Resources Connection, Inc. (NASDAQ:RECN) has been assigned a consensus recommendation of “Sell” from the six brokerages that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $12.00.
RECN has been the topic of a number of analyst reports. TheStreet cut shares of Resources Connection from a “b-” rating to a “c+” rating in a research note on Friday, May 26th. Zacks Investment Research upgraded shares of Resources Connection from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 7th. BidaskClub cut shares of Resources Connection from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Deutsche Bank AG lowered their target price on shares of Resources Connection from $14.00 to $12.00 and set a “sell” rating on the stock in a research note on Friday, July 21st.
TRADEMARK VIOLATION NOTICE: “Resources Connection, Inc. (RECN) Receives Consensus Rating of “Sell” from Brokerages” was published by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this story on another website, it was illegally copied and republished in violation of US & international copyright and trademark laws. The original version of this story can be read at https://stocknewstimes.com/2017/08/15/resources-connection-inc-recn-given-average-rating-of-sell-by-brokerages-updated.html.
Shares of Resources Connection (NASDAQ:RECN) traded down 2.33% during midday trading on Monday, hitting $12.55. The company had a trading volume of 69,212 shares. The stock has a 50 day moving average price of $13.59 and a 200 day moving average price of $14.59. Resources Connection has a 1-year low of $12.41 and a 1-year high of $19.80. The firm has a market capitalization of $374.83 million, a P/E ratio of 22.41 and a beta of 1.20.
Resources Connection (NASDAQ:RECN) last released its earnings results on Thursday, July 20th. The business services provider reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by $0.02. Resources Connection had a net margin of 3.20% and a return on equity of 8.08%. The firm had revenue of $148.60 million for the quarter, compared to analysts’ expectations of $148.46 million. During the same quarter last year, the firm posted $0.23 EPS. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. On average, equities analysts anticipate that Resources Connection will post $0.70 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Thursday, August 24th will be paid a $0.12 dividend. The ex-dividend date is Tuesday, August 22nd. This represents a $0.48 annualized dividend and a yield of 3.82%. This is a boost from Resources Connection’s previous quarterly dividend of $0.11. Resources Connection’s payout ratio is presently 80.00%.
Hedge funds have recently made changes to their positions in the company. Citadel Advisors LLC boosted its stake in shares of Resources Connection by 60.8% in the first quarter. Citadel Advisors LLC now owns 98,192 shares of the business services provider’s stock valued at $1,644,000 after buying an additional 37,137 shares during the last quarter. Guggenheim Capital LLC bought a new stake in shares of Resources Connection during the fourth quarter valued at approximately $1,080,000. Palisade Capital Management LLC NJ boosted its stake in shares of Resources Connection by 0.5% in the first quarter. Palisade Capital Management LLC NJ now owns 900,263 shares of the business services provider’s stock valued at $15,079,000 after buying an additional 4,360 shares during the last quarter. Adams Diversified Equity Fund Inc. boosted its stake in shares of Resources Connection by 2.8% in the first quarter. Adams Diversified Equity Fund Inc. now owns 65,600 shares of the business services provider’s stock valued at $1,099,000 after buying an additional 1,800 shares during the last quarter. Finally, LSV Asset Management bought a new stake in shares of Resources Connection during the first quarter valued at approximately $299,000. Institutional investors and hedge funds own 84.08% of the company’s stock.
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 Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Resources Connection Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
