Resources Connection Inc. (RECN) Stock Price Down 1.3%
Shares of Resources Connection Inc. (NASDAQ:RECN) dropped 1.3% during mid-day trading on Thursday . The stock traded as low as $15.01 and last traded at $15.12, with a volume of 62,660 shares changing hands. The stock had previously closed at $15.32.
RECN has been the topic of several recent research reports. Zacks Investment Research downgraded Resources Connection from a “hold” rating to a “sell” rating in a research report on Tuesday, July 19th. Deutsche Bank AG started coverage on Resources Connection in a research report on Wednesday. They set a “sell” rating and a $13.00 target price on the stock.
The firm has a 50-day moving average of $15.04 and a 200-day moving average of $14.77. The firm has a market cap of $554.19 million and a PE ratio of 18.88.
Resources Connection (NASDAQ:RECN) last posted its earnings results on Thursday, July 14th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.21 by $0.02. During the same quarter in the prior year, the company posted $0.21 EPS. The business earned $152.20 million during the quarter. Resources Connection’s revenue for the quarter was up 2.5% compared to the same quarter last year. Analysts predict that Resources Connection Inc. will post $0.83 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 21st. Stockholders of record on Wednesday, August 24th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.88%. The ex-dividend date is Monday, August 22nd. This is a positive change from Resources Connection’s previous quarterly dividend of $0.10.
A hedge fund recently bought a new stake in Resources Connection stock. Jennison Associates LLC purchased a new stake in shares of Resources Connection Inc. (NASDAQ:RECN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 61,916 shares of the company’s stock, valued at approximately $1,012,000. Jennison Associates LLC owned about 0.17% of Resources Connection at the end of the most recent quarter.
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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