Analysts Anticipate Resources Connection, Inc. (RECN) Will Announce Earnings of $0.15 Per Share

Wall Street brokerages expect that Resources Connection, Inc. (NASDAQ:RECN) will post earnings per share (EPS) of $0.15 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Resources Connection’s earnings, with estimates ranging from $0.12 to $0.18. Resources Connection posted earnings of $0.09 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 66.7%. The business is expected to issue its next quarterly earnings results on Wednesday, April 4th.

According to Zacks, analysts expect that Resources Connection will report full year earnings of $0.83 per share for the current fiscal year, with EPS estimates ranging from $0.80 to $0.85. For the next year, analysts anticipate that the business will report earnings of $1.01 per share, with EPS estimates ranging from $0.90 to $1.08. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Resources Connection.

Resources Connection (NASDAQ:RECN) last issued its quarterly earnings data on Wednesday, January 3rd. The business services provider reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.05. The firm had revenue of $156.70 million during the quarter, compared to analyst estimates of $152.91 million. Resources Connection had a return on equity of 8.25% and a net margin of 2.98%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.26 earnings per share.

A number of research analysts have recently weighed in on the company. Zacks Investment Research lowered Resources Connection from a “buy” rating to a “hold” rating in a research report on Friday. BidaskClub upgraded Resources Connection from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. TheStreet upgraded Resources Connection from a “c+” rating to a “b” rating in a research report on Thursday, January 4th. JPMorgan Chase & Co. lowered Resources Connection from a “neutral” rating to an “underweight” rating and set a $16.00 price target for the company. in a research report on Thursday, January 4th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $15.00 price target on shares of Resources Connection in a research report on Friday, November 10th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Resources Connection currently has an average rating of “Hold” and an average target price of $15.25.

Shares of Resources Connection (NASDAQ RECN) traded down $0.05 during trading on Monday, hitting $14.95. The stock had a trading volume of 113,457 shares, compared to its average volume of 149,916. The stock has a market capitalization of $470.62, a price-to-earnings ratio of 25.78 and a beta of 1.21. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.19. Resources Connection has a 52-week low of $12.05 and a 52-week high of $17.40.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, February 15th will be given a $0.12 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $0.48 annualized dividend and a yield of 3.21%. Resources Connection’s dividend payout ratio is currently 82.76%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new position in Resources Connection in the third quarter worth about $153,000. Municipal Employees Retirement System of Michigan grew its position in Resources Connection by 58.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 11,130 shares of the business services provider’s stock worth $155,000 after acquiring an additional 4,120 shares in the last quarter. Aperio Group LLC purchased a new position in Resources Connection in the fourth quarter worth about $157,000. Russell Investments Group Ltd. purchased a new position in Resources Connection in the third quarter worth about $164,000. Finally, Jane Street Group LLC purchased a new position in Resources Connection in the third quarter worth about $171,000. Institutional investors own 77.54% 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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