RCM Technologies (NASDAQ:RCMT) Posts Earnings Results, Beats Expectations By $0.02 EPS

RCM Technologies (NASDAQ:RCMT – Get Rating) posted its quarterly earnings data on Thursday. The business services provider reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02, Yahoo Finance reports. RCM Technologies had a net margin of 7.88% and a return on equity of 61.19%. The company had revenue of $70.22 million for the quarter, compared to the consensus estimate of $67.05 million.

RCM Technologies Price Performance

Shares of RCMT opened at $12.85 on Friday. The company has a market cap of $126.47 million, a price-to-earnings ratio of 6.43 and a beta of 0.87. RCM Technologies has a 1-year low of $7.36 and a 1-year high of $28.82. The company’s fifty day simple moving average is $13.63 and its 200 day simple moving average is $14.84. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.04.

Hedge Funds Weigh In On RCM Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in RCM Technologies by 2.2% during the first quarter. Dimensional Fund Advisors LP now owns 539,317 shares of the business services provider’s stock worth $5,318,000 after buying an additional 11,603 shares during the last quarter. Marshall Wace LLP acquired a new position in RCM Technologies during the third quarter worth $1,497,000. Millennium Management LLC increased its holdings in RCM Technologies by 382.3% during the fourth quarter. Millennium Management LLC now owns 54,572 shares of the business services provider’s stock worth $673,000 after buying an additional 43,257 shares during the last quarter. Man Group plc boosted its position in RCM Technologies by 72.2% during the fourth quarter. Man Group plc now owns 37,877 shares of the business services provider’s stock worth $467,000 after purchasing an additional 15,877 shares during the period. Finally, State Street Corp boosted its position in RCM Technologies by 3.6% during the first quarter. State Street Corp now owns 25,955 shares of the business services provider’s stock worth $256,000 after purchasing an additional 900 shares during the period. 40.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of RCM Technologies in a report on Thursday. They set a “buy” rating on the stock.

RCM Technologies Company Profile

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RCM Technologies, Inc engages in the provision of business and technology solutions. It operates through the following segments: Engineering, Specialty Health Care, and Information Technology. The Engineering segment offers a portfolio of engineering and design services across energy services, process and industrial, and aerospace sectors.