Resources Connection, Inc. (RECN) Expected to Post Earnings of $0.15 Per Share

Wall Street analysts expect Resources Connection, Inc. (NASDAQ:RECN) to announce $0.15 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Resources Connection’s earnings. The lowest EPS estimate is $0.12 and the highest is $0.18. Resources Connection reported 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 company is expected to issue its next quarterly earnings report after the market closes on Wednesday, April 4th.

On average, analysts expect that Resources Connection will report full-year earnings of $0.82 per share for the current financial year, with EPS estimates ranging from $0.80 to $0.84. For the next financial year, analysts forecast that the business will post earnings of $0.99 per share, with EPS estimates ranging from $0.90 to $1.05. Zacks’ earnings per share averages are an average based on a survey of analysts that cover Resources Connection.

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

Several equities research analysts have issued reports on the company. TheStreet raised Resources Connection from a “c+” rating to a “b” rating in a report on Thursday, January 4th. Zacks Investment Research raised Resources Connection from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Wednesday, February 21st. Finally, BidaskClub raised Resources Connection from a “hold” rating to a “buy” rating in a research note on Thursday, January 11th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Resources Connection has an average rating of “Hold” and a consensus price target of $15.50.

Shares of RECN stock traded up $0.45 during mid-day trading on Friday, hitting $16.70. The stock had a trading volume of 474,845 shares, compared to its average volume of 92,681. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.19. The company has a market cap of $523.96, a PE ratio of 28.79 and a beta of 1.20. Resources Connection has a one year low of $12.05 and a one year high of $17.25.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Thursday, February 15th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Wednesday, February 14th. Resources Connection’s dividend payout ratio is currently 82.76%.

Several institutional investors have recently bought and sold shares of the stock. Aperio Group LLC purchased a new stake in Resources Connection in the 4th quarter worth approximately $157,000. SG Americas Securities LLC acquired a new position in shares of Resources Connection in the third quarter worth $153,000. Municipal Employees Retirement System of Michigan grew its stake in shares of 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. Russell Investments Group Ltd. acquired a new position in shares of Resources Connection in the third quarter worth $164,000. Finally, Algert Global LLC acquired a new position in shares of Resources Connection in the fourth quarter worth $184,000. 80.94% of the stock is currently owned by institutional investors.

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Resources Connection Company Profile

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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