Progress Software Corporation (NASDAQ:PRGS) is scheduled to issue its quarterly earnings data after the market closes on Wednesday, September 27th. Analysts expect the company to announce earnings of $0.43 per share for the quarter. Progress Software Corporation has set its Q3 guidance at $0.41-$0.43 EPS and its FY17 guidance at $1.73-$1.78 EPS.
Progress Software Corporation (NASDAQ:PRGS) last issued its quarterly earnings results on Wednesday, June 28th. The software maker reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.05. The firm had revenue of $93.20 million for the quarter, compared to the consensus estimate of $91.53 million. Progress Software Corporation had a negative net margin of 13.96% and a positive return on equity of 18.10%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.33 EPS. On average, analysts expect Progress Software Corporation to post $1.78 EPS for the current fiscal year and $1.83 EPS for the next fiscal year.
Progress Software Corporation (PRGS) opened at 37.71 on Wednesday. The stock has a 50 day moving average of $33.44 and a 200-day moving average of $30.75. The firm’s market cap is $1.82 billion. Progress Software Corporation has a 12 month low of $25.55 and a 12 month high of $38.51.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a $0.14 dividend. This is a boost from Progress Software Corporation’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.56 annualized dividend and a dividend yield of 1.49%. Progress Software Corporation’s dividend payout ratio (DPR) is currently -42.74%.
Several research analysts have recently issued reports on the stock. Wedbush restated a “neutral” rating and issued a $32.00 target price on shares of Progress Software Corporation in a report on Monday. Zacks Investment Research cut shares of Progress Software Corporation from a “buy” rating to a “hold” rating in a report on Saturday. Benchmark Co. restated a “buy” rating and issued a $42.00 target price (up previously from $34.00) on shares of Progress Software Corporation in a report on Wednesday, September 13th. BidaskClub upgraded shares of Progress Software Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 24th. Finally, TheStreet upgraded shares of Progress Software Corporation from a “c+” rating to a “b” rating in a report on Wednesday, June 28th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $37.25.
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Progress Software Corporation Company Profile
Progress Software Corporation is engaged in application development. The Company operates through three segments: OpenEdge, Data Connectivity and Integration (DCI), and Application Development and Deployment (AppDev). The OpenEdge business segment provides the product enhancements and marketing support to its partner base.
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