Resources Connection Inc. (RECN) Set to Announce Quarterly Earnings on Wednesday
Resources Connection Inc. (NASDAQ:RECN) is scheduled to be announcing its earnings results after the market closes on Wednesday, October 5th. Analysts expect the company to announce earnings of $0.16 per share for the quarter.
Resources Connection (NASDAQ:RECN) last posted its quarterly earnings data on Thursday, July 14th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.21 by $0.02. The firm earned $152.20 million during the quarter. Resources Connection had a net margin of 5.09% and a return on equity of 8.86%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 EPS. On average, analysts expect Resources Connection to post $0.82 EPS for the current fiscal year and $0.97 EPS for the next fiscal year.
Resources Connection Inc. (NASDAQ:RECN) opened at 14.94 on Monday. The company has a market cap of $541.50 million, a price-to-earnings ratio of 18.44 and a beta of 1.27. Resources Connection Inc. has a 1-year low of $12.30 and a 1-year high of $18.71. The company’s 50 day moving average is $14.85 and its 200 day moving average is $14.88.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 21st. Investors of record on Wednesday, August 24th were given a dividend of $0.11 per share. This is a boost from Resources Connection’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a yield of 2.95%. The ex-dividend date was Monday, August 22nd. Resources Connection’s dividend payout ratio (DPR) is presently 54.32%.
Several equities research analysts recently issued reports on RECN shares. Deutsche Bank AG started coverage on shares of Resources Connection in a research report on Wednesday, August 17th. They set a “sell” rating and a $13.00 price objective for the company. Zacks Investment Research upgraded shares of Resources Connection from a “sell” rating to a “hold” rating in a research report on Thursday, June 9th.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Investment Management LLC raised its position in shares of Resources Connection by 7.7% in the second quarter. BlackRock Investment Management LLC now owns 174,056 shares of the company’s stock valued at $2,573,000 after buying an additional 12,412 shares during the period. BlackRock Inc. raised its position in shares of 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 during the period. BlackRock Fund Advisors raised its position in shares of Resources Connection by 0.9% in the second quarter. BlackRock Fund Advisors now owns 2,401,325 shares of the company’s stock valued at $35,492,000 after buying an additional 21,719 shares during the period. BlackRock Group LTD raised its position in shares of Resources Connection by 7.7% in the second quarter. BlackRock Group LTD now owns 67,324 shares of the company’s stock valued at $995,000 after buying an additional 4,825 shares during the period. Finally, TFS Capital LLC raised its position in shares of Resources Connection by 36.8% in the second quarter. TFS Capital LLC now owns 16,386 shares of the company’s stock valued at $242,000 after buying an additional 4,406 shares during the period. 87.39% of the stock is owned by institutional investors.
About Resources Connection
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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