The Hackett Group, Inc. (HCKT) Expected to Announce Quarterly Sales of $74.3 Million
Equities research analysts forecast that The Hackett Group, Inc. (NASDAQ:HCKT) will post sales of $74.3 million for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for The Hackett Group’s earnings. The highest sales estimate is $74.5 million and the lowest is $73.7 million. The Hackett Group reported sales of $75.61 million in the same quarter last year, which indicates a negative year over year growth rate of 1.7%. The business is expected to report its next quarterly earnings report on Tuesday, August 8th.
According to Zacks, analysts expect that The Hackett Group will report full-year sales of $74.3 million for the current financial year, with estimates ranging from $294.73 million to $300.01 million. For the next financial year, analysts anticipate that the business will post sales of $326.12 million per share, with estimates ranging from $320.01 million to $331.3 million. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for The Hackett Group.
The Hackett Group (NASDAQ:HCKT) last announced its earnings results on Tuesday, May 9th. The business services provider reported $0.23 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.23. The company had revenue of $71.50 million for the quarter, compared to analysts’ expectations of $72.98 million. The Hackett Group had a return on equity of 23.77% and a net margin of 6.80%. The Hackett Group’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.20 earnings per share.
HCKT has been the subject of a number of analyst reports. Zacks Investment Research lowered The Hackett Group from a “buy” rating to a “hold” rating in a research report on Tuesday, April 25th. Craig Hallum lowered The Hackett Group from a “buy” rating to a “hold” rating and set a $18.00 price objective for the company. in a research report on Wednesday, May 10th. Griffin Securities reaffirmed a “buy” rating on shares of The Hackett Group in a research report on Friday, March 10th. Finally, Roth Capital lowered The Hackett Group from a “buy” rating to a “neutral” rating and set a $20.00 price objective for the company. in a research report on Wednesday, May 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $20.25.
In related news, Director Richard N. Hamlin sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $20.01, for a total transaction of $800,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 20.90% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Neumeier Poma Investment Counsel LLC raised its position in The Hackett Group by 139.4% in the fourth quarter. Neumeier Poma Investment Counsel LLC now owns 621,400 shares of the business services provider’s stock worth $10,974,000 after buying an additional 361,825 shares during the period. Renaissance Technologies LLC increased its stake in shares of The Hackett Group by 68.7% in the first quarter. Renaissance Technologies LLC now owns 882,444 shares of the business services provider’s stock valued at $17,199,000 after buying an additional 359,300 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of The Hackett Group during the fourth quarter valued at approximately $3,216,000. Acadian Asset Management LLC increased its stake in shares of The Hackett Group by 23.7% in the first quarter. Acadian Asset Management LLC now owns 874,967 shares of the business services provider’s stock valued at $17,053,000 after buying an additional 167,388 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of The Hackett Group by 8.8% in the first quarter. Vanguard Group Inc. now owns 1,618,720 shares of the business services provider’s stock valued at $31,549,000 after buying an additional 131,226 shares in the last quarter. 75.40% of the stock is owned by institutional investors.
The Hackett Group (NASDAQ:HCKT) opened at 14.73 on Friday. The Hackett Group has a 12 month low of $13.06 and a 12 month high of $20.69. The company’s 50 day moving average price is $18.56 and its 200 day moving average price is $17.91. The stock has a market cap of $430.40 million, a PE ratio of 19.13 and a beta of 1.00.
The business also recently disclosed a semiannual dividend, which will be paid on Tuesday, July 11th. Investors of record on Friday, June 30th will be given a dividend of $0.15 per share. This represents a yield of 1.94%. The ex-dividend date is Wednesday, June 28th. This is a positive change from The Hackett Group’s previous semiannual dividend of $0.13. The Hackett Group’s dividend payout ratio (DPR) is 44.07%.
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About The Hackett Group
The Hackett Group, Inc is an advisory and technology consulting company. The Company’s services include business transformation, enterprise performance management, working capital management and global business services. The Company is engaged in providing business and technology consulting services.
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