Analysts Anticipate Resources Connection, Inc. (NASDAQ:RECN) to Announce $0.13 Earnings Per Share

Brokerages expect that Resources Connection, Inc. (NASDAQ:RECN) will announce earnings of $0.13 per share for the current quarter, Zacks reports. Two analysts have made estimates for Resources Connection’s earnings, with the lowest EPS estimate coming in at $0.10 and the highest estimate coming in at $0.15. Resources Connection posted earnings of $0.20 per share in the same quarter last year, which suggests a negative year over year growth rate of 35%. The business is scheduled to report its next quarterly earnings results after the market closes on Thursday, April 2nd.

According to Zacks, analysts expect that Resources Connection will report full-year earnings of $0.97 per share for the current fiscal year, with EPS estimates ranging from $0.95 to $0.99. For the next fiscal year, analysts forecast that the business will report earnings of $1.01 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover Resources Connection.

Resources Connection (NASDAQ:RECN) last released its earnings results on Thursday, January 2nd. The business services provider reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.08. Resources Connection had a net margin of 4.52% and a return on equity of 11.74%. The company had revenue of $184.51 million during the quarter, compared to the consensus estimate of $183.00 million. During the same quarter in the prior year, the firm earned $0.33 EPS. The company’s revenue was down 2.3% compared to the same quarter last year.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Resources Connection from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Wednesday. BidaskClub downgraded shares of Resources Connection from a “sell” rating to a “strong sell” rating in a research report on Tuesday, February 11th.

In other Resources Connection news, CFO Jennifer Y. Ryu sold 1,586 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $16.03, for a total value of $25,423.58. Following the completion of the sale, the chief financial officer now owns 862 shares in the company, valued at approximately $13,817.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 10.50% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in RECN. Procyon Private Wealth Partners LLC acquired a new position in shares of Resources Connection during the 4th quarter worth $31,000. Meeder Asset Management Inc. lifted its holdings in Resources Connection by 573.4% in the 4th quarter. Meeder Asset Management Inc. now owns 2,276 shares of the business services provider’s stock worth $37,000 after buying an additional 1,938 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Resources Connection by 43.2% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 2,674 shares of the business services provider’s stock worth $45,000 after buying an additional 807 shares in the last quarter. SG Americas Securities LLC acquired a new position in Resources Connection in the 4th quarter worth $118,000. Finally, Zebra Capital Management LLC acquired a new position in Resources Connection in the 3rd quarter worth $185,000. Institutional investors own 84.53% of the company’s stock.

RECN stock traded up $1.13 during midday trading on Friday, reaching $10.79. The company had a trading volume of 194,357 shares, compared to its average volume of 182,056. Resources Connection has a 1 year low of $8.66 and a 1 year high of $17.93. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $309.70 million, a P/E ratio of 10.79 and a beta of 1.28. The company has a 50 day moving average of $12.40 and a two-hundred day moving average of $14.91.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Thursday, February 20th were given a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $0.56 dividend on an annualized basis and a yield of 5.19%. Resources Connection’s payout ratio is 54.37%.

About Resources Connection

Resources Connection, Inc provides business consulting services under the Resources Global Professionals name in North America, Europe, and the Asia Pacific. The company offers process transformation and optimization, financial reporting and analysis, technical and operational accounting, and merger and acquisition due diligence and integration services; new accounting standards implementation and remediation support services; and audit readiness, and preparation and response services.

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