Equities research analysts expect InnerWorkings, Inc. (NASDAQ:INWK) to announce $286.25 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for InnerWorkings’ earnings, with estimates ranging from $282.49 million to $290.00 million. InnerWorkings reported sales of $281.97 million in the same quarter last year, which would suggest a positive year over year growth rate of 1.5%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, August 13th.
According to Zacks, analysts expect that InnerWorkings will report full-year sales of $1.16 billion for the current financial year, with estimates ranging from $1.15 billion to $1.16 billion. For the next fiscal year, analysts forecast that the business will post sales of $1.20 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow InnerWorkings.
InnerWorkings (NASDAQ:INWK) last issued its quarterly earnings results on Thursday, May 9th. The business services provider reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.03. The company had revenue of $267.24 million during the quarter, compared to analysts’ expectations of $271.13 million. InnerWorkings had a negative net margin of 6.91% and a negative return on equity of 1.08%.
Several research firms have weighed in on INWK. ValuEngine upgraded InnerWorkings from a “sell” rating to a “hold” rating in a report on Thursday, June 13th. Barrington Research restated a “hold” rating on shares of InnerWorkings in a research note on Wednesday. Finally, Zacks Investment Research cut InnerWorkings from a “hold” rating to a “sell” rating in a research note on Tuesday, March 12th. Five research analysts have rated the stock with a hold rating, InnerWorkings has an average rating of “Hold” and a consensus target price of $10.00.
INWK traded down $0.14 on Wednesday, hitting $3.82. 387,555 shares of the company were exchanged, compared to its average volume of 151,479. InnerWorkings has a 12 month low of $3.12 and a 12 month high of $9.03. The stock’s fifty day moving average price is $3.75. The company has a market capitalization of $198.11 million, a PE ratio of -47.75 and a beta of 1.41.
Institutional investors and hedge funds have recently modified their holdings of the stock. Macquarie Group Ltd. lifted its position in InnerWorkings by 38.9% during the fourth quarter. Macquarie Group Ltd. now owns 7,140 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 2,000 shares in the last quarter. Bank of Montreal Can lifted its position in InnerWorkings by 2,918.9% during the fourth quarter. Bank of Montreal Can now owns 8,936 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 8,640 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in InnerWorkings by 126.7% during the first quarter. BNP Paribas Arbitrage SA now owns 9,320 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 5,209 shares in the last quarter. Menta Capital LLC purchased a new position in InnerWorkings during the first quarter valued at $43,000. Finally, Mackay Shields LLC purchased a new position in InnerWorkings during the fourth quarter valued at $48,000. 83.57% of the stock is owned by institutional investors.
InnerWorkings, Inc provides marketing execution solutions in North America and internationally. 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.
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