Progress Software Corp reports results for the quarter ended in February - Earnings Summary

Progress Software

26/03/2024 21:46

* Progress Software Corp  PRGS.OQ  reported quarterly
adjusted
earnings of $1.25​​ per share for the quarter ended in February,
higher than the same quarter last year, when the company
reported EPS of $1.19.  The mean expectation of six analysts for
the quarter was for earnings of $1.14 per share. Wall Street
expected results to range from $1.11  to $1.15 per share.
    * Revenue rose 11.5% to $184.69 million from a year ago;
analysts
expected $181.91 million. 
    * Progress Software Corp's reported EPS for the quarter was
51
cents​.
    * The company reported quarterly net income of $22.64
million.
    * Progress Software Corp shares had fallen by 2.8% this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 0.9%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the software peer
group
is also "buy"

Wall Street's median 12-month price target for Progress Software
Corp is $64.00 
This summary was machine generated from LSEG data March 26 at
09:46 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Feb. 29 2024      1.14           1.25           Beat
 Nov. 30 2023      0.91           1.02           Beat
 Aug. 31 2023      1.00           1.08           Beat
 May. 31 2023      0.90           1.06           Beat