Resources Connection, Inc. (RECN) Earns “Hold” Rating from Robert W. Baird
Robert W. Baird reiterated their hold rating on shares of Resources Connection, Inc. (NASDAQ:RECN) in a research note released on Friday morning. The firm currently has a $15.00 price objective on the business services provider’s stock.
Several other analysts have also issued reports on RECN. Deutsche Bank AG cut their price target on shares of Resources Connection from $14.00 to $12.00 and set a sell rating for the company in a research report on Friday, July 21st. Zacks Investment Research lowered shares of Resources Connection from a hold rating to a sell rating in a research report on Tuesday, July 25th. Finally, BidaskClub lowered shares of Resources Connection from a hold rating to a sell rating in a research report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $15.00.
Shares of Resources Connection (NASDAQ:RECN) opened at $15.55 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.82 and a current ratio of 2.82. Resources Connection has a 1 year low of $12.05 and a 1 year high of $19.80. The stock has a market cap of $468.49, a PE ratio of 26.36 and a beta of 1.19.
Resources Connection (NASDAQ:RECN) last posted its quarterly earnings results on Wednesday, October 4th. The business services provider reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. Resources Connection had a net margin of 2.60% and a return on equity of 8.08%. The business had revenue of $141.20 million during the quarter, compared to analyst estimates of $140.29 million. During the same period in the prior year, the business posted $0.15 earnings per share. The company’s revenue was down 1.5% on a year-over-year basis. equities research analysts anticipate that Resources Connection will post 0.67 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 16th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Wednesday, November 15th. Resources Connection’s dividend payout ratio (DPR) is 102.13%.
Large investors have recently modified their holdings of the company. Russell Investments Group Ltd. bought a new position in shares of Resources Connection during the first quarter valued at about $116,000. Tudor Investment Corp ET AL bought a new position in shares of Resources Connection during the first quarter valued at about $173,000. SG Americas Securities LLC bought a new position in shares of Resources Connection during the third quarter valued at about $153,000. Municipal Employees Retirement System of Michigan raised its stake in shares of Resources Connection by 58.8% during the third quarter. Municipal Employees Retirement System of Michigan now owns 11,130 shares of the business services provider’s stock valued at $155,000 after acquiring an additional 4,120 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Resources Connection by 44.0% during the second quarter. BNP Paribas Arbitrage SA now owns 12,303 shares of the business services provider’s stock valued at $169,000 after acquiring an additional 3,761 shares during the last quarter. 81.84% of the stock is owned by hedge funds and other institutional investors.
Resources Connection Company Profile
Resources Connection, Inc is a multinational consulting firm. The Company’s operating entities primarily provide services under the name Resources Global Professionals (RGP). The Company provides consulting and business initiative support services to its global client base in the areas of accounting; finance; corporate governance, risk and compliance (GRC) management; corporate advisory, strategic communications and restructuring; information management; human capital; supply chain management, and legal and regulatory.
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