Progress Software (NASDAQ:PRGS) updated its FY18 earnings guidance on Wednesday. The company provided EPS guidance of $2.29-2.35 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.91. The company issued revenue guidance of $399-404 million, compared to the consensus revenue estimate of $400.69 million.Progress Software also updated its Q1 guidance to $0.46-0.48 EPS.
A number of research analysts have recently weighed in on the company. Zacks Investment Research raised Progress Software from a hold rating to a strong-buy rating and set a $60.00 price target on the stock in a research note on Thursday, January 18th. Benchmark reissued a buy rating and issued a $47.00 price target (up previously from $42.00) on shares of Progress Software in a research note on Tuesday, January 2nd. Finally, ValuEngine downgraded Progress Software from a buy rating to a hold rating in a research note on Friday, December 1st. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and an average target price of $46.33.
Shares of Progress Software (PRGS) opened at $49.66 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.27 and a quick ratio of 1.27. Progress Software has a 1 year low of $27.44 and a 1 year high of $53.60. The company has a market cap of $2,340.68, a price-to-earnings ratio of 64.49 and a beta of 0.65.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Wednesday, February 28th. Progress Software’s dividend payout ratio is currently 72.73%.
About Progress Software
Progress Software Corporation is engaged in application development. The Company operates through three segments: OpenEdge, Data Connectivity and Integration (DCI), and Application Development and Deployment (AppDev). The OpenEdge business segment provides the product enhancements and marketing support to its partner base.
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