RCM Technologies (NASDAQ:RCMT) Announces Earnings Results

RCM Technologies (NASDAQ:RCMT) released its quarterly earnings results on Thursday. The business services provider reported $0.82 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 business had revenue of $93.82 million during the quarter, compared to analyst estimates of $81.75 million.

RCM Technologies Stock Up 1.4%

Shares of NASDAQ:RCMT traded up $0.40 during trading on Thursday, hitting $28.92. The stock had a trading volume of 28,194 shares, compared to its average volume of 59,539. The company has a market capitalization of $205.04 million, a PE ratio of 13.64 and a beta of 0.29. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.65. The firm’s fifty day moving average is $27.41 and its 200 day moving average is $24.39. RCM Technologies has a 12 month low of $17.26 and a 12 month high of $32.50.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Wall Street Zen lowered RCM Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Zacks Research lowered shares of RCM Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of RCM Technologies in a research report on Friday, July 17th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $36.00.

Hedge Funds Weigh In On RCM Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC purchased a new position in RCM Technologies during the fourth quarter valued at $257,000. Barclays PLC increased its stake in shares of RCM Technologies by 21.1% in the 4th quarter. Barclays PLC now owns 12,717 shares of the business services provider’s stock worth $260,000 after acquiring an additional 2,216 shares in the last quarter. State Street Corp increased its stake in shares of RCM Technologies by 3.8% in the 4th quarter. State Street Corp now owns 69,987 shares of the business services provider’s stock worth $1,431,000 after acquiring an additional 2,562 shares in the last quarter. Jane Street Group LLC purchased a new position in RCM Technologies during the 4th quarter valued at about $288,000. Finally, O Shaughnessy Asset Management LLC lifted its position in RCM Technologies by 2.5% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 69,304 shares of the business services provider’s stock valued at $1,417,000 after acquiring an additional 1,674 shares during the period. 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.