Resources Connection Inc. (RECN) PT Set at $12.00 by Deutsche Bank AG
Resources Connection Inc. (NASDAQ:RECN) has been given a $12.00 price objective by equities research analysts at Deutsche Bank AG in a report issued on Thursday. The firm presently has a a “sell” rating on the stock. Deutsche Bank AG’s price objective would suggest a potential downside of 7.69% from the stock’s previous close.
Several other research analysts have also commented on the stock. JPMorgan Chase & Co. restated a “hold” rating on shares of Resources Connection in a research note on Thursday. Robert W. Baird lowered shares of Resources Connection from an “outperform” rating to a “neutral” rating in a research note on Thursday. Finally, Zacks Investment Research upgraded shares of Resources Connection from a “sell” rating to a “hold” rating in a research note on Thursday, September 15th.
Shares of Resources Connection (NASDAQ:RECN) opened at 13.00 on Thursday. The stock has a 50 day moving average of $14.68 and a 200 day moving average of $14.85. Resources Connection has a 52-week low of $12.30 and a 52-week high of $18.71. The company has a market cap of $471.19 million, a P/E ratio of 16.05 and a beta of 1.31.
Resources Connection (NASDAQ:RECN) last released its quarterly earnings data on Wednesday, October 5th. The company reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.01. The company earned $143.40 million during the quarter. Resources Connection had a net margin of 4.88% and a return on equity of 8.42%. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.19 EPS. On average, equities analysts anticipate that Resources Connection will post $0.82 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 21st. Investors of record on Wednesday, August 24th were issued a dividend of $0.11 per share. This is an increase from Resources Connection’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a dividend yield of 3.38%. The ex-dividend date was Monday, August 22nd. Resources Connection’s dividend payout ratio is currently 57.14%.
Several hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new stake in Resources Connection during the fourth quarter valued at about $8,547,000. TIAA CREF Investment Management LLC increased its stake in Resources Connection by 29.4% in the first quarter. TIAA CREF Investment Management LLC now owns 223,422 shares of the company’s stock valued at $3,476,000 after buying an additional 50,767 shares in the last quarter. BlackRock Group LTD increased its stake in Resources Connection by 5.2% in the first quarter. BlackRock Group LTD now owns 62,499 shares of the company’s stock valued at $974,000 after buying an additional 3,092 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Resources Connection by 11.2% in the first quarter. JPMorgan Chase & Co. now owns 287,890 shares of the company’s stock valued at $4,479,000 after buying an additional 28,946 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. purchased a new stake in Resources Connection during the first quarter valued at about $733,000. 87.39% of the stock is owned by institutional investors and hedge funds.
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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