Analysts expect Resources Connection, Inc. (NASDAQ:RECN) to post earnings of $0.22 per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Resources Connection’s earnings, with the highest EPS estimate coming in at $0.28 and the lowest estimate coming in at $0.19. Resources Connection posted earnings of $0.23 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 4.3%. The business is expected to report its next quarterly earnings report on Thursday, July 13th.
According to Zacks, analysts expect that Resources Connection will report full year earnings of $0.63 per share for the current fiscal year, with EPS estimates ranging from $0.60 to $0.68. For the next financial year, analysts forecast that the company will report earnings of $0.77 per share, with EPS estimates ranging from $0.67 to $0.84. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Resources Connection.
Resources Connection (NASDAQ:RECN) last announced its quarterly earnings results on Wednesday, April 5th. The business services provider reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by $0.05. Resources Connection had a return on equity of 8.55% and a net margin of 4.40%. The business had revenue of $143.80 million for the quarter, compared to analysts’ expectations of $145.88 million. During the same period last year, the company posted $0.16 earnings per share. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis.
Separately, Zacks Investment Research lowered shares of Resources Connection from a “hold” rating to a “sell” rating in a research report on Saturday, April 8th.
Shares of Resources Connection (NASDAQ:RECN) opened at 13.50 on Friday. The stock has a market capitalization of $400.32 million, a PE ratio of 20.90 and a beta of 1.25. The company’s 50-day moving average is $14.61 and its 200-day moving average is $16.27. Resources Connection has a 12 month low of $12.41 and a 12 month high of $19.80.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, May 18th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 3.25%. The ex-dividend date is Tuesday, May 16th. Resources Connection’s dividend payout ratio is currently 62.86%.
Institutional investors have recently made changes to their positions in the stock. Alambic Investment Management L.P. increased its position in shares of Resources Connection by 5.6% in the third quarter. Alambic Investment Management L.P. now owns 80,883 shares of the business services provider’s stock valued at $1,208,000 after buying an additional 4,260 shares in the last quarter. First Trust Advisors LP increased its position in shares of Resources Connection by 2.8% in the third quarter. First Trust Advisors LP now owns 19,702 shares of the business services provider’s stock worth $294,000 after buying an additional 545 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Resources Connection by 0.4% in the third quarter. Bank of New York Mellon Corp now owns 523,108 shares of the business services provider’s stock worth $7,815,000 after buying an additional 1,913 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Resources Connection by 44.7% in the third quarter. JPMorgan Chase & Co. now owns 346,295 shares of the business services provider’s stock worth $5,173,000 after buying an additional 107,034 shares in the last quarter. Finally, BlackRock Fund Advisors increased its position in shares of Resources Connection by 8.8% in the third quarter. BlackRock Fund Advisors now owns 2,611,784 shares of the business services provider’s stock worth $39,020,000 after buying an additional 210,459 shares in the last quarter. 98.69% of the stock is owned by hedge funds and other institutional investors.
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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