Progress Software Corporation (NASDAQ:PRGS) is reporting second quarter earnings results on Thursday 25th June 2020, after market close.
The consensus estimates from Thomson Reuters are income of $ 0.62 per share from $ 98.33 million in revenue.
For the full year, analysts predict revenues of $ 430.62 million, while looking forward to income of $ 2.78 per share.
The Company Outlook
Earnings for 2Q20 are anticipated in a range of $ 0.60 ~ $ 0.64 per share, while revenues are expected in a range of $ 95.00 million ~ $ 101.00 million
Full Year 2020 topline are forecasted in a range of$ 428.00 million ~ $ 438.00 million, where as bottomline are predicted in a range of $ 2.73 ~ $ 2.80 per share
Historical Earnings Performance
The pervious quarter 1Q20 results surpassed street expectation, the report interpreted income of $ 0.76 per share from the top line of $ 109.68 million, analysts anticipated $ 0.70 per share
In the same quarter last year, the 2Q19 results outperformed analysts expectation, the report represented earnings of $ 0.65 per share from the revenues of $ 100.00 million, analysts expected $ 0.57 per share
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Stock Performance
According to the previous trading day, closing price of PRGS was $ 36.69, representing a 30.62 % increase from the 52 week low of $ 28.09 and a 30.11 % decrease over the 52 week high of $ 52.50.
The company has a market capital of $ 1.64 billion and is part of the Technology sector and Software – Application industry.
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Recent Stock Dividend Announcement
On March 18, 2020, the board of directors authorized quarterly dividend of $ 0.165 per share to holders of record as of the close of business on June 1, 2020, with payment date of June 15, 2020 and ex-dividend date on May 29, 2020.
Conference Call
Progress Software Corporation will be hosting a conference call at 5:00 PM eastern time on 25th June 2020, to discuss its 2Q20 financial results with the investment community. The participants may dial, 800-458-4121 Toll Free, when prompted, enter passcode 5687996 in order to access the live audio call. A live webcast with presentations will be available on the Internet by visiting the Company website investors.progress.com/events-and-presentations
Progress Software Corporation develops business applications worldwide. The company operates in three segments: OpenEdge, Data Connectivity and Integration, and Application Development and Deployment. The OpenEdge segment offers Progress OpenEdge, a development software, which builds multi-language applications for secure deployment across various platforms and devices, as well as cloud; Progress Corticon, a business rules management system that enables applications with decision automation and change process, and decision-related insight capabilities; Progress Kinvey, a platform for building enterprise applications; NativeScript, an open-source application development platform; and DataRPM, a cognitive predictive maintenance solution for industrial IoT.
