RCM Technologies (NASDAQ:RCMT) Announces Quarterly Earnings Results

RCM Technologies (NASDAQ:RCMT) announced its quarterly earnings data on Wednesday. The business services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20, FiscalAI reports. RCM Technologies had a return on equity of 37.76% and a net margin of 5.03%.The firm had revenue of $93.82 million during the quarter, compared to the consensus estimate of $81.75 million.

RCM Technologies Price Performance

Shares of RCM Technologies stock traded up $5.05 during trading on Friday, hitting $33.98. The stock had a trading volume of 62,458 shares, compared to its average volume of 59,410. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.65. RCM Technologies has a 12 month low of $17.26 and a 12 month high of $34.47. The firm has a market cap of $240.81 million, a price-to-earnings ratio of 16.03 and a beta of 0.29. The business’s 50-day moving average is $27.51 and its 200 day moving average is $24.45.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on RCMT shares. Weiss Ratings reissued a “hold (c+)” rating on shares of RCM Technologies in a research report on Friday, July 17th. Zacks Research lowered shares of RCM Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. Finally, Wall Street Zen cut shares of RCM Technologies from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $36.00.

Institutional Trading of RCM Technologies

Several institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC grew its holdings in shares of RCM Technologies by 21.1% during the fourth quarter. Barclays PLC now owns 12,717 shares of the business services provider’s stock worth $260,000 after purchasing an additional 2,216 shares in the last quarter. Jane Street Group LLC purchased a new position in RCM Technologies in the 4th quarter worth approximately $288,000. Jacobs Levy Equity Management Inc. purchased a new position in RCM Technologies in the 3rd quarter worth approximately $224,000. Qube Research & Technologies Ltd increased its holdings in shares of RCM Technologies by 5.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 11,187 shares of the business services provider’s stock worth $297,000 after buying an additional 576 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of RCM Technologies by 28.1% in the 3rd quarter. Bank of America Corp DE now owns 4,166 shares of the business services provider’s stock worth $111,000 after buying an additional 915 shares during the last quarter. Hedge funds and other institutional investors own 43.20% of the company’s stock.

About RCM Technologies

RCM Technologies, Inc (NASDAQ: RCMT) is an information technology consulting firm that specializes in delivering secure, enterprise-level technology solutions. The company’s core offerings include IT infrastructure design and integration, data center modernization, cloud migration and management, cybersecurity services, and digital collaboration platforms. RCM Technologies serves clients across federal and commercial markets, tailoring its services to meet the strict security and compliance requirements of government agencies as well as the performance and scalability needs of private-sector organizations.

Founded in the mid-1980s and headquartered in Dresher, Pennsylvania, RCM Technologies has built a reputation for end-to-end project delivery, from initial assessment and design through implementation and ongoing managed support.