A number of other equities analysts have also weighed in on RECN. Zacks Investment Research upgraded Resources Connection from a sell rating to a hold rating in a research note on Thursday, September 15th. Robert W. Baird lowered Resources Connection from an outperform rating to a neutral rating in a research note on Thursday. Finally, JPMorgan Chase & Co. reiterated a hold rating on shares of Resources Connection in a research note on Thursday.
Shares of Resources Connection (NASDAQ:RECN) traded down 0.15% during trading on Thursday, reaching $13.06. The company had a trading volume of 283,765 shares. The stock’s 50-day moving average price is $14.75 and its 200-day moving average price is $14.86. The company has a market capitalization of $473.36 million, a PE ratio of 16.12 and a beta of 1.31. Resources Connection has a 52 week low of $12.30 and a 52 week high of $18.71.
Resources Connection (NASDAQ:RECN) last issued its quarterly earnings results on Wednesday, October 5th. The company reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.01. Resources Connection had a return on equity of 8.42% and a net margin of 4.88%. The firm had revenue of $143.40 million for the quarter. During the same period in the prior year, the company posted $0.19 earnings per share. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. On average, equities analysts expect that Resources Connection will post $0.82 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 21st. Investors of record on Wednesday, August 24th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend was Monday, August 22nd. This is a positive change from Resources Connection’s previous quarterly dividend of $0.10. Resources Connection’s payout ratio is currently 57.14%.
Institutional investors have recently made changes to their positions in the stock. Walleye Trading LLC raised its position in shares of Resources Connection by 136.7% in the second quarter. Walleye Trading LLC now owns 7,100 shares of the company’s stock valued at $105,000 after buying an additional 4,100 shares in the last quarter. Mason Street Advisors LLC acquired a new position in shares of Resources Connection during the second quarter valued at $106,000. BlackRock Inc. raised its position in shares of Resources Connection by 223.8% in the second quarter. BlackRock Inc. now owns 9,357 shares of the company’s stock valued at $139,000 after buying an additional 6,467 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Resources Connection by 114.9% in the second quarter. BNP Paribas Arbitrage SA now owns 11,486 shares of the company’s stock valued at $170,000 after buying an additional 6,142 shares in the last quarter. Finally, Raymond James & Associates acquired a new position in shares of Resources Connection during the second quarter valued at $179,000. Hedge funds and other institutional investors own 87.39% of the company’s stock.
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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