Resources Connection Inc. (RECN) Given a $12.00 Price Target by Deutsche Bank AG Analysts
Resources Connection Inc. (NASDAQ:RECN) has been given a $12.00 price target by research analysts at Deutsche Bank AG in a research note issued to investors on Thursday. The firm currently has a a “sell” rating on the stock. Deutsche Bank AG’s target price indicates a potential downside of 8.26% from the company’s previous close.
A number of other brokerages have also issued reports on RECN. JPMorgan Chase & Co. reissued a “hold” rating on shares of Resources Connection in a research report on Thursday. Zacks Investment Research raised Resources Connection from a “sell” rating to a “hold” rating in a research report on Thursday, June 9th. Finally, Robert W. Baird lowered Resources Connection from an “outperform” rating to a “neutral” rating in a research report on Thursday.
Resources Connection (NASDAQ:RECN) traded up 0.038% during trading on Thursday, hitting $13.085. The stock had a trading volume of 271,845 shares. Resources Connection has a 12-month low of $12.30 and a 12-month high of $18.71. The company has a market cap of $474.27 million, a P/E ratio of 16.154 and a beta of 1.31. The company has a 50 day moving average of $14.75 and a 200-day moving average of $14.87.
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Resources Connection (NASDAQ:RECN) last announced its earnings results on Wednesday, October 5th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by $0.01. The company had revenue of $143.40 million for the quarter. Resources Connection had a return on equity of 8.42% and a net margin of 4.88%. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.19 earnings per share. On average, equities analysts predict that Resources Connection will post $0.82 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 21st. Shareholders of record on Wednesday, August 24th were given a $0.11 dividend. This is a positive change from Resources Connection’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend was Monday, August 22nd. Resources Connection’s dividend payout ratio is presently 57.14%.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Strs Ohio raised its position in shares of Resources Connection by 4.1% in the second quarter. Strs Ohio now owns 48,400 shares of the company’s stock valued at $715,000 after buying an additional 1,900 shares during the last quarter. Stoneridge Investment Partners LLC purchased a new position in shares of Resources Connection during the second quarter valued at $350,000. Bank of Montreal Can purchased a new position in shares of Resources Connection during the second quarter valued at $240,000. BNP Paribas Arbitrage SA raised its position in shares of Resources Connection by 114.9% in the second quarter. BNP Paribas Arbitrage SA now owns 11,486 shares of the company’s stock valued at $170,000 after buying an additional 6,142 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its position in shares of Resources Connection by 9.9% in the first quarter. Panagora Asset Management Inc. now owns 418,619 shares of the company’s stock valued at $6,514,000 after buying an additional 37,742 shares during the last quarter. 87.39% of the stock is currently owned by institutional investors.
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). It provides consulting and business initiative support services to its global client base in the areas of accounting; finance; corporate governance, risk and compliance management; corporate advisory, strategic communications and restructuring; information management; human capital; supply chain management; healthcare solutions, and legal and regulatory.
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