Resources Connection Inc. (RECN) Set to Announce Quarterly Earnings on Wednesday
Resources Connection Inc. (NASDAQ:RECN) will be announcing its earnings results after the market closes on Wednesday, October 5th. Analysts expect the company to announce earnings of $0.16 per share for the quarter.
Resources Connection (NASDAQ:RECN) last issued its earnings results on Thursday, July 14th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.02. Resources Connection had a net margin of 5.09% and a return on equity of 8.86%. The company had revenue of $152.20 million for the quarter. During the same quarter in the prior year, the business posted $0.21 EPS. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, analysts expect Resources Connection to post $0.82 EPS for the current fiscal year and $0.97 EPS for the next fiscal year.
Shares of Resources Connection Inc. (NASDAQ:RECN) opened at 14.94 on Monday. The company has a 50-day moving average of $14.85 and a 200 day moving average of $14.88. Resources Connection Inc. has a one year low of $12.30 and a one year high of $18.71. The stock has a market cap of $541.50 million, a PE ratio of 18.44 and a beta of 1.27.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 21st. Shareholders of record on Wednesday, August 24th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 2.95%. This is a boost from Resources Connection’s previous quarterly dividend of $0.10. The ex-dividend date was Monday, August 22nd. Resources Connection’s payout ratio is 54.32%.
RECN has been the subject of several research reports. Deutsche Bank AG initiated coverage on shares of Resources Connection in a research report on Wednesday, August 17th. They issued a “sell” rating and a $13.00 price objective for the company. Zacks Investment Research upgraded shares of Resources Connection from a “sell” rating to a “hold” rating in a report on Thursday, June 9th.
Large investors have recently bought and sold shares of the stock. AHL Partners LLP raised its stake in Resources Connection by 84.5% in the second quarter. AHL Partners LLP now owns 21,755 shares of the company’s stock valued at $322,000 after buying an additional 9,961 shares in the last quarter. Panagora Asset Management Inc. raised its stake in Resources Connection by 6.4% in the second quarter. Panagora Asset Management Inc. now owns 445,456 shares of the company’s stock valued at $6,584,000 after buying an additional 26,837 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Resources Connection by 0.4% in the second quarter. Thrivent Financial for Lutherans now owns 138,050 shares of the company’s stock valued at $2,041,000 after buying an additional 500 shares in the last quarter. Raymond James & Associates acquired a new stake in Resources Connection during the second quarter valued at approximately $179,000. Finally, TFS Capital LLC raised its stake in Resources Connection by 36.8% in the second quarter. TFS Capital LLC now owns 16,386 shares of the company’s stock valued at $242,000 after buying an additional 4,406 shares in the last quarter. Institutional investors and hedge funds own 87.39% of the company’s stock.
About Resources Connection
Resources Connection, Inc is a multinational consulting firm. The Company’s operating entities primarily provide services under the name Resources Global Professionals (RGP). It provides consulting and business initiative support services to its global client base in the areas of accounting; finance; corporate governance, risk and compliance management; corporate advisory, strategic communications and restructuring; information management; human capital; supply chain management; healthcare solutions, and legal and regulatory.
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