Resources Connection, Inc. (NASDAQ:RECN) has earned an average recommendation of “Hold” from the six research firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $14.67.
Several research firms have recently commented on RECN. BidaskClub upgraded Resources Connection from a “hold” rating to a “buy” rating in a research note on Thursday, January 11th. Zacks Investment Research upgraded Resources Connection from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Tuesday, January 9th. TheStreet upgraded Resources Connection from a “c+” rating to a “b” rating in a research note on Thursday, January 4th. Robert W. Baird restated a “hold” rating and set a $15.00 price target on shares of Resources Connection in a research note on Friday, November 10th. Finally, JPMorgan Chase & Co. cut Resources Connection from a “neutral” rating to an “underweight” rating and set a $16.00 price target for the company. in a research note on Thursday, January 4th.
Shares of Resources Connection (NASDAQ:RECN) traded down $0.35 during midday trading on Monday, reaching $16.25. The company’s stock had a trading volume of 117,812 shares, compared to its average volume of 134,061. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.36 and a current ratio of 2.36. Resources Connection has a one year low of $12.05 and a one year high of $17.40. The stock has a market capitalization of $520.82, a PE ratio of 28.02 and a beta of 1.21.
Resources Connection (NASDAQ:RECN) last issued its quarterly earnings data on Wednesday, January 3rd. The business services provider reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.05. Resources Connection had a return on equity of 8.25% and a net margin of 2.98%. The company had revenue of $156.70 million during the quarter, compared to analysts’ expectations of $152.91 million. During the same quarter in the previous year, the business earned $0.26 earnings per share. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. equities analysts predict that Resources Connection will post 0.83 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, February 15th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend is Wednesday, February 14th. Resources Connection’s dividend payout ratio (DPR) is presently 82.76%.
Several institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its stake in shares of Resources Connection by 1.5% during the second quarter. Wells Fargo & Company MN now owns 25,126 shares of the business services provider’s stock worth $343,000 after purchasing an additional 380 shares during the last quarter. Teachers Advisors LLC raised its stake in shares of Resources Connection by 0.7% during the second quarter. Teachers Advisors LLC now owns 57,908 shares of the business services provider’s stock worth $793,000 after purchasing an additional 387 shares during the last quarter. AHL Partners LLP raised its stake in shares of Resources Connection by 8.7% during the second quarter. AHL Partners LLP now owns 15,851 shares of the business services provider’s stock worth $217,000 after purchasing an additional 1,262 shares during the last quarter. California Public Employees Retirement System raised its position in Resources Connection by 0.9% in the second quarter. California Public Employees Retirement System now owns 165,085 shares of the business services provider’s stock worth $2,262,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Voya Investment Management LLC raised its position in Resources Connection by 10.2% in the second quarter. Voya Investment Management LLC now owns 20,647 shares of the business services provider’s stock worth $283,000 after acquiring an additional 1,917 shares in the last quarter. Institutional investors and hedge funds own 77.76% of the company’s stock.
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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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