PRGX Global Inc (NASDAQ:PRGX) Expected to Post Earnings of -$0.03 Per Share

Wall Street brokerages expect PRGX Global Inc (NASDAQ:PRGX) to post earnings of ($0.03) per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for PRGX Global’s earnings, with the lowest EPS estimate coming in at ($0.04) and the highest estimate coming in at ($0.01). PRGX Global reported earnings of ($0.18) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 83.3%. The firm is scheduled to report its next earnings results on Tuesday, August 4th.

According to Zacks, analysts expect that PRGX Global will report full year earnings of $0.17 per share for the current year, with EPS estimates ranging from $0.13 to $0.21. For the next financial year, analysts anticipate that the business will report earnings of $0.30 per share, with EPS estimates ranging from $0.26 to $0.33. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover PRGX Global.

PRGX Global (NASDAQ:PRGX) last issued its earnings results on Tuesday, April 28th. The business services provider reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.01). The company had revenue of $36.84 million for the quarter, compared to analysts’ expectations of $36.08 million. PRGX Global had a negative return on equity of 7.24% and a negative net margin of 7.87%.

Several equities research analysts have recently commented on PRGX shares. B. Riley reissued a “buy” rating and set a $7.25 price target on shares of PRGX Global in a research note on Thursday. Barrington Research started coverage on PRGX Global in a research note on Thursday, May 28th. They issued a “buy” rating and a $7.00 price objective for the company. Finally, Zacks Investment Research cut PRGX Global from a “hold” rating to a “sell” rating in a report on Wednesday, June 10th. One analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. PRGX Global has an average rating of “Buy” and a consensus target price of $6.08.

PRGX stock traded up $0.19 during trading on Wednesday, reaching $4.61. 11,153 shares of the company were exchanged, compared to its average volume of 241,581. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.84 and a current ratio of 2.84. The stock’s 50 day moving average price is $3.78 and its 200 day moving average price is $3.80. PRGX Global has a 52-week low of $1.77 and a 52-week high of $7.37. The company has a market cap of $104.28 million, a P/E ratio of -8.18, a PEG ratio of 1.73 and a beta of 1.19.

Several large investors have recently bought and sold shares of the company. North Run Capital LP purchased a new position in shares of PRGX Global during the first quarter valued at approximately $1,848,000. State Street Corp raised its holdings in PRGX Global by 4.0% in the 4th quarter. State Street Corp now owns 333,961 shares of the business services provider’s stock valued at $1,643,000 after acquiring an additional 12,954 shares during the last quarter. Trellus Management Company LLC raised its holdings in PRGX Global by 60.0% in the 1st quarter. Trellus Management Company LLC now owns 299,438 shares of the business services provider’s stock valued at $838,000 after acquiring an additional 112,239 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of PRGX Global by 6.8% during the 1st quarter. Geode Capital Management LLC now owns 280,315 shares of the business services provider’s stock worth $784,000 after purchasing an additional 17,958 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in shares of PRGX Global by 23.0% during the first quarter. Wells Fargo & Company MN now owns 86,660 shares of the business services provider’s stock worth $243,000 after purchasing an additional 16,212 shares during the last quarter. 69.70% of the stock is owned by institutional investors and hedge funds.

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

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