InnerWorkings (INWK) Issues Quarterly Earnings Results, Misses Expectations By $0.08 EPS

InnerWorkings (NASDAQ:INWK) posted its earnings results on Thursday. The business services provider reported $0.04 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.08), Morningstar.com reports. InnerWorkings had a return on equity of 3.93% and a net margin of 0.61%. The business had revenue of $270.85 million for the quarter, compared to analyst estimates of $294.87 million. InnerWorkings updated its FY 2018 guidance to $0.17-0.20 EPS.

Shares of NASDAQ INWK traded down $2.80 during midday trading on Friday, reaching $4.24. The stock had a trading volume of 989,159 shares, compared to its average volume of 163,720. The company has a market capitalization of $370.42 million, a P/E ratio of 10.34, a price-to-earnings-growth ratio of 1.72 and a beta of 1.53. InnerWorkings has a twelve month low of $3.93 and a twelve month high of $11.04. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.92 and a current ratio of 1.04.

In other news, CEO Richard S. Stoddart purchased 6,847 shares of the company’s stock in a transaction dated Tuesday, August 21st. The shares were purchased at an average price of $7.67 per share, for a total transaction of $52,516.49. Following the transaction, the chief executive officer now owns 85,878 shares of the company’s stock, valued at $658,684.26. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 6.40% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Trexquant Investment LP acquired a new position in shares of InnerWorkings during the 3rd quarter valued at $113,000. JPMorgan Chase & Co. lifted its position in shares of InnerWorkings by 36.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 34,457 shares of the business services provider’s stock valued at $273,000 after acquiring an additional 9,125 shares during the period. Brown Advisory Inc. lifted its position in shares of InnerWorkings by 67.3% during the 1st quarter. Brown Advisory Inc. now owns 43,563 shares of the business services provider’s stock valued at $394,000 after acquiring an additional 17,529 shares during the period. Alliancebernstein L.P. lifted its position in shares of InnerWorkings by 72.5% during the 3rd quarter. Alliancebernstein L.P. now owns 48,830 shares of the business services provider’s stock valued at $387,000 after acquiring an additional 20,530 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in shares of InnerWorkings by 27.0% during the 1st quarter. Russell Investments Group Ltd. now owns 57,845 shares of the business services provider’s stock valued at $524,000 after acquiring an additional 12,305 shares during the period. Institutional investors own 82.54% of the company’s stock.

Several research firms recently commented on INWK. Craig Hallum downgraded shares of InnerWorkings from a “buy” rating to a “hold” rating and set a $10.00 target price on the stock. in a research report on Wednesday, August 1st. Zacks Investment Research downgraded shares of InnerWorkings from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 17th. BidaskClub downgraded shares of InnerWorkings from a “sell” rating to a “strong sell” rating in a research report on Thursday. ValuEngine upgraded shares of InnerWorkings from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 1st. Finally, Barrington Research restated a “hold” rating on shares of InnerWorkings in a research report on Wednesday, August 22nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. InnerWorkings has a consensus rating of “Hold” and a consensus target price of $11.33.

COPYRIGHT VIOLATION WARNING: “InnerWorkings (INWK) Issues Quarterly Earnings Results, Misses Expectations By $0.08 EPS” was first published by WKRB News and is the sole property of of WKRB News. If you are accessing this piece on another website, it was illegally copied and reposted in violation of US and international trademark and copyright laws. The original version of this piece can be read at https://www.wkrb13.com/2018/11/11/innerworkings-inwk-issues-quarterly-earnings-results-misses-expectations-by-0-08-eps.html.

About InnerWorkings

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.

Further Reading: Rule of 72

Earnings History for InnerWorkings (NASDAQ:INWK)

Receive News & Ratings for InnerWorkings Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for InnerWorkings and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply