RCM Technologies (NASDAQ:RCMT) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

RCM Technologies (NASDAQ:RCMT – Get Rating) announced its earnings results on Thursday. The business services provider reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.02, Yahoo Finance reports. The business had revenue of $70.22 million during the quarter, compared to analyst estimates of $67.05 million. RCM Technologies had a return on equity of 61.19% and a net margin of 7.88%.

RCM Technologies Stock Performance

RCMT stock opened at $12.85 on Friday. The stock has a 50-day moving average price of $13.63 and a 200-day moving average price of $14.84. RCM Technologies has a 1-year low of $7.36 and a 1-year high of $28.82. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.04. The firm has a market cap of $126.47 million, a PE ratio of 6.43 and a beta of 0.87.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Citigroup Inc. bought a new position in shares of RCM Technologies in the 1st quarter worth about $26,000. JPMorgan Chase & Co. acquired a new stake in shares of RCM Technologies in the 2nd quarter valued at about $52,000. Advisor Group Holdings Inc. acquired a new stake in shares of RCM Technologies in the 1st quarter valued at about $69,000. Victory Capital Management Inc. acquired a new stake in shares of RCM Technologies in the 4th quarter valued at about $77,000. Finally, Bank of Montreal Can acquired a new stake in shares of RCM Technologies in the 2nd quarter valued at about $116,000. 40.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com began coverage on RCM Technologies in a research report on Thursday. They issued a “buy” rating for the company.

RCM Technologies Company Profile

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RCM Technologies, Inc engages in the provision of business and technology solutions. It operates through the following segments: Engineering, Specialty Health Care, and Information Technology. The Engineering segment offers a portfolio of engineering and design services across energy services, process and industrial, and aerospace sectors.