RCM Technologies (NASDAQ:RCMT) Issues Earnings Results

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

RCM Technologies Price Performance

Shares of RCMT stock traded down $0.13 on Friday, reaching $12.85. The company’s stock had a trading volume of 93,881 shares, compared to its average volume of 56,998. The company has a market capitalization of $126.47 million, a price-to-earnings ratio of 6.43 and a beta of 0.87. The stock’s fifty day simple moving average is $13.63 and its 200-day simple moving average is $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.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in shares of RCM Technologies by 2.2% during the first quarter. Dimensional Fund Advisors LP now owns 539,317 shares of the business services provider’s stock worth $5,318,000 after acquiring an additional 11,603 shares during the last quarter. Marshall Wace LLP purchased a new stake in RCM Technologies in the 3rd quarter worth $1,497,000. Millennium Management LLC increased its stake in shares of RCM Technologies by 382.3% in the 4th quarter. Millennium Management LLC now owns 54,572 shares of the business services provider’s stock worth $673,000 after acquiring an additional 43,257 shares during the last quarter. Man Group plc increased its position in shares of RCM Technologies by 72.2% during the fourth quarter. Man Group plc now owns 37,877 shares of the business services provider’s stock valued at $467,000 after acquiring an additional 15,877 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of RCM Technologies by 3.6% in the first quarter. State Street Corp now owns 25,955 shares of the business services provider’s stock valued at $256,000 after purchasing an additional 900 shares in the last quarter. Institutional investors own 40.53% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of RCM Technologies in a research note on Thursday. They set a “buy” rating on the stock.

About RCM Technologies

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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.