Brokers Set Expectations for Information Services Group, Inc.’s Q1 2024 Earnings (NASDAQ:III)

Information Services Group, Inc. (NASDAQ:III) – Investment analysts at Sidoti Csr cut their Q1 2024 earnings per share (EPS) estimates for Information Services Group in a report issued on Monday, May 6th. Sidoti Csr analyst M. Riddick now forecasts that the business services provider will post earnings per share of $0.03 for the quarter, down from their prior forecast of $0.04. The consensus estimate for Information Services Group’s current full-year earnings is $0.24 per share. Sidoti Csr also issued estimates for Information Services Group’s Q2 2024 earnings at $0.05 EPS, Q3 2024 earnings at $0.10 EPS, Q4 2024 earnings at $0.12 EPS and FY2024 earnings at $0.32 EPS.

Information Services Group (NASDAQ:III) last announced its quarterly earnings data on Thursday, March 7th. The business services provider reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.07). The firm had revenue of $66.19 million for the quarter, compared to analyst estimates of $69.16 million. Information Services Group had a return on equity of 12.89% and a net margin of 2.12%.

Several other analysts have also weighed in on III. StockNews.com lowered shares of Information Services Group from a “buy” rating to a “hold” rating in a research report on Friday, March 8th. Barrington Research reaffirmed an “outperform” rating and set a $6.00 price objective on shares of Information Services Group in a report on Wednesday, March 6th.

Information Services Group Stock Down 1.2 %

III opened at $3.33 on Thursday. The company has a market capitalization of $160.94 million, a P/E ratio of 27.75, a P/E/G ratio of 0.92 and a beta of 1.00. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.44 and a quick ratio of 2.44. The firm’s fifty day moving average price is $3.86 and its two-hundred day moving average price is $4.22. Information Services Group has a fifty-two week low of $3.32 and a fifty-two week high of $5.87.

Information Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 19th were issued a $0.045 dividend. This represents a $0.18 annualized dividend and a dividend yield of 5.41%. The ex-dividend date was Monday, March 18th. Information Services Group’s payout ratio is 150.00%.

Institutional Investors Weigh In On Information Services Group

A number of hedge funds have recently made changes to their positions in the company. Summit Global Investments grew its stake in Information Services Group by 21.1% during the fourth quarter. Summit Global Investments now owns 22,349 shares of the business services provider’s stock worth $105,000 after buying an additional 3,900 shares during the last quarter. Potomac Capital Management Inc. boosted its holdings in shares of Information Services Group by 4.7% in the 3rd quarter. Potomac Capital Management Inc. now owns 166,000 shares of the business services provider’s stock worth $727,000 after acquiring an additional 7,518 shares in the last quarter. Mackenzie Financial Corp grew its position in Information Services Group by 93.3% during the 3rd quarter. Mackenzie Financial Corp now owns 26,438 shares of the business services provider’s stock worth $114,000 after acquiring an additional 12,761 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Information Services Group during the 4th quarter valued at $72,000. Finally, O Shaughnessy Asset Management LLC raised its position in Information Services Group by 58.9% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 42,014 shares of the business services provider’s stock valued at $184,000 after purchasing an additional 15,566 shares during the last quarter. Institutional investors and hedge funds own 73.10% of the company’s stock.

About Information Services Group

Information Services Group, Inc, together with its subsidiaries, operates as a technology research and advisory company in the Americas, Europe, and the Asia Pacific. The company offers digital transformation services, including automation, cloud, and data analytics; sourcing advisory; managed governance and risk; network carrier; technology strategy and operations design; change management; and market intelligence and technology research and analysis services.