Resources Connection, Inc. (RECN) Releases Earnings Results, Meets Expectations
Resources Connection, Inc. (NASDAQ:RECN) issued its earnings results on Wednesday. The business services provider reported $0.12 EPS for the quarter, hitting analysts’ consensus estimates of $0.12, Briefing.com reports. Resources Connection had a return on equity of 8.08% and a net margin of 3.20%. The firm had revenue of $141.20 million for the quarter, compared to the consensus estimate of $140.29 million. During the same quarter in the prior year, the business earned $0.15 earnings per share. The company’s revenue was down 1.5% compared to the same quarter last year.
Resources Connection (NASDAQ RECN) traded up 5.61% during trading on Thursday, reaching $15.05. The company had a trading volume of 735,841 shares. Resources Connection has a 1-year low of $12.05 and a 1-year high of $19.80. The firm has a 50-day moving average of $12.78 and a 200-day moving average of $13.57. The stock has a market capitalization of $449.50 million, a price-to-earnings ratio of 26.88 and a beta of 1.18.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 21st. Stockholders of record on Thursday, August 24th were paid a $0.12 dividend. This is an increase from Resources Connection’s previous quarterly dividend of $0.11. The ex-dividend date was Tuesday, August 22nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.19%. Resources Connection’s dividend payout ratio is presently 87.27%.
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A number of analysts have recently commented on RECN shares. Zacks Investment Research upgraded Resources Connection from a “sell” rating to a “hold” rating in a research note on Thursday, September 21st. Robert W. Baird restated a “hold” rating and issued a $15.00 target price on shares of Resources Connection in a research note on Friday, August 25th. BidaskClub downgraded Resources Connection from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Deutsche Bank AG lowered their target price 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. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $13.50.
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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