Several other analysts have also issued reports on RECN. Zacks Investment Research upgraded shares of Resources Connection from a sell rating to a hold rating in a report on Thursday, September 15th. Deutsche Bank AG began coverage on shares of Resources Connection in a report on Wednesday, August 17th. They issued a sell rating and a $13.00 price objective on the stock.
Resources Connection (NASDAQ:RECN) traded down 0.038% during mid-day trading on Thursday, hitting $13.075. 180,108 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $14.75 and its 200-day moving average price is $14.87. The stock has a market cap of $473.90 million, a PE ratio of 16.142 and a beta of 1.31. Resources Connection has a one year low of $12.30 and a one year high of $18.71.
Resources Connection (NASDAQ:RECN) last posted its quarterly earnings results on Wednesday, October 5th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.16 by $0.01. Resources Connection had a return on equity of 8.42% and a net margin of 4.88%. The company had revenue of $143.40 million for the quarter. During the same quarter in the previous year, the company posted $0.19 EPS. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. On average, analysts forecast that Resources Connection will post $0.82 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 21st. Investors of record on Wednesday, August 24th were issued a $0.11 dividend. This is a positive change from Resources Connection’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend was Monday, August 22nd. Resources Connection’s payout ratio is 57.14%.
Hedge funds have recently modified their holdings of the stock. Walleye Trading LLC increased its position 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 purchased a new position in Resources Connection during the second quarter valued at $106,000. BlackRock Inc. increased its position 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 position 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 purchased a new position in Resources Connection during the second quarter valued at $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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