Brokerages predict that InnerWorkings, Inc. (NASDAQ:INWK) will post sales of $283.97 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for InnerWorkings’ earnings, with the highest sales estimate coming in at $286.2 million and the lowest estimate coming in at $279.99 million. InnerWorkings reported sales of $269.22 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.5%. The company is expected to issue its next earnings results on Monday, August 21st.
On average, analysts expect that InnerWorkings will report full-year sales of $283.97 million for the current year, with estimates ranging from $1.16 billion to $1.17 billion. For the next financial year, analysts anticipate that the business will report sales of $1.26 billion per share, with estimates ranging from $1.25 billion to $1.26 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for InnerWorkings.
InnerWorkings (NASDAQ:INWK) last released its earnings results on Monday, May 8th. The business services provider reported $0.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.08. The business had revenue of $267.40 million for the quarter, compared to the consensus estimate of $277.43 million. InnerWorkings had a positive return on equity of 7.37% and a negative net margin of 3.67%. InnerWorkings’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 earnings per share.
Several brokerages recently weighed in on INWK. Zacks Investment Research cut shares of InnerWorkings from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 1st. Barrington Research increased their price objective on shares of InnerWorkings from $12.00 to $13.00 and gave the company an “outperform” rating in a research note on Wednesday. TheStreet lowered shares of InnerWorkings from a “b-” rating to a “c” rating in a research note on Thursday, February 2nd. Finally, Wunderlich started coverage on shares of InnerWorkings in a research note on Thursday, April 6th. They issued a “buy” rating and a $12.00 price objective for the company.
A number of large investors have recently bought and sold shares of the stock. Aperio Group LLC purchased a new stake in InnerWorkings during the third quarter valued at approximately $101,000. Sei Investments Co. raised its stake in InnerWorkings by 2.3% in the third quarter. Sei Investments Co. now owns 10,978 shares of the business services provider’s stock valued at $103,000 after buying an additional 248 shares during the period. Prudential Financial Inc. purchased a new stake in InnerWorkings during the first quarter valued at approximately $127,000. Round Table Services LLC raised its stake in InnerWorkings by 20.0% in the first quarter. Round Table Services LLC now owns 13,056 shares of the business services provider’s stock valued at $130,000 after buying an additional 2,180 shares during the period. Finally, Highbridge Capital Management LLC purchased a new stake in InnerWorkings during the fourth quarter valued at approximately $186,000. Hedge funds and other institutional investors own 78.70% of the company’s stock.
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InnerWorkings (NASDAQ:INWK) traded up 1.63% during mid-day trading on Thursday, hitting $11.86. The company had a trading volume of 496,314 shares. The firm has a market capitalization of $635.27 million, a PE ratio of 52.02 and a beta of 1.47. The company’s 50 day moving average price is $10.06 and its 200-day moving average price is $9.65. InnerWorkings has a 12-month low of $7.59 and a 12-month high of $11.89.
InnerWorkings, Inc is a marketing execution company. The Company’s software applications and databases create an integrated solution that stores, analyzes and tracks the production capabilities of its supplier network, as well as detailed pricing data. The Company’s segments include North America and International.
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