Resources Connection (NASDAQ:RECN) released its quarterly earnings results on Wednesday. The business services provider reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.05, Briefing.com reports. The firm had revenue of $156.70 million for the quarter, compared to the consensus estimate of $152.91 million. Resources Connection had a return on equity of 8.38% and a net margin of 2.98%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period last year, the business posted $0.26 EPS.
Resources Connection (NASDAQ RECN) opened at $15.60 on Friday. Resources Connection has a twelve month low of $12.05 and a twelve month high of $17.70. The company has a market capitalization of $459.45, a price-to-earnings ratio of 26.90 and a beta of 1.18. The company has a quick ratio of 2.82, a current ratio of 2.82 and a debt-to-equity ratio of 0.20.
The business also recently announced a quarterly dividend, which was paid on Thursday, December 14th. Investors of record on Thursday, November 16th were issued a $0.12 dividend. The ex-dividend date was Wednesday, November 15th. This represents a $0.48 dividend on an annualized basis and a yield of 3.08%. Resources Connection’s dividend payout ratio is currently 82.76%.
RECN has been the topic of a number of research reports. Zacks Investment Research upgraded Resources Connection from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Saturday, October 7th. BidaskClub downgraded Resources Connection from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Robert W. Baird restated a “hold” rating and issued a $15.00 price target on shares of Resources Connection in a research note on Friday, November 10th. Deutsche Bank restated a “sell” rating and issued a $13.00 price target (up from $12.00) on shares of Resources Connection in a research note on Friday, October 6th. Finally, JPMorgan Chase & Co. downgraded Resources Connection from a “neutral” rating to an “underweight” rating and set a $16.00 price target on the stock. in a research note on Thursday. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $15.25.
COPYRIGHT VIOLATION WARNING: This piece was first published by Transcript Daily and is the sole property of of Transcript Daily. If you are reading this piece on another site, it was copied illegally and reposted in violation of international copyright law. The correct version of this piece can be viewed at https://transcriptdaily.com/2018/01/05/resources-connection-recn-releases-earnings-results-beats-estimates-by-0-05-eps.html.
About Resources Connection
Resources Connection, Inc is a multinational consulting firm. The Company’s operating entities primarily provide services under the name Resources Global Professionals (RGP). The Company provides consulting and business initiative support services to its global client base in the areas of accounting; finance; corporate governance, risk and compliance (GRC) management; corporate advisory, strategic communications and restructuring; information management; human capital; supply chain management, and legal and regulatory.
Receive News & Ratings for Resources Connection Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Resources Connection and related companies with MarketBeat.com's FREE daily email newsletter.