Resources Connection, Inc. (RECN) Earns Sell Rating from Deutsche Bank AG

Deutsche Bank AG reiterated their sell rating on shares of Resources Connection, Inc. (NASDAQ:RECN) in a research report report published on Friday morning. Deutsche Bank AG currently has a $13.00 price target on the business services provider’s stock, up from their prior price target of $12.00.

Several other equities research analysts also recently issued reports on RECN. BidaskClub downgraded shares of Resources Connection from a hold rating to a sell rating in a research note on Monday, July 31st. Zacks Investment Research downgraded shares of Resources Connection from a hold rating to a sell rating in a research note on Tuesday, July 25th. Finally, Robert W. Baird reiterated a hold rating and issued a $15.00 target price on shares of Resources Connection in a research note on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the stock. Resources Connection presently has a consensus rating of Hold and a consensus target price of $15.00.

Resources Connection (RECN) opened at 14.85 on Friday. Resources Connection has a 1-year low of $12.05 and a 1-year high of $19.80. The company has a market capitalization of $443.52 million, a price-to-earnings ratio of 26.52 and a beta of 1.18. The stock has a 50 day moving average price of $12.86 and a 200-day moving average price of $13.56.

Resources Connection (NASDAQ:RECN) last issued its earnings results on Wednesday, October 4th. The business services provider reported $0.12 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.12. Resources Connection had a net margin of 2.60% and a return on equity of 8.08%. The business had revenue of $141.20 million during the quarter, compared to the consensus estimate of $140.29 million. During the same period last year, the business posted $0.15 EPS. Resources Connection’s revenue was down 1.5% on a year-over-year basis. Equities analysts predict that Resources Connection will post $0.69 earnings per share for the current year.

WARNING: “Resources Connection, Inc. (RECN) Earns Sell Rating from Deutsche Bank AG” was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this report on another publication, it was illegally copied and republished in violation of United States and international copyright and trademark law. The legal version of this report can be viewed at https://ledgergazette.com/2017/10/09/resources-connection-inc-recn-earns-sell-rating-from-deutsche-bank-ag.html.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 21st. Investors of record on Thursday, August 24th were paid a $0.12 dividend. This is an increase from Resources Connection’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend was Tuesday, August 22nd. Resources Connection’s dividend payout ratio (DPR) is 102.13%.

A number of large investors have recently modified their holdings of RECN. Russell Investments Group Ltd. acquired a new stake in Resources Connection in the 1st quarter valued at about $116,000. Great West Life Assurance Co. Can lifted its stake in Resources Connection by 14.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 42,635 shares of the business services provider’s stock valued at $714,000 after purchasing an additional 5,466 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Resources Connection by 12.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 37,044 shares of the business services provider’s stock valued at $620,000 after purchasing an additional 3,990 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Resources Connection by 3.4% in the 1st quarter. Bank of New York Mellon Corp now owns 562,579 shares of the business services provider’s stock valued at $9,424,000 after purchasing an additional 18,428 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in Resources Connection by 1.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 8,542 shares of the business services provider’s stock valued at $143,000 after purchasing an additional 104 shares during the last quarter. Institutional investors and hedge funds own 82.11% of the co

Several other equities research analysts also recently issued reports on RECN. BidaskClub downgraded shares of Resources Connection from a hold rating to a sell rating in a research note on Monday, July 31st. Zacks Investment Research downgraded shares of Resources Connection from a hold rating to a sell rating in a research note on Tuesday, July 25th. Finally, Robert W. Baird reiterated a hold rating and issued a $15.00 target price on shares of Resources Connection in a research note on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the stock. Resources Connection presently has a consensus rating of Hold and a consensus target price of $15.00.

Resources Connection (RECN) opened at 14.85 on Friday. Resources Connection has a 1-year low of $12.05 and a 1-year high of $19.80. The company has a market capitalization of $443.52 million, a price-to-earnings ratio of 26.52 and a beta of 1.18. The stock has a 50 day moving average price of $12.86 and a 200-day moving average price of $13.56.

Resources Connection (NASDAQ:RECN) last issued its earnings results on Wednesday, October 4th. The business services provider reported $0.12 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.12. Resources Connection had a net margin of 2.60% and a return on equity of 8.08%. The business had revenue of $141.20 million during the quarter, compared to the consensus estimate of $140.29 million. During the same period last year, the business posted $0.15 EPS. Resources Connection’s revenue was down 1.5% on a year-over-year basis. Equities analysts predict that Resources Connection will post $0.69 earnings per share for the current year.

WARNING: “Resources Connection, Inc. (RECN) Earns Sell Rating from Deutsche Bank AG” was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this report on another publication, it was illegally copied and republished in violation of United States and international copyright and trademark law. The legal version of this report can be viewed at https://ledgergazette.com/2017/10/09/resources-connection-inc-recn-earns-sell-rating-from-deutsche-bank-ag.html.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 21st. Investors of record on Thursday, August 24th were paid a $0.12 dividend. This is an increase from Resources Connection’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend was Tuesday, August 22nd. Resources Connection’s dividend payout ratio (DPR) is 102.13%.

A number of large investors have recently modified their holdings of RECN. Russell Investments Group Ltd. acquired a new stake in Resources Connection in the 1st quarter valued at about $116,000. Great West Life Assurance Co. Can lifted its stake in Resources Connection by 14.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 42,635 shares of the business services provider’s stock valued at $714,000 after purchasing an additional 5,466 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Resources Connection by 12.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 37,044 shares of the business services provider’s stock valued at $620,000 after purchasing an additional 3,990 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Resources Connection by 3.4% in the 1st quarter. Bank of New York Mellon Corp now owns 562,579 shares of the business services provider’s stock valued at $9,424,000 after purchasing an additional 18,428 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in Resources Connection by 1.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 8,542 shares of the business services provider’s stock valued at $143,000 after purchasing an additional 104 shares during the last quarter. Institutional investors and hedge funds own 82.11% of the company’s stock.

Resources Connection Company Profile

Resources Connection, Inc is a multinational consulting firm. The Company’s operating entities primarily provide services under the name Resources Global Professionals (RGP). The Company provides consulting and business initiative support services to its global client base in the areas of accounting; finance; corporate governance, risk and compliance (GRC) management; corporate advisory, strategic communications and restructuring; information management; human capital; supply chain management, and legal and regulatory.

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