Resources Connection Inc. (NASDAQ:RECN) is scheduled to release its earnings data after the market closes on Wednesday, October 5th. Analysts expect Resources Connection to post earnings of $0.16 per share for the quarter.
Resources Connection (NASDAQ:RECN) last announced its quarterly earnings results on Thursday, July 14th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.02. Resources Connection had a return on equity of 8.86% and a net margin of 5.09%. The business earned $152.20 million during the quarter. During the same period in the prior year, the business earned $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 14.97 on Tuesday. Resources Connection Inc. has a one year low of $12.30 and a one year high of $18.71. The firm’s 50-day moving average price is $14.84 and its 200 day moving average price is $14.88. The firm has a market cap of $542.59 million, a P/E ratio of 18.48 and a beta of 1.31.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 21st. Shareholders of record on Wednesday, August 24th were paid a $0.11 dividend. The ex-dividend date was Monday, August 22nd. This is a positive change from Resources Connection’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a yield of 2.94%. Resources Connection’s payout ratio is 54.32%.
Several large investors have recently added to or reduced their stakes in the stock. AHL Partners LLP increased 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. increased 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 increased its stake in shares of 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 during the period. Raymond James & Associates bought a new stake in shares of Resources Connection during the second quarter valued at about $179,000. Finally, TFS Capital LLC increased its stake in shares of 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 during the period. Hedge funds and other institutional investors own 87.39% of the company’s stock.
RECN has been the subject of several recent research reports. Zacks Investment Research upgraded Resources Connection from a “sell” rating to a “hold” rating in a report on Thursday, September 15th. Deutsche Bank AG initiated coverage on Resources Connection in a report on Wednesday, August 17th. They set a “sell” rating and a $13.00 price objective for the company.
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). 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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