Resources Connection, Inc. (NASDAQ:RECN) Expected to Post Earnings of $0.31 Per Share

Analysts expect Resources Connection, Inc. (NASDAQ:RECN) to report $0.31 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Resources Connection’s earnings. The highest EPS estimate is $0.31 and the lowest is $0.30. Resources Connection posted earnings per share of $0.33 during the same quarter last year, which indicates a negative year-over-year growth rate of 6.1%. The firm is expected to announce its next quarterly earnings results on Thursday, January 2nd.

On average, analysts expect that Resources Connection will report full year earnings of $1.03 per share for the current financial year. For the next financial year, analysts expect that the business will post earnings of $1.08 per share. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that follow Resources Connection.

Resources Connection (NASDAQ:RECN) last released its quarterly earnings data on Wednesday, October 2nd. The business services provider reported $0.15 EPS for the quarter, beating the consensus estimate of $0.14 by $0.01. Resources Connection had a net margin of 4.24% and a return on equity of 11.31%. The business had revenue of $172.20 million during the quarter, compared to the consensus estimate of $173.02 million. During the same quarter in the prior year, the firm earned $0.18 EPS. The business’s revenue was down 3.6% on a year-over-year basis.

A number of research firms have recently issued reports on RECN. BidaskClub upgraded shares of Resources Connection from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Zacks Investment Research upgraded shares of Resources Connection from a “sell” rating to a “hold” rating in a research note on Friday.

Shares of RECN traded down $0.04 during midday trading on Tuesday, hitting $14.85. 133,400 shares of the company traded hands, compared to its average volume of 180,488. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.06 and a current ratio of 2.06. The firm has a 50 day moving average of $15.15 and a 200-day moving average of $16.06. Resources Connection has a 52 week low of $12.72 and a 52 week high of $17.93. The stock has a market cap of $480.73 million, a price-to-earnings ratio of 14.42 and a beta of 1.12.

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The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.77%. Resources Connection’s dividend payout ratio is presently 54.37%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RECN. Public Employees Retirement System of Ohio boosted its stake in shares of Resources Connection by 104.5% during the second quarter. Public Employees Retirement System of Ohio now owns 1,867 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 954 shares in the last quarter. Pacer Advisors Inc. bought a new position in shares of Resources Connection during the third quarter valued at approximately $150,000. Campbell & CO Investment Adviser LLC bought a new position in shares of Resources Connection during the second quarter valued at approximately $185,000. Russell Investments Group Ltd. boosted its stake in shares of Resources Connection by 111.2% during the third quarter. Russell Investments Group Ltd. now owns 12,740 shares of the business services provider’s stock valued at $217,000 after purchasing an additional 6,708 shares in the last quarter. Finally, Man Group plc bought a new position in shares of Resources Connection during the second quarter valued at approximately $298,000. Hedge funds and other institutional investors own 81.87% of the company’s stock.

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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