The Hackett Group, Inc. (HCKT) Expected to Announce Quarterly Sales of $70.66 Million
Analysts expect The Hackett Group, Inc. (NASDAQ:HCKT) to report $70.66 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for The Hackett Group’s earnings, with estimates ranging from $70.20 million to $71.00 million. The Hackett Group reported sales of $74.12 million during the same quarter last year, which indicates a negative year over year growth rate of 4.7%. The business is scheduled to issue its next quarterly earnings results after the market closes on Tuesday, November 7th.
According to Zacks, analysts expect that The Hackett Group will report full year sales of $70.66 million for the current year, with estimates ranging from $283.24 million to $287.50 million. For the next year, analysts forecast that the company will post sales of $301.19 million per share, with estimates ranging from $296.46 million to $309.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover 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 earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 27.74% and a net margin of 8.42%. The business’s revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 EPS.
A number of research firms recently issued reports on HCKT. BidaskClub raised The Hackett Group from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Zacks Investment Research raised The Hackett Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The Hackett Group has an average rating of “Hold” and a consensus target price of $19.00.
Shares of The Hackett Group (NASDAQ HCKT) opened at $14.96 on Monday. The Hackett Group has a fifty-two week low of $13.24 and a fifty-two week high of $20.69. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $431.89, a P/E ratio of 19.68, a P/E/G ratio of 1.25 and a beta of 0.81.
The Hackett Group declared that its Board of Directors has authorized a share repurchase program on Tuesday, August 8th that allows the company to buyback $5.00 million in outstanding shares. This buyback authorization allows the business services provider to buy up to 17% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
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Several institutional investors have recently modified their holdings of HCKT. Swiss National Bank lifted its stake in shares of The Hackett Group by 5.3% during the 1st quarter. Swiss National Bank now owns 39,992 shares of the business services provider’s stock worth $779,000 after purchasing an additional 2,000 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of The Hackett Group by 29.3% during the 1st quarter. JPMorgan Chase & Co. now owns 126,832 shares of the business services provider’s stock worth $2,472,000 after purchasing an additional 28,746 shares during the period. American International Group Inc. lifted its stake in shares of The Hackett Group by 7.1% during the 1st quarter. American International Group Inc. now owns 13,827 shares of the business services provider’s stock worth $269,000 after purchasing an additional 918 shares during the period. Teachers Advisors LLC lifted its stake in shares of The Hackett Group by 15.4% during the 1st quarter. Teachers Advisors LLC now owns 131,550 shares of the business services provider’s stock worth $2,564,000 after purchasing an additional 17,554 shares during the period. Finally, TIAA CREF Investment Management LLC lifted its stake in shares of The Hackett Group by 18.5% during the 1st quarter. TIAA CREF Investment Management LLC now owns 280,731 shares of the business services provider’s stock worth $5,471,000 after purchasing an additional 43,773 shares during the period. 75.35% of the stock is currently owned by institutional investors.
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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