Brokers Offer Predictions for RCM Technologies, Inc.’s FY2021 Earnings (NASDAQ:RCMT)

RCM Technologies, Inc. (NASDAQ:RCMT) – Stock analysts at B. Riley lifted their FY2021 earnings estimates for shares of RCM Technologies in a research note issued to investors on Monday, November 22nd. B. Riley analyst A. Rygiel now anticipates that the business services provider will post earnings of $0.40 per share for the year, up from their previous estimate of $0.32. B. Riley has a “Neutral” rating and a $7.50 price objective on the stock. B. Riley also issued estimates for RCM Technologies’ FY2022 earnings at $0.57 EPS.

RCM Technologies (NASDAQ:RCMT) last posted its quarterly earnings data on Thursday, November 11th. The business services provider reported $0.24 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.26. RCM Technologies had a return on equity of 12.96% and a net margin of 1.85%. The business had revenue of $45.47 million for the quarter, compared to the consensus estimate of $42.22 million. During the same quarter in the prior year, the business earned ($0.02) earnings per share.

Separately, Zacks Investment Research raised shares of RCM Technologies from a “hold” rating to a “buy” rating and set a $7.75 target price on the stock in a report on Thursday.

Shares of RCMT stock opened at $7.60 on Wednesday. The company’s fifty day simple moving average is $6.48 and its two-hundred day simple moving average is $5.07. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.43 and a quick ratio of 1.43. RCM Technologies has a 1 year low of $1.51 and a 1 year high of $12.49. The stock has a market capitalization of $79.68 million, a price-to-earnings ratio of 27.14 and a beta of 1.79.

A number of hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its holdings in RCM Technologies by 3.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 580,312 shares of the business services provider’s stock valued at $2,391,000 after acquiring an additional 20,283 shares during the period. Vanguard Group Inc. increased its holdings in shares of RCM Technologies by 47.8% in the second quarter. Vanguard Group Inc. now owns 371,287 shares of the business services provider’s stock worth $1,530,000 after purchasing an additional 120,038 shares during the period. Marshall Wace LLP bought a new position in shares of RCM Technologies in the third quarter worth $610,000. Geode Capital Management LLC increased its holdings in shares of RCM Technologies by 3.1% in the third quarter. Geode Capital Management LLC now owns 61,331 shares of the business services provider’s stock worth $372,000 after purchasing an additional 1,844 shares during the period. Finally, Two Sigma Investments LP bought a new position in shares of RCM Technologies in the third quarter worth $158,000. 20.12% of the stock is currently owned by institutional investors and hedge funds.

RCM Technologies Company Profile

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.

Featured Story: How to invest in a bear market

Receive News & Ratings for RCM Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RCM Technologies and related companies with MarketBeat.com's FREE daily email newsletter.