Resources Connection Inc. (NASDAQ:RECN) announced its earnings results on Wednesday. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.16 by $0.01. The business had revenue of $143.40 million for the quarter. Resources Connection had a return on equity of 8.86% and a net margin of 5.09%. The business’s revenue was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.19 EPS.
Resources Connection (NASDAQ:RECN) opened at 13.08 on Friday. The stock’s 50 day moving average price is $14.75 and its 200 day moving average price is $14.86. The firm has a market cap of $474.08 million, a price-to-earnings ratio of 16.15 and a beta of 1.31. Resources Connection has a 52 week low of $12.30 and a 52 week high of $18.71.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 21st. Stockholders of record on Wednesday, August 24th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 3.36%. The ex-dividend date was Monday, August 22nd. This is a positive change from Resources Connection’s previous quarterly dividend of $0.10. Resources Connection’s dividend payout ratio is 54.32%.
Several analysts have recently commented on RECN shares. Zacks Investment Research upgraded Resources Connection from a “sell” rating to a “hold” rating in a report on Thursday, September 15th. Deutsche Bank AG started coverage on Resources Connection in a report on Wednesday, August 17th. They set a “sell” rating and a $13.00 target price on the stock. Robert W. Baird cut Resources Connection from an “outperform” rating to a “neutral” rating in a report on Thursday. Finally, JPMorgan Chase & Co. restated a “hold” rating on shares of Resources Connection in a report on Thursday.
Large investors have recently bought and sold shares of the company. Walleye Trading LLC increased its stake in Resources Connection by 136.7% in the second quarter. Walleye Trading LLC now owns 7,100 shares of the company’s stock valued at $105,000 after buying an additional 4,100 shares in the last quarter. Mason Street Advisors LLC bought a new stake in Resources Connection during the second quarter valued at about $106,000. BlackRock Inc. increased its stake in Resources Connection by 223.8% in the second quarter. BlackRock Inc. now owns 9,357 shares of the company’s stock valued at $139,000 after buying an additional 6,467 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in Resources Connection by 114.9% in the second quarter. BNP Paribas Arbitrage SA now owns 11,486 shares of the company’s stock valued at $170,000 after buying an additional 6,142 shares in the last quarter. Finally, Raymond James & Associates bought a new stake in Resources Connection during the second quarter valued at about $179,000. Hedge funds and other institutional investors 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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