Brokerages Expect PRGX Global Inc (PRGX) Will Post Quarterly Sales of $44.96 Million

Wall Street brokerages predict that PRGX Global Inc (NASDAQ:PRGX) will post $44.96 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for PRGX Global’s earnings. The lowest sales estimate is $44.75 million and the highest is $45.17 million. PRGX Global posted sales of $42.10 million in the same quarter last year, which would indicate a positive year over year growth rate of 6.8%. The firm is scheduled to announce its next quarterly earnings results on Thursday, August 8th.

According to Zacks, analysts expect that PRGX Global will report full-year sales of $186.22 million for the current year, with estimates ranging from $185.80 million to $186.64 million. For the next year, analysts forecast that the company will post sales of $201.36 million, with estimates ranging from $197.50 million to $205.22 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that that provide coverage for PRGX Global.

PRGX Global (NASDAQ:PRGX) last issued its quarterly earnings results on Tuesday, April 30th. The business services provider reported ($0.19) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.08). The company had revenue of $38.80 million during the quarter, compared to the consensus estimate of $38.86 million. PRGX Global had a return on equity of 0.23% and a net margin of 1.64%.

A number of brokerages have recently commented on PRGX. ValuEngine lowered shares of PRGX Global from a “strong-buy” rating to a “buy” rating in a report on Monday, February 4th. Barrington Research reissued an “outperform” rating on shares of PRGX Global in a report on Tuesday, March 5th. Zacks Investment Research lowered shares of PRGX Global from a “buy” rating to a “hold” rating in a report on Saturday, March 9th. B. Riley set a $12.00 price target on shares of PRGX Global and gave the stock a “buy” rating in a report on Friday, March 8th. Finally, TheStreet lowered shares of PRGX Global from a “b” rating to a “c” rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating and three have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $12.00.

In other PRGX Global news, CEO Ronald E. Stewart bought 10,000 shares of PRGX Global stock in a transaction that occurred on Tuesday, May 7th. The shares were bought at an average price of $7.70 per share, with a total value of $77,000.00. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Matthew A. Drapkin bought 21,300 shares of PRGX Global stock in a transaction that occurred on Wednesday, March 13th. The shares were acquired at an average cost of $8.44 per share, for a total transaction of $179,772.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 61,300 shares of company stock worth $504,672. 17.75% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in PRGX. Wells Fargo & Company MN grew its holdings in shares of 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 valued at $380,000 after purchasing an additional 20,582 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of 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 valued at $6,974,000 after purchasing an additional 41,740 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of 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 valued at $9,923,000 after purchasing an additional 42,627 shares during the last quarter. Vanguard Group Inc grew its holdings in shares of 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 valued at $9,923,000 after purchasing an additional 42,627 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of PRGX Global by 53.3% during the 4th quarter. Rhumbline Advisers now owns 26,633 shares of the business services provider’s stock valued at $252,000 after purchasing an additional 9,262 shares during the last quarter. 76.30% of the stock is currently owned by institutional investors.

Shares of NASDAQ:PRGX traded down $0.05 during trading on Friday, reaching $7.34. The company had a trading volume of 11,515 shares, compared to its average volume of 39,498. The firm has a market capitalization of $173.01 million, a price-to-earnings ratio of 52.43, a PEG ratio of 2.30 and a beta of 0.50. PRGX Global has a 12 month low of $7.17 and a 12 month high of $10.20. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.94 and a quick ratio of 1.94.

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 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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Earnings History and Estimates for PRGX Global (NASDAQ:PRGX)

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