Resources Connection Inc. (NASDAQ:RECN) has been assigned an average broker rating score of 3.00 (Hold) from the two analysts that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong sell recommendation and one has issued a strong buy recommendation on the company. Resources Connection’s rating score has declined by 50% in the last three months as a result of various analysts’ upgrades and downgrades.
Analysts have set a 12 month consensus price objective of $14.50 for the company and are predicting that the company will post $0.17 earnings per share for the current quarter, according to Zacks. Zacks has also given Resources Connection an industry rank of 107 out of 265 based on the ratings given to its competitors.
Several equities research analysts recently commented on RECN shares. Deutsche Bank AG started coverage on Resources Connection in a research report on Wednesday, August 17th. They set a “sell” rating and a $13.00 target price on the stock. Zacks Investment Research upgraded Resources Connection from a “sell” rating to a “hold” rating in a research report on Thursday, June 9th.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Walleye Trading LLC increased its position in Resources Connection by 136.7% in the second quarter. Walleye Trading LLC now owns 7,100 shares of the company’s stock worth $105,000 after buying an additional 4,100 shares during the period. Mason Street Advisors LLC purchased a new position in Resources Connection during the second quarter worth $106,000. Envestnet Asset Management Inc. increased its position in Resources Connection by 57.8% in the first quarter. Envestnet Asset Management Inc. now owns 7,195 shares of the company’s stock worth $112,000 after buying an additional 2,634 shares during the period. BlackRock Inc. increased its position in Resources Connection by 223.8% in the second quarter. BlackRock Inc. now owns 9,357 shares of the company’s stock worth $139,000 after buying an additional 6,467 shares during the period. Finally, BNP Paribas Arbitrage SA increased its position in Resources Connection by 114.9% in the second quarter. BNP Paribas Arbitrage SA now owns 11,486 shares of the company’s stock worth $170,000 after buying an additional 6,142 shares during the period. 87.39% of the stock is currently owned by institutional investors and hedge funds.
Resources Connection (NASDAQ:RECN) opened at 14.77 on Friday. The company has a market capitalization of $535.34 million, a P/E ratio of 18.23 and a beta of 1.31. Resources Connection has a 1-year low of $12.30 and a 1-year high of $18.71. The firm has a 50-day moving average price of $14.82 and a 200-day moving average price of $14.88.
Resources Connection (NASDAQ:RECN) last announced its earnings results on Thursday, July 14th. The company reported $0.23 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 company had revenue of $152.20 million for the quarter. During the same quarter in the previous year, the company earned $0.21 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, analysts forecast that Resources Connection will post $0.82 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 21st. Investors of record on Wednesday, August 24th were paid a dividend of $0.11 per share. This is an increase from Resources Connection’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend was Monday, August 22nd. Resources Connection’s dividend payout ratio is 54.32%.
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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