$0.15 Earnings Per Share Expected for Resources Connection, Inc. (NASDAQ:RECN) This Quarter
Wall Street brokerages expect that Resources Connection, Inc. (NASDAQ:RECN) will report $0.15 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Resources Connection’s earnings, with estimates ranging from $0.14 to $0.15. Resources Connection posted earnings of $0.20 per share in the same quarter last year, which would indicate a negative year over year growth rate of 25%. The business is scheduled to announce its next earnings results on Wednesday, October 2nd.
According to Zacks, analysts expect that Resources Connection will report full year earnings of $1.05 per share for the current year, with EPS estimates ranging from $1.03 to $1.06. For the next financial year, analysts expect that the firm will post earnings of $1.11 per share. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that follow Resources Connection.
Resources Connection (NASDAQ:RECN) last issued its quarterly earnings results on Thursday, July 18th. The business services provider reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.02. The company had revenue of $182.10 million during the quarter, compared to analysts’ expectations of $182.44 million. Resources Connection had a net margin of 4.32% and a return on equity of 11.96%. The business’s quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the business earned $0.27 EPS.
Shares of RECN traded up $0.07 during mid-day trading on Tuesday, hitting $16.92. 116,200 shares of the company’s stock were exchanged, compared to its average volume of 175,985. The firm has a market capitalization of $536.95 million, a P/E ratio of 16.43 and a beta of 1.17. Resources Connection has a 52 week low of $12.72 and a 52 week high of $19.50. The stock has a 50-day moving average of $16.60. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.10 and a current ratio of 2.10.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, August 22nd will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend is Wednesday, August 21st. This is an increase from Resources Connection’s previous quarterly dividend of $0.13. Resources Connection’s dividend payout ratio is presently 50.49%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio boosted its holdings in shares of Resources Connection by 104.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,867 shares of the business services provider’s stock valued at $30,000 after buying an additional 954 shares during the last quarter. Investors Research Corp acquired a new stake in shares of Resources Connection in the 1st quarter valued at approximately $83,000. BNP Paribas Arbitrage SA boosted its holdings in shares of Resources Connection by 134.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 6,878 shares of the business services provider’s stock valued at $114,000 after buying an additional 3,941 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its holdings in shares of Resources Connection by 451.8% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 10,296 shares of the business services provider’s stock valued at $146,000 after buying an additional 8,430 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Resources Connection in the 2nd quarter valued at approximately $185,000. 82.23% of the stock is owned by institutional investors.
Resources Connection Company Profile
Resources Connection, Inc provides business consulting services under the Resources Global Professionals name in North America, Europe, and the Asia Pacific. The company offers process transformation and optimization, financial reporting and analysis, technical and operational accounting, and merger and acquisition due diligence and integration services; new accounting standards implementation and remediation support services; and audit readiness, and preparation and response services.
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