Resources Connection Inc. (RECN) Trading Down 2.7%
Resources Connection Inc. (NASDAQ:RECN) was down 2.7% on Friday . The stock traded as low as $15.06 and last traded at $15.08, with a volume of 92,723 shares changing hands. The stock had previously closed at $15.50.
Several equities research analysts recently weighed in on RECN shares. Zacks Investment Research raised shares of Resources Connection from a “sell” rating to a “hold” rating in a research report on Thursday, June 9th. 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 target for the company.
The company has a 50 day moving average price of $15.13 and a 200-day moving average price of $14.80. The company has a market capitalization of $546.57 million and a price-to-earnings ratio of 18.62.
Resources Connection (NASDAQ:RECN) last issued its earnings results on Thursday, July 14th. The company reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.02. The company earned $152.20 million during the quarter. During the same quarter in the prior year, the company earned $0.21 EPS. Resources Connection’s quarterly revenue was up 2.5% on a year-over-year basis. On average, analysts expect that Resources Connection Inc. will post $0.82 earnings per share for the current 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 given a $0.11 dividend. The ex-dividend date of this dividend is Monday, August 22nd. This is a positive change from Resources Connection’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a dividend yield of 2.92%.
An institutional investor recently bought a new position in Resources Connection stock. Jennison Associates LLC purchased a new stake in Resources Connection Inc. (NASDAQ:RECN) during the fourth quarter, according to its most recent filing with the SEC. The fund 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 as of its most recent SEC filing.
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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