Brokers Issue Forecasts for PRGX Global Inc’s Q3 2019 Revenue (PRGX)

Brokers Issue Forecasts for PRGX Global Inc’s Q3 2019 Revenue (PRGX)

PRGX Global Inc (NASDAQ:PRGX) – Investment analysts at Barrington Research boosted their Q3 2019 earnings estimates for shares of PRGX Global in a research note issued to investors on Wednesday, May 1st. Barrington Research analyst A. Paris. Jr now anticipates that the business services provider will post earnings per share of $0.13 for the quarter, up from their previous forecast of $0.12. Barrington Research currently has a “Buy” rating and a $13.00 price target on the stock. Barrington Research also issued estimates for PRGX Global’s Q4 2019 earnings at $0.36 EPS and FY2020 earnings at $0.43 EPS.

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

Several other analysts also recently issued reports on the company. B. Riley set a $12.00 price target on PRGX Global and gave the company a “buy” rating in a research note on Friday, March 8th. ValuEngine cut PRGX Global from a “strong-buy” rating to a “buy” rating in a report on Monday, February 4th. Zacks Investment Research cut PRGX Global from a “buy” rating to a “hold” rating in a report on Saturday, March 9th. Finally, TheStreet cut PRGX Global from a “b” rating to a “c” rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. PRGX Global presently has an average rating of “Buy” and a consensus target price of $12.00.

Shares of PRGX traded down $0.26 during midday trading on Friday, hitting $7.70. The stock had a trading volume of 30,302 shares, compared to its average volume of 28,048. PRGX Global has a twelve month low of $7.17 and a twelve month high of $10.20. The company has a market capitalization of $180.47 million, a price-to-earnings ratio of 55.00, a P/E/G ratio of 2.10 and a beta of 0.50. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.81 and a quick ratio of 1.81.

In other news, Director Matthew A. Drapkin acquired 21,300 shares of PRGX Global stock in a transaction dated Wednesday, March 13th. The stock was bought at an average price of $8.44 per share, for a total transaction of $179,772.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 17.10% of the company’s stock.

Several large investors have recently modified their holdings of PRGX. Thomson Horstmann & Bryant Inc. boosted its holdings in shares of PRGX Global by 10.6% during the fourth quarter. Thomson Horstmann & Bryant Inc. now owns 1,091,799 shares of the business services provider’s stock worth $10,339,000 after acquiring an additional 104,402 shares during the period. Vanguard Group Inc boosted its holdings in shares of PRGX Global by 3.9% during the third quarter. Vanguard Group Inc now owns 1,140,649 shares of the business services provider’s stock worth $9,923,000 after acquiring an additional 42,627 shares during the period. Vanguard Group Inc. boosted its holdings in shares of PRGX Global by 3.9% during the third quarter. Vanguard Group Inc. now owns 1,140,649 shares of the business services provider’s stock worth $9,923,000 after acquiring an additional 42,627 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of PRGX Global by 5.5% during the third quarter. Dimensional Fund Advisors LP now owns 801,603 shares of the business services provider’s stock worth $6,974,000 after acquiring an additional 41,740 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in shares of 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 acquiring an additional 20,582 shares during the period. Institutional investors own 78.38% 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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