FY2016 EPS Estimates for InnerWorkings Inc. (INWK) Lowered by Analyst
InnerWorkings Inc. (NASDAQ:INWK) – Research analysts at Craig Hallum cut their FY2016 EPS estimates for InnerWorkings in a note issued to investors on Wednesday. Craig Hallum analyst G. Sutton now forecasts that the brokerage will post earnings of $0.33 per share for the year, down from their prior forecast of $0.35. Craig Hallum also issued estimates for InnerWorkings’ Q1 2017 earnings at $0.10 EPS.
Separately, Zacks Investment Research upgraded InnerWorkings from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Wednesday, August 17th.
InnerWorkings (NASDAQ:INWK) opened at 9.27 on Friday. The firm’s 50-day moving average is $8.91 and its 200 day moving average is $8.60. The firm’s market cap is $496.83 million. InnerWorkings has a 1-year low of $6.06 and a 1-year high of $10.08.
InnerWorkings (NASDAQ:INWK) last released its earnings results on Tuesday, November 8th. The company reported $0.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.02. The firm had revenue of $280 million for the quarter, compared to analysts’ expectations of $267.27 million. InnerWorkings had a negative net margin of 3.67% and a positive return on equity of 7.37%. InnerWorkings’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the company earned $0.11 EPS.
In other InnerWorkings news, major shareholder Sagard Capital Partners, L.P. sold 44,354 shares of the stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $9.15, for a total transaction of $405,839.10. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 18.40% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in INWK. Sei Investments Co. increased its position in InnerWorkings by 2.3% in the third quarter. Sei Investments Co. now owns 10,978 shares of the company’s stock worth $103,000 after buying an additional 248 shares during the period. Rhumbline Advisers increased its position in InnerWorkings by 0.8% in the third quarter. Rhumbline Advisers now owns 45,581 shares of the company’s stock worth $429,000 after buying an additional 340 shares during the period. State Board of Administration of Florida Retirement System increased its position in InnerWorkings by 0.8% in the second quarter. State Board of Administration of Florida Retirement System now owns 43,157 shares of the company’s stock worth $357,000 after buying an additional 348 shares during the period. BlackRock Inc. increased its position in InnerWorkings by 2.0% in the third quarter. BlackRock Inc. now owns 19,134 shares of the company’s stock worth $180,000 after buying an additional 373 shares during the period. Finally, American International Group Inc. increased its position in InnerWorkings by 1.7% in the second quarter. American International Group Inc. now owns 22,123 shares of the company’s stock worth $183,000 after buying an additional 380 shares during the period. Hedge funds and other institutional investors own 78.18% of the company’s stock.
InnerWorkings Company Profile
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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