Inc (PRGX) Will Post Quarterly Sales of $38.86 Million

Wall Street analysts expect PRGX Global Inc (NASDAQ:PRGX) to announce $38.86 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for PRGX Global’s earnings, with estimates ranging from $38.71 million to $39.00 million. PRGX Global reported sales of $36.72 million during the same quarter last year, which would suggest a positive year over year growth rate of 5.8%. The firm is expected to report its next quarterly earnings report on Tuesday, May 7th.

According to Zacks, analysts expect that PRGX Global will report full year sales of $186.27 million for the current financial year, with estimates ranging from $186.00 million to $186.54 million. For the next financial year, analysts anticipate that the firm will post sales of $202.80 million, with estimates ranging from $200.00 million to $205.60 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for PRGX Global.

PRGX Global (NASDAQ:PRGX) last announced its quarterly earnings results on Thursday, March 7th. The business services provider reported $0.26 EPS for the quarter, beating the consensus estimate of $0.24 by $0.02. PRGX Global had a net margin of 2.67% and a return on equity of 3.34%. The company had revenue of $49.63 million for the quarter, compared to analyst estimates of $52.44 million.

PRGX has been the topic of several analyst reports. B. Riley set a $12.00 price target on shares of PRGX Global and gave the company a “buy” rating in a research note on Friday, March 8th. ValuEngine lowered shares of PRGX Global from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Zacks Investment Research upgraded shares of PRGX Global from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research note on Wednesday, January 2nd. Finally, Barrington Research restated an “outperform” rating on shares of PRGX Global in a research note on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $12.00.

Shares of NASDAQ:PRGX remained flat at $$7.85 during trading hours on Friday. 13,766 shares of the company’s stock traded hands, compared to its average volume of 42,478. PRGX Global has a 12 month low of $7.17 and a 12 month high of $10.30. The firm has a market capitalization of $176.11 million, a price-to-earnings ratio of 56.07, a P/E/G ratio of 1.85 and a beta of 0.51. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.32.

In related news, Director Matthew A. Drapkin acquired 21,300 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was acquired at an average cost of $8.44 per share, for a total transaction of $179,772.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 17.10% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Bank of America Corp DE boosted its holdings in shares of PRGX Global by 20.2% in the fourth quarter. Bank of America Corp DE now owns 24,312 shares of the business services provider’s stock valued at $230,000 after acquiring an additional 4,078 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of PRGX Global by 53.3% in the fourth quarter. Rhumbline Advisers now owns 26,633 shares of the business services provider’s stock valued at $252,000 after acquiring an additional 9,262 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in PRGX Global by 89.2% during the third 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 in the last quarter. Bank of New York Mellon Corp boosted its holdings in PRGX Global by 14.5% during the fourth quarter. Bank of New York Mellon Corp now owns 76,465 shares of the business services provider’s stock worth $725,000 after buying an additional 9,704 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in PRGX Global by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 240,963 shares of the business services provider’s stock worth $2,281,000 after buying an additional 11,833 shares in the last quarter. Institutional investors and hedge funds own 78.45% of the company’s stock.

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 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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