$0.31 EPS Expected for Resources Connection, Inc. (NASDAQ:RECN) This Quarter

Wall Street brokerages expect Resources Connection, Inc. (NASDAQ:RECN) to post earnings per share of $0.31 for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Resources Connection’s earnings, with estimates ranging from $0.30 to $0.31. Resources Connection posted earnings per share of $0.33 in the same quarter last year, which indicates a negative year over year growth rate of 6.1%. The business is expected to issue its next quarterly earnings report on Thursday, January 2nd.

According to Zacks, 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 forecast that the business will report earnings of $1.08 per share. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Resources Connection.

Resources Connection (NASDAQ:RECN) last issued its earnings results on Wednesday, October 2nd. The business services provider reported $0.15 earnings per share (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 analysts’ expectations of $173.02 million. During the same quarter in the prior year, the business posted $0.18 EPS. The company’s revenue for the quarter was down 3.6% on a year-over-year basis.

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

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Resources Connection by 1.8% in the 2nd quarter. BlackRock Inc. now owns 4,665,558 shares of the business services provider’s stock valued at $74,695,000 after purchasing an additional 80,577 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Resources Connection by 7.8% in the 2nd quarter. Invesco Ltd. now owns 854,098 shares of the business services provider’s stock valued at $13,674,000 after purchasing an additional 61,975 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Resources Connection by 3.0% in the 2nd quarter. Northern Trust Corp now owns 418,074 shares of the business services provider’s stock valued at $6,693,000 after purchasing an additional 12,373 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Resources Connection by 26.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 277,776 shares of the business services provider’s stock valued at $4,448,000 after purchasing an additional 57,479 shares in the last quarter. Finally, Horrell Capital Management Inc. increased its holdings in shares of Resources Connection by 12.1% in the 2nd quarter. Horrell Capital Management Inc. now owns 198,880 shares of the business services provider’s stock valued at $3,184,000 after purchasing an additional 21,500 shares in the last quarter. Institutional investors and hedge funds own 81.87% of the company’s stock.

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Shares of Resources Connection stock traded down $0.04 during trading hours on Tuesday, hitting $14.85. The company had a trading volume of 133,400 shares, compared to its average volume of 180,488. The company’s 50-day moving average is $15.15 and its two-hundred day moving average is $16.06. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.06 and a quick ratio of 2.06. The company has a market cap of $480.73 million, a P/E ratio of 14.42 and a beta of 1.12. Resources Connection has a twelve month low of $12.72 and a twelve month high of $17.93.

The business also recently declared 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. The ex-dividend date 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%.

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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