Analysts expect Resources Connection, Inc. (NASDAQ:RECN) to post $163.47 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Resources Connection’s earnings. The highest sales estimate is $170.60 million and the lowest is $149.82 million. Resources Connection posted sales of $143.84 million during the same quarter last year, which suggests a positive year over year growth rate of 13.6%. The company is expected to issue its next quarterly 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 expect that the firm will report sales of $675.17 million per share, with estimates ranging from $623.58 million to $704.98 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Resources Connection.
Resources Connection (NASDAQ:RECN) last released its earnings results on Wednesday, January 3rd. The business services provider reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.05. The business had revenue of $156.70 million for the quarter, compared to the consensus estimate of $152.91 million. Resources Connection had a return on equity of 8.25% and a net margin of 2.98%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.26 earnings per share.
Several equities analysts have recently weighed in on the company. Zacks Investment Research downgraded Resources Connection from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. BidaskClub upgraded Resources Connection from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. TheStreet upgraded Resources Connection from a “c+” rating to a “b” rating in a research report on Thursday, January 4th. JPMorgan Chase & Co. downgraded Resources Connection from a “neutral” rating to an “underweight” rating and set a $16.00 target price on the stock. in a research report on Thursday, January 4th. Finally, Robert W. Baird restated a “hold” rating and issued a $15.00 target price on shares of Resources Connection in a research report on Friday, November 10th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $15.25.
Large investors have recently bought and sold shares of the stock. Aperio Group LLC acquired a new stake in shares of Resources Connection in the fourth quarter valued at approximately $157,000. SG Americas Securities LLC acquired a new stake in shares of Resources Connection in the third quarter valued at approximately $153,000. Municipal Employees Retirement System of Michigan increased its holdings in shares of Resources Connection by 58.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 11,130 shares of the business services provider’s stock valued at $155,000 after purchasing an additional 4,120 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Resources Connection in the third quarter valued at approximately $164,000. Finally, Algert Global LLC acquired a new stake in shares of Resources Connection in the fourth quarter valued at approximately $184,000. 78.68% of the stock is owned by hedge funds and other institutional investors.
Resources Connection (NASDAQ:RECN) traded up $0.20 during midday trading on Wednesday, hitting $15.60. The stock had a trading volume of 82,700 shares, compared to its average volume of 142,791. The stock has a market capitalization of $489.44, a P/E ratio of 26.90 and a beta of 1.21. Resources Connection has a 1-year low of $12.05 and a 1-year high of $17.40. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.36 and a current ratio of 2.36.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, February 15th will be issued a $0.12 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $0.48 annualized dividend and a dividend yield of 3.08%. Resources Connection’s dividend payout ratio is presently 82.76%.
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About Resources Connection
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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