Resources Connection, Inc. (RECN) Expected to Announce Quarterly Sales of $152.81 Million
Equities research analysts expect Resources Connection, Inc. (NASDAQ:RECN) to post sales of $152.81 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Resources Connection’s earnings, with the lowest sales estimate coming in at $152.41 million and the highest estimate coming in at $153.31 million. Resources Connection posted sales of $147.56 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.6%. The business is expected to report its next quarterly earnings report on Wednesday, January 3rd.
According to Zacks, analysts expect that Resources Connection will report full year sales of $152.81 million for the current year, with estimates ranging from $596.61 million to $605.03 million. For the next fiscal year, analysts expect that the company will report sales of $621.17 million per share, with estimates ranging from $609.95 million to $629.98 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that that provide coverage for Resources Connection.
Resources Connection (NASDAQ:RECN) last announced its quarterly earnings data on Wednesday, October 4th. The business services provider reported $0.12 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.12. Resources Connection had a return on equity of 8.08% and a net margin of 2.60%. The firm had revenue of $141.20 million for the quarter, compared to the consensus estimate of $140.29 million. During the same quarter last year, the business posted $0.15 earnings per share. The firm’s revenue was down 1.5% compared to the same quarter last year.
Resources Connection (RECN) opened at 15.35 on Tuesday. The company’s 50-day moving average price is $14.07 and its 200-day moving average price is $13.49. Resources Connection has a 12 month low of $12.05 and a 12 month high of $19.80. The stock has a market cap of $458.95 million, a P/E ratio of 31.85 and a beta of 1.18.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 16th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Wednesday, November 15th. Resources Connection’s dividend payout ratio (DPR) is presently 102.13%.
Hedge funds have recently bought and sold shares of the company. AXA acquired a new stake in shares of Resources Connection during the second quarter worth $1,062,000. Brandes Investment Partners LP boosted its holdings in shares of Resources Connection by 51.2% during the second quarter. Brandes Investment Partners LP now owns 364,565 shares of the business services provider’s stock worth $4,994,000 after purchasing an additional 123,466 shares during the last quarter. California Public Employees Retirement System boosted its holdings in shares of Resources Connection by 1.4% during the first quarter. California Public Employees Retirement System now owns 163,585 shares of the business services provider’s stock worth $2,740,000 after purchasing an additional 2,300 shares during the last quarter. NN Investment Partners Holdings N.V. boosted its holdings in shares of Resources Connection by 8.2% during the second quarter. NN Investment Partners Holdings N.V. now owns 52,140 shares of the business services provider’s stock worth $714,000 after purchasing an additional 3,955 shares during the last quarter. Finally, South Dakota Investment Council boosted its holdings in shares of Resources Connection by 78.8% during the second quarter. South Dakota Investment Council now owns 80,084 shares of the business services provider’s stock worth $1,097,000 after purchasing an additional 35,300 shares during the last quarter. Institutional investors and hedge funds own 81.88% of the company’s stock.
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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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