RCM Technologies (NASDAQ:RCMT) Posts Quarterly Earnings Results, Beats Estimates By $0.12 EPS

RCM Technologies (NASDAQ:RCMT) issued its quarterly earnings data on Thursday. The business services provider reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.12, FiscalAI reports. The company had revenue of $73.40 million for the quarter, compared to the consensus estimate of $78.29 million. RCM Technologies had a return on equity of 37.92% and a net margin of 5.13%.

RCM Technologies Price Performance

Shares of RCM Technologies stock traded down $4.12 during trading on Thursday, hitting $30.70. 45,021 shares of the stock traded hands, compared to its average volume of 65,839. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.48. The stock has a market cap of $218.24 million, a price-to-earnings ratio of 13.34 and a beta of 0.48. The firm’s fifty day moving average is $38.68 and its 200-day moving average is $29.10. RCM Technologies has a 52 week low of $17.26 and a 52 week high of $43.68.

Insider Buying and Selling

In other RCM Technologies news, Chairman Bradley Vizi sold 74,719 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $38.86, for a total value of $2,903,580.34. Following the completion of the sale, the chairman owned 1,402,477 shares of the company’s stock, valued at $54,500,256.22. This represents a 5.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin Miller sold 1,753 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $42.05, for a total transaction of $73,713.65. Following the completion of the sale, the chief financial officer directly owned 330,863 shares of the company’s stock, valued at $13,912,789.15. This trade represents a 0.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 219,997 shares of company stock worth $8,238,837 in the last quarter. 28.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Wall Street Zen upgraded RCM Technologies from a “hold” rating to a “strong-buy” rating in a research note on Sunday, August 16th. B. Riley Financial boosted their price objective on RCM Technologies from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, August 17th. Zacks Research cut shares of RCM Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 13th. Weiss Ratings downgraded shares of RCM Technologies from a “buy (b)” rating to a “hold (c+)” rating in a research note on Monday. Finally, Benchmark boosted their price target on shares of RCM Technologies from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, August 17th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $45.00.

About RCM Technologies

RCM Technologies, Inc. provides business and technology solutions to clients in the United States and other markets. Its services span engineering, specialty health care and life sciences, combining professional expertise with project-based and workforce services. The company’s engineering work supports sectors such as aerospace and defense, energy, and industrial manufacturing. Its specialty health care business supplies clinical professionals and related services, while its life sciences business supports pharmaceutical, biotechnology and medical-device organizations with technical and regulatory expertise.