Other analysts have also recently issued research reports about the company. Zacks Investment Research raised Resources Connection from a sell rating to a hold rating in a research report on Thursday, June 9th. JPMorgan Chase & Co. reaffirmed a hold rating on shares of Resources Connection in a research report on Thursday, October 6th. Finally, Robert W. Baird cut Resources Connection from an outperform rating to a neutral rating in a research report on Thursday, October 6th.
Shares of Resources Connection (NASDAQ:RECN) opened at 13.23 on Thursday. The stock has a 50 day moving average price of $14.63 and a 200 day moving average price of $14.84. The stock has a market capitalization of $478.50 million, a P/E ratio of 17.16 and a beta of 1.31. Resources Connection has a 12 month low of $12.30 and a 12 month high of $18.71.
Resources Connection (NASDAQ:RECN) last released its quarterly earnings data on Wednesday, October 5th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by $0.01. The firm had revenue of $143.40 million for the quarter. Resources Connection had a net margin of 4.88% and a return on equity of 8.42%. The company’s revenue was down 3.3% on a year-over-year basis. During the same period last year, the firm posted $0.19 earnings per share. On average, analysts anticipate that Resources Connection will post $0.82 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 21st. Stockholders of record on Wednesday, August 24th were paid a $0.11 dividend. The ex-dividend date of this dividend was Monday, August 22nd. This is a positive change from Resources Connection’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.33%. Resources Connection’s payout ratio is presently 57.14%.
Several institutional investors have recently bought and sold shares of the company. Suntrust Banks Inc. raised its position in Resources Connection by 1.7% in the second quarter. Suntrust Banks Inc. now owns 21,715 shares of the company’s stock worth $320,000 after buying an additional 372 shares during the last quarter. Anchor Capital Advisors LLC raised its position in Resources Connection by 0.8% in the second quarter. Anchor Capital Advisors LLC now owns 61,801 shares of the company’s stock worth $913,000 after buying an additional 465 shares during the last quarter. Thrivent Financial for Lutherans raised its position in Resources Connection by 0.4% in the second quarter. Thrivent Financial for Lutherans now owns 138,050 shares of the company’s stock worth $2,041,000 after buying an additional 500 shares during the last quarter. ClariVest Asset Management LLC raised its position in Resources Connection by 0.7% in the second quarter. ClariVest Asset Management LLC now owns 124,095 shares of the company’s stock worth $1,835,000 after buying an additional 900 shares during the last quarter. Finally, Strs Ohio raised its position in Resources Connection by 4.1% in the second quarter. Strs Ohio now owns 48,400 shares of the company’s stock worth $715,000 after buying an additional 1,900 shares during the last quarter. Institutional investors and hedge funds own 87.39% of the company’s stock.
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). It provides consulting and business initiative support services to its global client base in the areas of accounting; finance; corporate governance, risk and compliance management; corporate advisory, strategic communications and restructuring; information management; human capital; supply chain management; healthcare solutions, and legal and regulatory.
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