Brokerages expect Resources Connection, Inc. (NASDAQ:RECN) to post $168.00 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Resources Connection’s earnings, with estimates ranging from $167.17 million to $168.82 million. Resources Connection posted sales of $179.50 million in the same quarter last year, which suggests a negative year-over-year growth rate of 6.4%. The firm is expected to announce its next quarterly earnings results after the market closes on Thursday, April 2nd.
On average, analysts expect that Resources Connection will report full-year sales of $709.68 million for the current year, with estimates ranging from $708.15 million to $711.20 million. For the next fiscal year, analysts forecast that the firm will report sales of $721.09 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Resources Connection.
Resources Connection (NASDAQ:RECN) last posted its earnings results on Thursday, January 2nd. The business services provider reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.08. The firm had revenue of $184.51 million during the quarter, compared to analyst estimates of $183.00 million. Resources Connection had a net margin of 4.52% and a return on equity of 11.74%. Resources Connection’s revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.33 EPS.
Resources Connection stock traded up $1.13 during midday trading on Monday, reaching $10.79. 194,357 shares of the stock traded hands, compared to its average volume of 182,056. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.30. The firm has a fifty day moving average price of $12.40 and a two-hundred day moving average price of $14.91. The firm has a market cap of $309.70 million, a price-to-earnings ratio of 10.79 and a beta of 1.28. Resources Connection has a fifty-two week low of $8.66 and a fifty-two week high of $17.93.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Thursday, February 20th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date was Wednesday, February 19th. Resources Connection’s payout ratio is 54.37%.
In other Resources Connection news, CFO Jennifer Y. Ryu sold 1,586 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $16.03, for a total transaction of $25,423.58. Following the completion of the transaction, the chief financial officer now directly owns 862 shares of the company’s stock, valued at approximately $13,817.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 10.50% of the company’s stock.
Several large investors have recently modified their holdings of the company. Procyon Private Wealth Partners LLC acquired a new stake in shares of Resources Connection in the 4th quarter worth approximately $31,000. Geode Capital Management LLC lifted its stake in shares of Resources Connection by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 690,086 shares of the business services provider’s stock worth $11,269,000 after acquiring an additional 6,090 shares during the period. Man Group plc lifted its stake in shares of Resources Connection by 68.1% in the 4th quarter. Man Group plc now owns 32,131 shares of the business services provider’s stock worth $525,000 after acquiring an additional 13,013 shares during the period. Zebra Capital Management LLC lifted its stake in shares of Resources Connection by 54.7% in the 4th quarter. Zebra Capital Management LLC now owns 16,871 shares of the business services provider’s stock worth $276,000 after acquiring an additional 5,968 shares during the period. Finally, Marshall Wace North America L.P. lifted its stake in shares of Resources Connection by 157.8% in the 4th quarter. Marshall Wace North America L.P. now owns 105,642 shares of the business services provider’s stock worth $1,726,000 after acquiring an additional 64,666 shares during the period. 84.53% of the stock is owned by institutional investors.
Resources Connection Company Profile
Resources Connection, Inc provides business consulting services under the Resources Global Professionals name in North America, Europe, and the Asia Pacific. The company offers process transformation and optimization, financial reporting and analysis, technical and operational accounting, and merger and acquisition due diligence and integration services; new accounting standards implementation and remediation support services; and audit readiness, and preparation and response services.
Featured Story: How is an ETF different from a mutual fund?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Resources Connection Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Resources Connection and related companies with MarketBeat.com's FREE daily email newsletter.