InnerWorkings (NASDAQ:INWK) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

InnerWorkings (NASDAQ:INWK) issued its earnings results on Thursday. The business services provider reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.01, Morningstar.com reports. The business had revenue of $284.05 million for the quarter, compared to analysts’ expectations of $286.25 million. InnerWorkings had a positive return on equity of 0.15% and a negative net margin of 6.97%. InnerWorkings updated its FY 2019 guidance to $0.20-0.24 EPS.

Shares of InnerWorkings stock traded up $1.66 on Friday, hitting $4.50. 2,918,424 shares of the company were exchanged, compared to its average volume of 106,754. The stock has a market cap of $147.28 million, a PE ratio of 284.00 and a beta of 1.43. The stock’s 50-day moving average is $3.69. InnerWorkings has a 1-year low of $2.58 and a 1-year high of $8.12.

Several brokerages have recently weighed in on INWK. Zacks Investment Research cut InnerWorkings from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. ValuEngine upgraded InnerWorkings from a “hold” rating to a “buy” rating in a report on Saturday. Craig Hallum upgraded InnerWorkings from a “hold” rating to a “buy” rating and set a $6.00 target price on the stock in a report on Friday. Finally, Barrington Research upgraded InnerWorkings from a “market perform” rating to an “outperform” rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. InnerWorkings has an average rating of “Buy” and a consensus target price of $5.00.

Several institutional investors have recently modified their holdings of the company. Northern Trust Corp lifted its holdings in InnerWorkings by 0.6% in the fourth quarter. Northern Trust Corp now owns 542,018 shares of the business services provider’s stock valued at $2,027,000 after acquiring an additional 2,972 shares during the last quarter. Millennium Management LLC lifted its holdings in InnerWorkings by 37.5% in the fourth quarter. Millennium Management LLC now owns 97,341 shares of the business services provider’s stock valued at $364,000 after acquiring an additional 26,549 shares during the last quarter. Jane Street Group LLC acquired a new position in InnerWorkings in the fourth quarter valued at approximately $49,000. BlackRock Inc. lifted its holdings in InnerWorkings by 2.2% in the fourth quarter. BlackRock Inc. now owns 3,084,027 shares of the business services provider’s stock valued at $11,534,000 after acquiring an additional 67,468 shares during the last quarter. Finally, Pacific Ridge Capital Partners LLC lifted its holdings in InnerWorkings by 17.2% in the first quarter. Pacific Ridge Capital Partners LLC now owns 662,879 shares of the business services provider’s stock valued at $2,400,000 after acquiring an additional 97,348 shares during the last quarter. Institutional investors and hedge funds own 83.28% of the company’s stock.

InnerWorkings Company Profile

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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Earnings History for InnerWorkings (NASDAQ:INWK)

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