Resources Connection Hits New 12-Month High at $15.98 (RECN)
Resources Connection (NASDAQ:RECN) hit a new 52-week high during trading on Tuesday , ARN reports. The company traded as high as $15.98 and last traded at $15.78, with a volume of 34,957 shares changing hands. The stock had previously closed at $15.79.
A number of research firms have recently commented on RECN. Analysts at Macquarie reiterated a “neutral” rating on shares of Resources Connection in a research note on Friday, July 18th. They now have a $15.00 price target on the stock, down previously from $19.00. Separately, analysts at Robert W. Baird upgraded shares of Resources Connection from a “neutral” rating to an “outperform” rating in a research note on Friday, July 18th. Finally, analysts at BMO Capital Markets raised their price target on shares of Resources Connection from $15.00 to $16.00 in a research note on Friday, July 18th.
The stock has a 50-day moving average of $14.4 and a 200-day moving average of $13.62. The company has a market cap of $600.1 million and a P/E ratio of 31.14.
Resources Connection (NASDAQ:RECN) last announced its earnings results on Thursday, July 17th. The company reported $0.23 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.18 by $0.05. The company had revenue of $156.80 million for the quarter, compared to the consensus estimate of $154.97 million. During the same quarter in the prior year, the company posted $0.16 earnings per share. The company’s quarterly revenue was up 11.8% on a year-over-year basis. Analysts expect that Resources Connection will post $0.69 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, September 25th. Investors of record on Thursday, August 28th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Tuesday, August 26th. This is an increase from Resources Connection’s previous quarterly dividend of $0.07.
Resources Connection, Inc is a multinational consulting firm. The Company’s operating entities primarily provide services under the name Resources Global Professionals (NASDAQ:RECN).
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