Equities research analysts expect that Resources Connection, Inc. (NASDAQ:RECN) will post sales of $185.72 million for the current quarter, Zacks reports. Two analysts have provided estimates for Resources Connection’s earnings, with the highest sales estimate coming in at $188.00 million and the lowest estimate coming in at $183.44 million. Resources Connection reported sales of $188.80 million during the same quarter last year, which would suggest a negative year over year growth rate of 1.6%. The firm is expected to report its next quarterly earnings report on Thursday, January 2nd.
On average, analysts expect that Resources Connection will report full year sales of $729.89 million for the current year, with estimates ranging from $721.33 million to $738.45 million. For the next fiscal year, analysts expect that the company will report sales of $731.37 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Resources Connection.
Resources Connection (NASDAQ:RECN) last announced its quarterly earnings results on Wednesday, October 2nd. The business services provider reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. The company had revenue of $172.20 million during the quarter, compared to analyst estimates of $173.02 million. Resources Connection had a return on equity of 11.31% and a net margin of 4.24%. The firm’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.18 earnings per share.
RECN traded up $0.03 during trading hours on Friday, hitting $15.52. The company’s stock had a trading volume of 88,612 shares, compared to its average volume of 173,900. The business’s 50-day moving average price is $14.84 and its 200-day moving average price is $15.95. Resources Connection has a 12 month low of $12.72 and a 12 month high of $17.93. The stock has a market cap of $494.82 million, a price-to-earnings ratio of 15.07 and a beta of 1.14. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.38.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend is Friday, November 8th. Resources Connection’s dividend payout ratio (DPR) is 54.37%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RECN. First Trust Advisors LP lifted its holdings in shares of Resources Connection by 1.7% in the 1st quarter. First Trust Advisors LP now owns 54,361 shares of the business services provider’s stock worth $899,000 after acquiring an additional 914 shares during the last quarter. Arizona State Retirement System raised its position in shares of Resources Connection by 1.5% in the 2nd quarter. Arizona State Retirement System now owns 46,691 shares of the business services provider’s stock worth $748,000 after acquiring an additional 687 shares in the last quarter. Strs Ohio boosted its position in Resources Connection by 2.8% during the second quarter. Strs Ohio now owns 41,000 shares of the business services provider’s stock valued at $656,000 after purchasing an additional 1,100 shares in the last quarter. Fisher Asset Management LLC grew its stake in Resources Connection by 14.7% in the second quarter. Fisher Asset Management LLC now owns 143,734 shares of the business services provider’s stock valued at $2,301,000 after purchasing an additional 18,439 shares during the last quarter. Finally, Horrell Capital Management Inc. raised its holdings in Resources Connection by 12.1% in the second quarter. Horrell Capital Management Inc. now owns 198,880 shares of the business services provider’s stock worth $3,184,000 after purchasing an additional 21,500 shares in the last quarter. 81.89% of the stock is currently owned by hedge funds and other institutional investors.
About Resources Connection
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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