Q4 2016 EPS Estimates for InnerWorkings Inc. (INWK) Reduced by Analyst
InnerWorkings Inc. (NASDAQ:INWK) – Stock analysts at Craig Hallum dropped their Q4 2016 earnings per share estimates for shares of InnerWorkings in a research report issued on Wednesday. Craig Hallum analyst G. Sutton now forecasts that the brokerage will post earnings per share of $0.07 for the quarter, down from their prior forecast of $0.10. Craig Hallum also issued estimates for InnerWorkings’ Q2 2017 earnings at $0.11 EPS, Q3 2017 earnings at $0.13 EPS and Q4 2017 earnings at $0.13 EPS.
InnerWorkings (NASDAQ:INWK) last released its quarterly earnings results on Tuesday, November 8th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.02. InnerWorkings had a negative net margin of 3.67% and a positive return on equity of 7.37%. The business had revenue of $280 million for the quarter, compared to analysts’ expectations of $267.27 million. During the same period in the previous year, the company earned $0.11 earnings per share. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year.
Separately, Zacks Investment Research raised shares of InnerWorkings from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Wednesday, August 17th.
InnerWorkings (NASDAQ:INWK) opened at 8.91 on Thursday. InnerWorkings has a 12-month low of $6.06 and a 12-month high of $10.08. The stock’s market capitalization is $477.53 million. The company’s 50-day moving average is $8.90 and its 200 day moving average is $8.59.
In other InnerWorkings news, major shareholder Sagard Capital Partners, L.P. sold 21,454 shares of the company’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $8.91, for a total value of $191,155.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.40% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of INWK. Vanguard Group Inc. raised its position in shares of InnerWorkings by 7.0% in the second quarter. Vanguard Group Inc. now owns 2,788,530 shares of the company’s stock valued at $23,060,000 after buying an additional 182,161 shares during the period. Dimensional Fund Advisors LP raised its position in shares of InnerWorkings by 10.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,920,864 shares of the company’s stock valued at $15,885,000 after buying an additional 177,569 shares during the period. Boston Partners raised its position in shares of InnerWorkings by 76.4% in the third quarter. Boston Partners now owns 1,373,250 shares of the company’s stock valued at $12,936,000 after buying an additional 594,740 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of InnerWorkings by 9.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,270,956 shares of the company’s stock valued at $11,972,000 after buying an additional 114,051 shares during the period. Finally, BlackRock Fund Advisors raised its position in shares of InnerWorkings by 6.8% in the third quarter. BlackRock Fund Advisors now owns 1,069,511 shares of the company’s stock valued at $10,075,000 after buying an additional 67,729 shares during the period. Institutional investors and hedge funds own 78.18% 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 operates through three segments: North America, Latin America and EMEA.
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