Resources Connection Inc. (RECN) Shares Down 1.3%
Resources Connection Inc. (NASDAQ:RECN) shares were down 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. The stock had previously closed at $15.32.
Several research analysts recently issued reports on RECN shares. Zacks Investment Research raised Resources Connection from a “sell” rating to a “hold” rating in a research note on Thursday, June 9th. Deutsche Bank AG started coverage on Resources Connection in a research note on Wednesday. They issued a “sell” rating and a $13.00 price objective on the stock.
The stock’s 50 day moving average is $15.05 and its 200 day moving average is $14.77. The company has a market cap of $551.29 million and a price-to-earnings ratio of 18.78.
Resources Connection (NASDAQ:RECN) last released its earnings results on Thursday, July 14th. The company reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.02. During the same quarter last year, the business earned $0.21 earnings per share. The business earned $152.20 million during the quarter. Resources Connection’s quarterly revenue was up 2.5% on a year-over-year basis. Equities analysts forecast that Resources Connection Inc. will post $0.83 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 21st. Shareholders of record on Wednesday, August 24th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 2.89%. This is a boost from Resources Connection’s previous quarterly dividend of $0.10. The ex-dividend date is Monday, August 22nd.
A hedge fund recently bought a new stake in Resources Connection stock. Jennison Associates LLC bought a new position in Resources Connection Inc. (NASDAQ:RECN) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 61,916 shares of the company’s stock, valued at approximately $1,012,000. Jennison Associates LLC owned 0.17% of Resources Connection at the end of the most recent reporting period.
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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