Why Progress Software (PRGS) is Poised to Beat Earnings Estimates Again

Core Viewpoint - Progress Software (PRGS) is positioned well to continue its trend of beating earnings estimates in upcoming quarterly reports [1]. Group 1: Earnings Performance - Progress Software has a strong history of beating earnings estimates, with an average surprise of 17.94% over the last two quarters [2]. - In the most recent quarter, the company reported earnings of $1.31 per share, exceeding the expected$1.04 per share, resulting in a surprise of 25.96% [2]. - For the previous quarter, the consensus estimate was $1.21 per share, while the actual earnings were$1.33 per share, leading to a surprise of 9.92% [2]. Group 2: Earnings Estimates and Predictions - Estimates for Progress Software have been trending higher, influenced by its history of earnings surprises [5]. - The company currently has a positive Zacks Earnings ESP of +0.46%, indicating increased analyst optimism regarding its near-term earnings potential [8]. - The combination of a positive Earnings ESP and a Zacks Rank of 3 (Hold) suggests a strong possibility of another earnings beat [8]. Group 3: Importance of Earnings ESP - Stocks with a positive Earnings ESP and a Zacks Rank of 3 or better have a nearly 70% chance of producing a positive surprise [6]. - The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate, reflecting the latest analyst revisions [7]. - It is crucial for investors to check a company's Earnings ESP before quarterly releases to enhance the likelihood of successful investment decisions [10].