Equities analysts expect Resources Connection, Inc. (NASDAQ:RECN) to post $163.47 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Resources Connection’s earnings, with the lowest sales estimate coming in at $149.82 million and the highest estimate coming in at $170.60 million. Resources Connection posted sales of $143.84 million during the same quarter last year, which suggests a positive year over year growth rate of 13.6%. The firm is scheduled to announce its next earnings report on Wednesday, April 4th.
On average, analysts expect that Resources Connection will report full year sales of $163.47 million for the current year, with estimates ranging from $599.35 million to $644.98 million. For the next fiscal year, analysts forecast that the firm will report sales of $675.17 million per share, with estimates ranging from $623.58 million to $704.98 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that follow Resources Connection.
Resources Connection (NASDAQ:RECN) last released its earnings results on Wednesday, January 3rd. The business services provider reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.05. The firm had revenue of $156.70 million during the quarter, compared to analyst estimates of $152.91 million. Resources Connection had a return on equity of 8.25% and a net margin of 2.98%. Resources Connection’s revenue was up 6.2% compared to the same quarter last year. During the same period last year, the business posted $0.26 earnings per share.
A number of research analysts recently issued reports on RECN shares. BidaskClub lowered Resources Connection from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Zacks Investment Research upgraded Resources Connection from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a report on Wednesday, February 7th. Robert W. Baird reiterated a “hold” rating and issued a $15.00 target price on shares of Resources Connection in a report on Friday, November 10th. JPMorgan Chase & Co. lowered Resources Connection from a “neutral” rating to an “underweight” rating and set a $16.00 target price for the company. in a report on Thursday, January 4th. Finally, TheStreet upgraded Resources Connection from a “c+” rating to a “b” rating in a report on Thursday, January 4th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Resources Connection currently has an average rating of “Hold” and a consensus target price of $15.25.
Resources Connection (NASDAQ:RECN) traded up $0.20 during trading hours on Wednesday, reaching $15.60. The company had a trading volume of 82,700 shares, compared to its average volume of 142,791. The stock has a market capitalization of $489.44, a price-to-earnings ratio of 26.90 and a beta of 1.21. Resources Connection has a 52-week low of $12.05 and a 52-week high of $17.40. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.36 and a current ratio of 2.36.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, February 15th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend is Wednesday, February 14th. Resources Connection’s dividend payout ratio (DPR) is 82.76%.
A number of hedge funds and other institutional investors have recently made changes to their positions in RECN. SG Americas Securities LLC purchased a new stake in Resources Connection during the 3rd quarter worth about $153,000. Municipal Employees Retirement System of Michigan lifted its holdings in Resources Connection by 58.8% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 11,130 shares of the business services provider’s stock worth $155,000 after buying an additional 4,120 shares during the last quarter. Aperio Group LLC purchased a new stake in Resources Connection during the 4th quarter worth about $157,000. Russell Investments Group Ltd. purchased a new stake in Resources Connection during the 3rd quarter worth about $164,000. Finally, Jane Street Group LLC purchased a new stake in Resources Connection during the 3rd quarter worth about $171,000. 78.68% of the stock is owned by institutional investors.
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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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