Equities analysts forecast that Resources Connection, Inc. (NASDAQ:RECN) will post $185.05 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Resources Connection’s earnings, with estimates ranging from $184.99 million to $185.10 million. Resources Connection posted sales of $156.74 million in the same quarter last year, which would indicate a positive year over year growth rate of 18.1%. The business is scheduled to issue its next earnings results on Wednesday, January 2nd.
According to Zacks, analysts expect that Resources Connection will report full-year sales of $738.28 million for the current year, with estimates ranging from $737.58 million to $738.98 million. For the next year, analysts forecast that the company will report sales of $766.29 million, with estimates ranging from $759.70 million to $772.88 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Resources Connection.
Resources Connection (NASDAQ:RECN) last released its quarterly earnings data on Wednesday, October 3rd. The business services provider reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.07. The firm had revenue of $178.60 million for the quarter, compared to analyst estimates of $173.60 million. Resources Connection had a net margin of 3.25% and a return on equity of 10.89%. The business’s quarterly revenue was up 26.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.12 earnings per share.
Shares of NASDAQ:RECN traded down $0.92 during midday trading on Thursday, reaching $15.73. The company’s stock had a trading volume of 116,880 shares, compared to its average volume of 154,602. The firm has a market capitalization of $531.18 million, a P/E ratio of 16.05 and a beta of 0.99. Resources Connection has a twelve month low of $13.20 and a twelve month high of $19.50. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.37 and a quick ratio of 2.37.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 11th. Investors of record on Tuesday, November 13th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Friday, November 9th. Resources Connection’s dividend payout ratio (DPR) is presently 53.06%.
In other Resources Connection news, Director Anthony Cherbak sold 20,000 shares of the stock in a transaction on Thursday, October 4th. The shares were sold at an average price of $18.59, for a total transaction of $371,800.00. Following the transaction, the director now directly owns 33,500 shares of the company’s stock, valued at $622,765. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO John D. Bower sold 7,500 shares of the stock in a transaction on Friday, October 5th. The shares were sold at an average price of $18.93, for a total transaction of $141,975.00. Following the transaction, the chief accounting officer now directly owns 20,291 shares in the company, valued at $384,108.63. The disclosure for this sale can be found here. Company insiders own 9.80% of the company’s stock.
Large investors have recently bought and sold shares of the company. Stone Ridge Asset Management LLC lifted its stake in shares of Resources Connection by 23.0% in the third quarter. Stone Ridge Asset Management LLC now owns 41,094 shares of the business services provider’s stock worth $682,000 after buying an additional 7,687 shares in the last quarter. Citadel Advisors LLC purchased a new position in shares of Resources Connection in the second quarter worth about $1,464,000. Confluence Investment Management LLC purchased a new position in shares of Resources Connection in the third quarter worth about $5,713,000. Acadian Asset Management LLC lifted its stake in shares of Resources Connection by 6.2% in the third quarter. Acadian Asset Management LLC now owns 59,241 shares of the business services provider’s stock worth $983,000 after buying an additional 3,473 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of Resources Connection by 69.8% in the second quarter. Russell Investments Group Ltd. now owns 16,300 shares of the business services provider’s stock worth $275,000 after buying an additional 6,700 shares in the last quarter. 80.97% of the stock is currently owned by hedge funds and other institutional investors.
Resources Connection Company Profile
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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