Wall Street analysts predict that Resources Connection, Inc. (NASDAQ:RECN) will announce earnings of $0.20 per share for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Resources Connection’s earnings, with the lowest EPS estimate coming in at $0.18 and the highest estimate coming in at $0.21. Resources Connection reported earnings of $0.18 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 11.1%. The business is expected to issue its next earnings report on Wednesday, January 3rd.
According to Zacks, analysts expect that Resources Connection will report full year earnings of $0.67 per share for the current fiscal year, with EPS estimates ranging from $0.63 to $0.70. For the next fiscal year, analysts anticipate that the business will report earnings of $0.83 per share, with EPS estimates ranging from $0.80 to $0.88. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that cover Resources Connection.
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 analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $140.29 million. During the same quarter in the prior year, the business posted $0.15 EPS. The company’s revenue for the quarter was down 1.5% on a year-over-year basis.
Several research firms recently commented on RECN. BidaskClub lowered shares of Resources Connection from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Robert W. Baird reiterated a “hold” rating and issued a $15.00 price objective on shares of Resources Connection in a research note on Friday, November 10th. Zacks Investment Research lowered shares of Resources Connection from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Finally, Deutsche Bank restated a “sell” rating and set a $13.00 price target (up previously from $12.00) on shares of Resources Connection in a research note on Friday, October 6th. Two analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Resources Connection has an average rating of “Hold” and an average target price of $15.00.
A number of large investors have recently bought and sold shares of RECN. SG Americas Securities LLC acquired a new position in Resources Connection in the 3rd quarter valued at $153,000. Municipal Employees Retirement System of Michigan grew its stake in Resources Connection by 58.8% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 11,130 shares of the business services provider’s stock valued at $155,000 after buying an additional 4,120 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in Resources Connection in the 3rd quarter valued at $164,000. BNP Paribas Arbitrage SA grew its stake in Resources Connection by 44.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 12,303 shares of the business services provider’s stock valued at $169,000 after buying an additional 3,761 shares during the last quarter. Finally, Aperio Group LLC acquired a new position in Resources Connection in the 2nd quarter valued at $171,000. Institutional investors and hedge funds own 80.99% of the company’s stock.
Resources Connection (NASDAQ:RECN) traded down $0.05 during trading on Wednesday, hitting $15.50. 55,382 shares of the stock traded hands, compared to its average volume of 84,329. The company has a quick ratio of 2.82, a current ratio of 2.82 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $468.49, a PE ratio of 26.36 and a beta of 1.18. Resources Connection has a twelve month low of $12.05 and a twelve month high of $19.80.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 16th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, November 15th. This represents a $0.48 dividend on an annualized basis and a yield of 3.10%. Resources Connection’s payout ratio is presently 102.13%.
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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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