Analysts Estimate Report : What to Look Out for Progress Software (NASDAQ:PRGS)

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Earnings results for Progress Software (NASDAQ:PRGS)

Progress Software Corporation is expected* to report earnings on 09/29/2020 after market close. The report will be for the fiscal Quarter ending Aug 2020. According to Zacks Investment Research, based on 1 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.66. The reported EPS for the same quarter last year was $0.67.

Progress Software last issued its earnings data on June 25th, 2020. The software maker reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by $0.01. The firm had revenue of $102.51 million for the quarter, compared to analyst estimates of $99.17 million. Its quarterly revenue was down .9% on a year-over-year basis. Progress Software has generated $2.29 earnings per share over the last year and currently has a price-to-earnings ratio of 36.5. Progress Software has confirmed that its next quarterly earnings report will be published on Tuesday, September 29th, 2020.

Analyst Opinion on Progress Software (NASDAQ:PRGS)

3 Wall Street analysts have issued ratings and price targets for Progress Software in the last 12 months. Their average twelve-month price target is $47.00, predicting that the stock has a possible upside of 26.07%. The high price target for PRGS is $53.00 and the low price target for PRGS is $43.00. There are currently 3 buy ratings for the stock, resulting in a consensus rating of “Buy.”

Progress Software has received a consensus rating of Buy. The company’s average rating score is 3.00, and is based on 3 buy ratings, no hold ratings, and no sell ratings. According to analysts’ consensus price target of $47.00, Progress Software has a forecasted upside of 26.1% from its current price of $37.28. Progress Software has only been the subject of 1 research reports in the past 90 days.

Dividend Strength: Progress Software (NASDAQ:PRGS)

Progress Software pays a meaningful dividend of 1.85%, higher than the bottom 25% of all stocks that pay dividends. Progress Software has only been increasing its dividend for 3 years. The dividend payout ratio of Progress Software is 28.82%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Progress Software will have a dividend payout ratio of 21.71% next year. This indicates that Progress Software will be able to sustain or increase its dividend.

Insiders buying/selling: Progress Software (NASDAQ:PRGS)

In the past three months, Progress Software insiders have not sold or bought any company stock. Only 1.80% of the stock of Progress Software is held by insiders. 92.88% of the stock of Progress Software is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Progress Software (NASDAQ:PRGS

Earnings for Progress Software are expected to grow by 19.69% in the coming year, from $2.54 to $3.04 per share. The P/E ratio of Progress Software is 36.55, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 18.65. The P/E ratio of Progress Software is 36.55, which means that it is trading at a less expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 61.82. Progress Software has a P/B Ratio of 5.06. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

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