Analysts predict that Resources Connection, Inc. (NASDAQ:RECN) will post sales of $163.47 million for the current quarter, according to Zacks. Three analysts have issued estimates for Resources Connection’s earnings, with estimates ranging from $149.82 million to $170.60 million. Resources Connection reported sales of $143.84 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 13.6%. The company is expected to announce its next earnings results on Wednesday, April 4th.
According to Zacks, analysts expect that Resources Connection will report full-year sales of $163.47 million for the current year, with estimates ranging from $599.35 million to $644.98 million. For the next fiscal year, analysts anticipate that the company will report sales of $675.17 million per share, with estimates ranging from $623.58 million to $704.98 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Resources Connection.
Resources Connection (NASDAQ:RECN) last posted its earnings results on Wednesday, January 3rd. The business services provider reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.05. The company had revenue of $156.70 million during the quarter, compared to analysts’ expectations of $152.91 million. Resources Connection had a net margin of 2.98% and a return on equity of 8.25%. Resources Connection’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the company posted $0.26 earnings per share.
Shares of Resources Connection (NASDAQ RECN) traded up $0.20 during trading hours on Wednesday, hitting $15.60. 82,735 shares of the company’s stock were exchanged, compared to its average volume of 120,253. Resources Connection has a 1-year low of $12.05 and a 1-year high of $17.40. The stock has a market cap of $483.17, a PE ratio of 26.90 and a beta of 1.21. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.19.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, February 15th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.08%. Resources Connection’s payout ratio is currently 82.76%.
Several large investors have recently modified their holdings of the business. MetLife Investment Advisors LLC purchased a new position in shares of Resources Connection in the 4th quarter worth $187,000. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Resources Connection by 50.4% in the 4th quarter. Municipal Employees Retirement System of Michigan now owns 16,740 shares of the business services provider’s stock worth $259,000 after acquiring an additional 5,610 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in shares of Resources Connection by 29.1% in the 4th quarter. Macquarie Group Ltd. now owns 18,808 shares of the business services provider’s stock worth $291,000 after acquiring an additional 4,236 shares during the last quarter. Greenhouse Funds LLLP bought a new stake in shares of Resources Connection in the 4th quarter worth about $3,513,000. Finally, Two Sigma Investments LP lifted its holdings in shares of Resources Connection by 51.9% in the 4th quarter. Two Sigma Investments LP now owns 40,810 shares of the business services provider’s stock worth $631,000 after acquiring an additional 13,939 shares during the last quarter. 77.54% of the stock is owned by institutional investors and hedge funds.
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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). The Company provides consulting and business initiative support services to its global client base in the areas of accounting; finance; corporate governance, risk and compliance (GRC) management; corporate advisory, strategic communications and restructuring; information management; human capital; supply chain management, and legal and regulatory.
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