RCM Technologies (NASDAQ:RCMT) Issues Quarterly Earnings Results, Beats Estimates By $0.12 EPS

RCM Technologies (NASDAQ:RCMT) issued its quarterly earnings data on Thursday. The business services provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.41 by $0.12, FiscalAI reports. RCM Technologies had a net margin of 5.13% and a return on equity of 37.92%. The business had revenue of $73.40 million during the quarter, compared to the consensus estimate of $78.29 million.

RCM Technologies Trading Down 9.5%

NASDAQ RCMT traded down $3.32 on Thursday, reaching $31.50. The company had a trading volume of 89,041 shares, compared to its average volume of 66,051. The firm has a market cap of $223.97 million, a price-to-earnings ratio of 13.70 and a beta of 0.48. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.92 and a quick ratio of 1.92. RCM Technologies has a fifty-two week low of $17.26 and a fifty-two week high of $43.68. The business has a 50 day moving average of $38.68 and a two-hundred day moving average of $29.10.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RCMT shares. Benchmark raised their price objective on RCM Technologies from $36.00 to $45.00 and gave the company a “buy” rating in a report on Monday, August 17th. Wall Street Zen raised RCM Technologies from a “hold” rating to a “strong-buy” rating in a research note on Sunday, August 16th. B. Riley Financial raised their price objective on shares of RCM Technologies from $40.00 to $45.00 and gave the company a “buy” rating in a report on Monday, August 17th. Weiss Ratings lowered shares of RCM Technologies from a “buy (b)” rating to a “hold (c+)” rating in a report on Monday. Finally, Zacks Research downgraded shares of RCM Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 13th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $45.00.

Insiders Place Their Bets

In other RCM Technologies news, Chairman Bradley Vizi sold 74,719 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $38.86, for a total value of $2,903,580.34. Following the sale, the chairman owned 1,402,477 shares in the company, valued at approximately $54,500,256.22. The trade was a 5.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michael Saks sold 11,792 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $33.56, for a total value of $395,739.52. Following the completion of the sale, the insider owned 99,307 shares in the company, valued at $3,332,742.92. This trade represents a 10.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 219,997 shares of company stock valued at $8,238,837. 28.00% of the stock is currently owned by company insiders.

About RCM Technologies

RCM Technologies, Inc. provides business and technology solutions to clients in the United States and other markets. Its services span engineering, specialty health care and life sciences, combining professional expertise with project-based and workforce services. The company’s engineering work supports sectors such as aerospace and defense, energy, and industrial manufacturing. Its specialty health care business supplies clinical professionals and related services, while its life sciences business supports pharmaceutical, biotechnology and medical-device organizations with technical and regulatory expertise.