$70.66 Million in Sales Expected for The Hackett Group, Inc. (HCKT) This Quarter
Brokerages expect The Hackett Group, Inc. (NASDAQ:HCKT) to report $70.66 million in sales for the current fiscal quarter, Zacks reports. Five analysts have made estimates for The Hackett Group’s earnings, with estimates ranging from $70.20 million to $71.00 million. The Hackett Group posted sales of $74.12 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 4.7%. The business is expected to announce its next earnings results on Monday, November 6th.
According to Zacks, analysts expect that The Hackett Group will report full year sales of $70.66 million for the current fiscal year, with estimates ranging from $283.24 million to $287.50 million. For the next year, analysts forecast that the firm will report sales of $301.19 million per share, with estimates ranging from $296.46 million to $309.00 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for The Hackett Group.
The Hackett Group (NASDAQ:HCKT) last released its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.02. The firm had revenue of $73.60 million during the quarter, compared to analyst estimates of $74.36 million. The Hackett Group had a net margin of 8.42% and a return on equity of 27.74%. The Hackett Group’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.24 earnings per share.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of The Hackett Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 18th. BidaskClub upgraded shares of The Hackett Group from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Finally, SunTrust Banks, Inc. assumed coverage on shares of The Hackett Group in a research note on Thursday, June 15th. They set a “buy” rating and a $19.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The Hackett Group presently has a consensus rating of “Hold” and an average target price of $20.00.
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The Hackett Group (NASDAQ HCKT) opened at 13.80 on Friday. The Hackett Group has a 52-week low of $13.24 and a 52-week high of $20.69. The firm has a market capitalization of $398.39 million, a price-to-earnings ratio of 18.38 and a beta of 0.88. The firm has a 50-day moving average of $14.58 and a 200-day moving average of $16.75.
The Hackett Group declared that its Board of Directors has initiated a share repurchase plan on Monday, May 15th that allows the company to repurchase $5.00 million in shares. This repurchase authorization allows the business services provider to buy up to 1.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. bought a new position in The Hackett Group in the 1st quarter valued at approximately $125,000. Martingale Asset Management L P raised its holdings in The Hackett Group by 4.8% in the 1st quarter. Martingale Asset Management L P now owns 103,244 shares of the business services provider’s stock valued at $2,013,000 after buying an additional 4,697 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in The Hackett Group by 9.0% in the 1st quarter. Bank of New York Mellon Corp now owns 303,800 shares of the business services provider’s stock valued at $5,921,000 after buying an additional 25,046 shares during the last quarter. Eqis Capital Management Inc. raised its holdings in The Hackett Group by 18.9% in the 2nd quarter. Eqis Capital Management Inc. now owns 31,811 shares of the business services provider’s stock valued at $493,000 after buying an additional 5,047 shares during the last quarter. Finally, Bowling Portfolio Management LLC raised its holdings in The Hackett Group by 45.7% in the 2nd quarter. Bowling Portfolio Management LLC now owns 62,906 shares of the business services provider’s stock valued at $975,000 after buying an additional 19,737 shares during the last quarter. Institutional investors and hedge funds own 81.51% of the company’s stock.
The Hackett Group Company Profile
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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