Resources Connection, Inc. (NASDAQ:RECN) Expected to Post Earnings of $0.13 Per Share

Wall Street analysts expect that Resources Connection, Inc. (NASDAQ:RECN) will announce earnings of $0.13 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Resources Connection’s earnings. The highest EPS estimate is $0.15 and the lowest is $0.10. Resources Connection reported earnings of $0.20 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 35%. The company is scheduled to issue its next earnings results after the market closes on Thursday, April 2nd.

On average, analysts expect that Resources Connection will report full year earnings of $0.97 per share for the current fiscal year, with EPS estimates ranging from $0.95 to $0.99. For the next financial year, analysts expect that the firm will report earnings of $1.01 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Resources Connection.

Resources Connection (NASDAQ:RECN) last released its earnings results on Thursday, January 2nd. The business services provider reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.08. The business had revenue of $184.51 million during the quarter, compared to the consensus estimate of $183.00 million. Resources Connection had a net margin of 4.52% and a return on equity of 11.74%. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.33 EPS.

Several brokerages have recently commented on RECN. BidaskClub downgraded shares of Resources Connection from a “sell” rating to a “strong sell” rating in a research report on Tuesday, February 11th. Zacks Investment Research raised shares of Resources Connection from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Wednesday.

In other news, CFO Jennifer Y. Ryu sold 1,586 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 862 shares of the company’s stock, valued at approximately $13,817.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 10.50% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Royce & Associates LP lifted its holdings in shares of Resources Connection by 30.6% in the 4th quarter. Royce & Associates LP now owns 2,669,581 shares of the business services provider’s stock worth $43,594,000 after purchasing an additional 624,945 shares in the last quarter. Palisade Capital Management LLC NJ lifted its holdings in shares of Resources Connection by 3.8% in the 4th quarter. Palisade Capital Management LLC NJ now owns 1,362,646 shares of the business services provider’s stock worth $22,252,000 after purchasing an additional 49,379 shares in the last quarter. River Road Asset Management LLC lifted its holdings in shares of Resources Connection by 11.5% in the 4th quarter. River Road Asset Management LLC now owns 1,039,727 shares of the business services provider’s stock worth $16,979,000 after purchasing an additional 107,470 shares in the last quarter. State Street Corp lifted its holdings in shares of Resources Connection by 5.1% in the 4th quarter. State Street Corp now owns 1,030,242 shares of the business services provider’s stock worth $16,824,000 after purchasing an additional 50,171 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings 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 purchasing an additional 6,090 shares in the last quarter. Institutional investors own 84.53% of the company’s stock.

Shares of RECN stock traded up $1.13 during trading hours on Friday, hitting $10.79. 194,357 shares of the company were exchanged, compared to its average volume of 182,056. The firm has a market cap of $309.70 million, a P/E 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 has a debt-to-equity ratio of 0.30, a quick ratio of 1.93 and a current ratio of 1.93. The company has a 50 day simple moving average of $12.40 and a two-hundred day simple moving average of $14.91.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Thursday, February 20th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 5.19%. The ex-dividend date of this dividend was Wednesday, February 19th. Resources Connection’s dividend payout ratio (DPR) is 54.37%.

About Resources Connection

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.

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