FY2018 EPS Estimates for The Hackett Group, Inc. Decreased by Barrington Research (HCKT)
The Hackett Group, Inc. (NASDAQ:HCKT) – Equities researchers at Barrington Research cut their FY2018 earnings per share estimates for The Hackett Group in a report issued on Wednesday. Barrington Research analyst V. Colicchio now anticipates that the business services provider will post earnings of $0.90 per share for the year, down from their prior estimate of $0.92.
The Hackett Group (NASDAQ:HCKT) last announced its quarterly earnings results on Tuesday, November 7th. The business services provider reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.01. The company had revenue of $71.50 million during the quarter, compared to analyst estimates of $70.66 million. The Hackett Group had a return on equity of 26.10% and a net margin of 8.42%. The firm’s revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 earnings per share.
Other equities research analysts have also issued reports about the company. SunTrust Banks, Inc. restated a “buy” rating and set a $17.00 price target on shares of The Hackett Group in a research note on Friday. Roth Capital upgraded The Hackett Group from a “neutral” rating to a “buy” rating and upped their price target for the stock from $16.00 to $20.00 in a research note on Thursday. BidaskClub upgraded The Hackett Group from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Finally, Zacks Investment Research upgraded The Hackett Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The Hackett Group presently has an average rating of “Hold” and a consensus price target of $18.33.
Shares of The Hackett Group (NASDAQ:HCKT) opened at $15.29 on Monday. The company has a market capitalization of $438.15, a PE ratio of 20.39, a price-to-earnings-growth ratio of 1.27 and a beta of 0.81. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.68 and a current ratio of 1.68. The Hackett Group has a 12 month low of $13.24 and a 12 month high of $20.69.
Several hedge funds and other institutional investors have recently modified their holdings of HCKT. SG Americas Securities LLC purchased a new stake in shares of The Hackett Group in the second quarter worth about $116,000. Victory Capital Management Inc. boosted its position in shares of The Hackett Group by 17.6% in the second quarter. Victory Capital Management Inc. now owns 7,522 shares of the business services provider’s stock worth $117,000 after buying an additional 1,127 shares during the period. Mountain Capital Investment Advisors Inc purchased a new stake in shares of The Hackett Group in the second quarter worth about $124,000. Frontier Wealth Management LLC purchased a new stake in shares of The Hackett Group in the second quarter worth about $171,000. Finally, Voya Investment Management LLC purchased a new stake in shares of The Hackett Group in the second quarter worth about $175,000. 76.42% of the stock is owned by institutional investors.
The Hackett Group announced that its Board of Directors has authorized a stock buyback program on Tuesday, August 8th that authorizes the company to repurchase $5.00 million in shares. This repurchase authorization authorizes the business services provider to buy up to 17% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The company also recently declared a semiannual dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 22nd will be paid a dividend of $0.15 per share. The ex-dividend date is Thursday, December 21st. This represents a yield of 2.02%. The Hackett Group’s dividend payout ratio is presently 40.00%.
About The Hackett Group
The Hackett Group, Inc is an advisory and technology consulting company. The Company’s services include business transformation, enterprise performance management, working capital management and global business services. The Company is engaged in providing business and technology consulting services.
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