Equities analysts forecast that Resources Connection, Inc. (NASDAQ:RECN) will announce sales of $179.97 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Resources Connection’s earnings. The highest sales estimate is $180.28 million and the lowest is $179.66 million. Resources Connection reported sales of $148.62 million during the same quarter last year, which suggests a positive year over year growth rate of 21.1%. The company is expected to announce its next earnings results on Thursday, July 19th.

According to Zacks, analysts expect that Resources Connection will report full year sales of $650.31 million for the current fiscal year, with estimates ranging from $650.00 million to $650.62 million. For the next fiscal year, analysts forecast that the business will report sales of $705.51 million per share, with estimates ranging from $705.00 million to $706.02 million. Zacks’ sales calculations are an average based on a survey of research analysts that cover Resources Connection.

Resources Connection (NASDAQ:RECN) last issued its earnings results on Wednesday, April 4th. The business services provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04. The business had revenue of $172.40 million for the quarter, compared to analyst estimates of $170.50 million. Resources Connection had a net margin of 3.12% and a return on equity of 9.15%. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.09 EPS.

RECN has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Resources Connection from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research note on Tuesday, January 9th. JPMorgan Chase lowered shares of Resources Connection from a “neutral” rating to an “underweight” rating and set a $16.00 target price on the stock. in a research note on Thursday, January 4th. TheStreet upgraded shares of Resources Connection from a “c+” rating to a “b” rating in a research note on Thursday, January 4th. Finally, BidaskClub upgraded shares of Resources Connection from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $16.00.

In related news, Director Michael H. Wargotz sold 6,200 shares of the stock in a transaction dated Monday, April 9th. The shares were sold at an average price of $15.36, for a total transaction of $95,232.00. Following the sale, the director now owns 29,073 shares in the company, valued at $446,561.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 11.80% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RECN. Brandes Investment Partners LP grew its position in Resources Connection by 133.4% in the 4th quarter. Brandes Investment Partners LP now owns 889,448 shares of the business services provider’s stock worth $13,742,000 after purchasing an additional 508,340 shares during the last quarter. Greenhouse Funds LLLP bought a new position in Resources Connection in the 4th quarter worth about $3,513,000. Amundi Pioneer Asset Management Inc. bought a new position in Resources Connection in the 4th quarter worth about $3,184,000. BlackRock Inc. grew its position in Resources Connection by 5.4% in the 4th quarter. BlackRock Inc. now owns 3,866,684 shares of the business services provider’s stock worth $59,740,000 after purchasing an additional 198,853 shares during the last quarter. Finally, AXA grew its position in Resources Connection by 60.2% in the 4th quarter. AXA now owns 190,722 shares of the business services provider’s stock worth $2,947,000 after purchasing an additional 71,678 shares during the last quarter. Hedge funds and other institutional investors own 80.21% of the company’s stock.

Shares of Resources Connection stock traded up $0.05 during trading on Monday, reaching $15.80. The company had a trading volume of 22,499 shares, compared to its average volume of 141,605. The firm has a market cap of $501.10, a PE ratio of 21.20 and a beta of 1.14. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.30 and a current ratio of 2.30. Resources Connection has a fifty-two week low of $12.05 and a fifty-two week high of $17.00.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 14th. Investors of record on Thursday, May 17th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.04%. Resources Connection’s dividend payout ratio (DPR) is 75.00%.

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About Resources Connection

Resources Connection, Inc provides agile consulting services in North America, Europe, and the Asia Pacific. The company offers finance and accounting services, including process transformation and optimization, financial reporting and analysis, technical and operational accounting, merger and acquisition due diligence and integration, audit readiness, preparation and response, implementation of new accounting standards, and remediation support.

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