Progress Software Corp reports results for the quarter ended in January - Earnings Summary
25/06/2024 22:52
* Progress Software Corp PRGS.OQ reported quarterly
adjusted
earnings of $1.09 per share for the quarter ended in January,
higher than the same quarter last year, when the company
reported EPS of $1.06. The mean expectation of seven analysts
for the quarter was for earnings of 95 cents per share. Wall
Street expected results to range from 95 cents to 96 cents per
share.
* Revenue fell 2.3% to $175.08 million from a year ago;
analysts
expected $168.42 million.
* Progress Software Corp's reported EPS for the quarter was
37
cents.
* The company reported quarterly net income of $16.19
million.
* Progress Software Corp shares had fallen by 8.1% this
quarter and lost 9.8% so far this year.
FORECAST CHANGES
* The mean earnings estimate of analysts had fallen by
about 10%
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 5 "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 $64.50
This summary was machine generated from LSEG data June 25 at
09:52 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
May. 31 2024 0.95 1.09 Beat
Feb. 29 2024 1.14 1.25 Beat
Nov. 30 2023 0.91 1.02 Beat
Aug. 31 2023 1.00 1.08 Beat