Resources Connection, Inc. (RECN) Expected to Announce Earnings of $0.20 Per Share
Wall Street brokerages predict that Resources Connection, Inc. (NASDAQ:RECN) will announce earnings per share (EPS) of $0.20 for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Resources Connection’s earnings, with estimates ranging from $0.18 to $0.21. Resources Connection reported earnings per share of $0.18 during the same quarter last year, which would suggest a positive year over year growth rate of 11.1%. The firm is scheduled to report its next quarterly earnings results 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 financial year, with EPS estimates ranging from $0.63 to $0.70. For the next financial year, analysts forecast that the business will report earnings of $0.83 per share, with EPS estimates ranging from $0.80 to $0.88. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Resources Connection.
Resources Connection (NASDAQ:RECN) last posted its earnings results on Wednesday, October 4th. The business services provider reported $0.12 earnings per share 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 firm had revenue of $141.20 million during the quarter, compared to analyst estimates of $140.29 million. During the same period last year, the firm posted $0.15 earnings per share. Resources Connection’s revenue for the quarter was down 1.5% compared to the same quarter last year.
Several research firms recently commented on RECN. Zacks Investment Research raised Resources Connection from a “sell” rating to a “hold” rating in a research note on Thursday, September 21st. Deutsche Bank AG reduced their price objective on Resources Connection from $14.00 to $12.00 and set a “sell” rating for the company in a research note on Friday, July 21st. BidaskClub downgraded Resources Connection from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Finally, Robert W. Baird reissued a “hold” rating and issued a $15.00 price objective 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 given a hold rating to the company. The stock has a consensus rating of “Hold” and an average target price of $15.00.
A number of large investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA grew its holdings 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 buying an additional 104 shares in the last quarter. Texas Permanent School Fund grew its holdings in Resources Connection by 0.6% in the 2nd quarter. Texas Permanent School Fund now owns 21,651 shares of the business services provider’s stock valued at $297,000 after buying an additional 130 shares in the last quarter. Arizona State Retirement System grew its holdings in Resources Connection by 2.0% in the 1st quarter. Arizona State Retirement System now owns 15,495 shares of the business services provider’s stock valued at $260,000 after buying an additional 300 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Resources Connection by 1.5% in the 2nd quarter. Wells Fargo & Company MN now owns 25,126 shares of the business services provider’s stock valued at $343,000 after buying an additional 380 shares in the last quarter. Finally, Teachers Advisors LLC grew its holdings in Resources Connection by 0.7% in the 2nd quarter. Teachers Advisors LLC now owns 57,908 shares of the business services provider’s stock valued at $793,000 after buying an additional 387 shares in the last quarter. Institutional investors own 82.11% of the company’s stock.
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Resources Connection (NASDAQ RECN) traded up 0.169% on Tuesday, hitting $14.775. 19,616 shares of the company were exchanged. The stock has a market capitalization of $441.28 million, a P/E ratio of 26.384 and a beta of 1.18. The stock’s 50-day moving average price is $13.14 and its 200-day moving average price is $13.52. Resources Connection has a 52-week low of $12.05 and a 52-week high of $19.80.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 21st. Shareholders of record on Thursday, August 24th were issued a $0.12 dividend. This is a boost from Resources Connection’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend was Tuesday, August 22nd. Resources Connection’s dividend payout ratio is presently 102.13%.
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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