Resources Connection, Inc. (RECN) to Release Earnings on Tuesday
Resources Connection, Inc. (NASDAQ:RECN) is scheduled to post its quarterly earnings results after the market closes on Tuesday, October 3rd. Analysts expect Resources Connection to post earnings of $0.17 per share for the quarter.
Resources Connection (NASDAQ:RECN) last issued its quarterly earnings results on Thursday, July 20th. The business services provider reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.02). The business had revenue of $148.60 million for the quarter, compared to the consensus estimate of $148.46 million. Resources Connection had a return on equity of 8.08% and a net margin of 3.20%. The business’s revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 earnings per share. On average, analysts expect Resources Connection to post $0.7 EPS for the current fiscal year and $0.82 EPS for the next fiscal year.
Shares of Resources Connection, Inc. (NASDAQ RECN) opened at 12.90 on Tuesday. The company has a market capitalization of $385.28 million, a price-to-earnings ratio of 23.04 and a beta of 1.21. Resources Connection, Inc. has a one year low of $12.05 and a one year high of $19.80. The company’s 50-day moving average price is $12.60 and its 200-day moving average price is $13.79.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 21st. Investors of record on Thursday, August 24th were paid a $0.12 dividend. The ex-dividend date was Tuesday, August 22nd. This represents a $0.48 annualized dividend and a dividend yield of 3.75%. This is an increase from Resources Connection’s previous quarterly dividend of $0.11. Resources Connection’s dividend payout ratio is presently 87.27%.
Several analysts recently weighed in on RECN shares. Deutsche Bank AG cut their price target on Resources Connection from $14.00 to $12.00 and set a “sell” rating on the stock in a research note on Friday, July 21st. Robert W. Baird restated a “hold” rating and issued a $15.00 price target on shares of Resources Connection in a research note on Friday, August 25th. Zacks Investment Research downgraded Resources Connection from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Finally, BidaskClub downgraded Resources Connection from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $15.33.
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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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