Resources Connection Inc. (RECN) Trading Down 2.7%
Resources Connection Inc. (NASDAQ:RECN) fell 2.7% during mid-day trading on Friday . The stock traded as low as $15.06 and last traded at $15.08, with a volume of 92,723 shares traded. The stock had previously closed at $15.50.
Several brokerages recently 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, June 9th. 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 target price on the stock.
The firm has a 50-day moving average of $15.13 and a 200-day moving average of $14.80. The firm has a market cap of $546.57 million and a price-to-earnings ratio of 18.62.
Resources Connection (NASDAQ:RECN) last posted its quarterly 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. The business earned $152.20 million during the quarter. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 EPS. Analysts predict that Resources Connection Inc. will post $0.82 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 21st. Stockholders of record on Wednesday, August 24th will be issued a $0.11 dividend. This is a boost from Resources Connection’s previous quarterly dividend of $0.10. The ex-dividend date is Monday, August 22nd. This represents a $0.44 annualized dividend and a dividend yield of 2.92%.
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 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 61,916 shares of the company’s stock, valued at approximately $1,012,000. Jennison Associates LLC owned approximately 0.17% of Resources Connection as of its most recent filing with the SEC.
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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