Zacks: Brokerages Anticipate PRGX Global Inc (PRGX) to Announce $0.03 EPS

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Brokerages expect PRGX Global Inc (NASDAQ:PRGX) to post earnings of $0.03 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for PRGX Global’s earnings. The lowest EPS estimate is $0.01 and the highest is $0.04. PRGX Global posted earnings per share of $0.05 during the same quarter last year, which would suggest a negative year over year growth rate of 40%. The business is scheduled to announce its next earnings report on Thursday, November 1st.

According to Zacks, analysts expect that PRGX Global will report full year earnings of $0.04 per share for the current fiscal year, with EPS estimates ranging from ($0.02) to $0.09. For the next fiscal year, analysts expect that the company will report earnings of $0.29 per share, with EPS estimates ranging from $0.28 to $0.29. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover PRGX Global.

PRGX Global (NASDAQ:PRGX) last posted its quarterly earnings results on Thursday, August 9th. The business services provider reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.08). The firm had revenue of $42.10 million for the quarter, compared to analyst estimates of $39.70 million. PRGX Global had a return on equity of 0.06% and a net margin of 0.28%.

Several brokerages have recently commented on PRGX. Barrington Research reissued a “buy” rating and issued a $13.00 price objective on shares of PRGX Global in a research note on Wednesday, September 19th. Zacks Investment Research downgraded PRGX Global from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 15th. ValuEngine raised PRGX Global from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 28th. Finally, TheStreet downgraded PRGX Global from a “b” rating to a “c+” rating in a research note on Friday, August 31st. One research analyst has rated the stock with a sell rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. PRGX Global has an average rating of “Buy” and a consensus target price of $12.00.

Shares of PRGX Global stock traded down $0.15 on Friday, hitting $8.31. The company had a trading volume of 45,845 shares, compared to its average volume of 82,248. The company has a market cap of $198.95 million, a PE ratio of 39.57, a price-to-earnings-growth ratio of 19.34 and a beta of 0.75. PRGX Global has a 1 year low of $6.93 and a 1 year high of $10.30. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.30.

In related news, major shareholder Strategic Opportunit Headlands acquired 13,959 shares of the stock in a transaction dated Thursday, September 27th. The stock was purchased at an average cost of $8.56 per share, with a total value of $119,489.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Matthew A. Drapkin acquired 7,310 shares of the stock in a transaction dated Thursday, August 16th. The stock was bought at an average cost of $8.95 per share, with a total value of $65,424.50. The disclosure for this purchase can be found here. Over the last three months, insiders bought 87,672 shares of company stock valued at $798,900. Company insiders own 17.10% of the company’s stock.

Several institutional investors have recently modified their holdings of PRGX. Ramsey Quantitative Systems raised its stake in shares of PRGX Global by 110.4% in the third quarter. Ramsey Quantitative Systems now owns 16,583 shares of the business services provider’s stock worth $144,000 after purchasing an additional 8,700 shares during the last quarter. Macquarie Group Ltd. grew its holdings in shares of PRGX Global by 68.0% in the second quarter. Macquarie Group Ltd. now owns 15,790 shares of the business services provider’s stock valued at $153,000 after acquiring an additional 6,390 shares in the last quarter. Rhumbline Advisers bought a new position in shares of PRGX Global in the second quarter valued at approximately $165,000. JPMorgan Chase & Co. grew its holdings in shares of PRGX Global by 608.1% in the first quarter. JPMorgan Chase & Co. now owns 17,823 shares of the business services provider’s stock valued at $168,000 after acquiring an additional 15,306 shares in the last quarter. Finally, NJ State Employees Deferred Compensation Plan bought a new position in shares of PRGX Global in the second quarter valued at approximately $175,000. 79.51% of the stock is 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.

Further Reading: How to Calculate Compound Annual Growth Rate (CAGR)

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

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