$283.80 Million in Sales Expected for InnerWorkings, Inc. (INWK) This Quarter
Brokerages predict that InnerWorkings, Inc. (NASDAQ:INWK) will announce $283.80 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for InnerWorkings’ earnings, with the lowest sales estimate coming in at $279.99 million and the highest estimate coming in at $286.23 million. InnerWorkings posted sales of $269.22 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.4%. The firm is scheduled to announce its next earnings results after the market closes on Monday, August 7th.
On average, analysts expect that InnerWorkings will report full-year sales of $283.80 million for the current fiscal year, with estimates ranging from $1.16 billion to $1.17 billion. For the next year, analysts anticipate that the firm will post 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 sell-side analysts that follow InnerWorkings.
InnerWorkings (NASDAQ:INWK) last announced its quarterly earnings data on Monday, May 8th. The business services provider reported $0.08 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.08. The company had revenue of $267.40 million during the quarter, compared to analyst estimates of $277.43 million. InnerWorkings had a net margin of 2.04% and a return on equity of 8.19%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period last year, the business earned $0.06 EPS.
INWK has been the subject of several research analyst reports. Zacks Investment Research cut shares of InnerWorkings from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. BidaskClub cut shares of InnerWorkings from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Barrington Research upped their target price on shares of InnerWorkings from $12.00 to $13.00 and gave the company an “outperform” rating in a research note on Wednesday, May 10th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $13.33.
Shares of InnerWorkings (NASDAQ:INWK) traded down 0.35% on Tuesday, reaching $11.44. 167,057 shares of the company’s stock traded hands. The company’s 50-day moving average is $11.42 and its 200-day moving average is $10.46. InnerWorkings has a 52 week low of $8.07 and a 52 week high of $11.94. The firm has a market capitalization of $607.68 million, a P/E ratio of 50.18 and a beta of 1.59.
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Several institutional investors have recently made changes to their positions in INWK. TFS Capital LLC acquired a new position in shares of InnerWorkings during the first quarter worth about $360,000. Highbridge Capital Management LLC acquired a new position in shares of InnerWorkings during the fourth quarter worth about $186,000. FMR LLC boosted its position in shares of InnerWorkings by 9.0% in the fourth quarter. FMR LLC now owns 957,231 shares of the business services provider’s stock worth $9,428,000 after buying an additional 78,900 shares in the last quarter. Guggenheim Capital LLC acquired a new position in shares of InnerWorkings during the fourth quarter worth about $348,000. Finally, Norges Bank acquired a new position in shares of InnerWorkings during the fourth quarter worth about $700,000. Institutional investors own 80.63% of the company’s stock.
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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