Resources Connection Inc. [NASDAQ:RGP] will report earnings after markets close on Wednesday, January 6th.
RGP Earnings Forecast For The Current Quarter
Resources Connection Inc. [RGP] is expected to report weak earnings results for the quarter ending on Nov 2020. Consensus estimates give the company expected revenues of $153.32M and an earnings per share of $0.19 for Nov 2020. Looking further ahead, the company is expected to report revenue of $152.16M at an EPS of $0.14 for Feb 2021. The estimates represent 8.80% and 52.61% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
RGP Earnings Estimates For The Current Year
For the financial year, Resources Connection Inc. [NASDAQ:RGP] is expected to bring in revenue of $625.6M. The returns are nearly $-77.75 million lower than the company’s actual revenue recorded in the fiscal year 2020. In terms of EPS for the 2021, estimate put it at 0.55, lower than that of FY20 by -$0.44. Estimates put this year’s earnings growth at -44.40%, 54.50% for the next, and at an annual 8.00% over the next 5-year period. As for sales, forecasts are for a decrease of -11.10% in the current fiscal year and a further 8.80% over the following year.
RGP Price Performance
On Wall Street, Resources Connection Inc. [NASDAQ:RGP] finished Monday’s session down -1.27% at $12.41. The stock went up to $12.77 at the same session while its lowest single day price was $12.26. In the last five days, it saw a fall of about -0.08%, Resources Connection Inc. shares dropped by almost -1.27% since the beginning of the year. However, the share price has dropped to as low as -30.36% below its one year high. On 01/04/21, the company shares recorded $12.77, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $12.26. The company’s shares have declined by -28.68% in the past year. The 50-day SMA achieved is $12.12 while the 200-day SMA is $11.52. Volume gained to 0.14 million from 89700.0 in the previous session.
Resources Connection Inc. [RGP] Valuation Measures
Notably, Resources Connection Inc. [RGP] stock can be classified as a good candidate in the listing of underestimated low-priced Consulting Services companies to purchase soonest possible with the prevailing 12-month PE ratio of 15.67. The measure means the stock is exchanging at a discount as compared to the 20.45x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 0.59 PS value ratio is reported for the last one year of reported earnings. That is lower than the industry average of 1.03 which means RGP serve an attractive investment opportunity compared to its competitors.
RGP Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 12.19 level, and in case of violation of this particular level, it will cause more drop to 11.97 level. On the upper level, 12.99 is still the key resistance. The stock may increase to the subsequent resistance at 12.70. The Relative Strength Index (RSI) pinned on the 14-day chart is 48.32, implying a neutral technical stance while the MACD stands at -0.11, meaning price will decrease in the next trading period. Percent R indicator moved to 70.08%, implying bearish price movement. Stochastic %K at 38.32% suggest holding the stock.
Is Resources Connection Inc. [NASDAQ:RGP] a Good Buy Right Now?
It should be noted that RGP technical indicators for short, intermediate as well as long term progress have placed an overall average of 80% as Buy. The average signal changed from 64% Buy in the last week and compares with 88% Buy in the past month. Data from Resources Connection Inc.’s Trend Spotter indicated that the signals were Bearish. The stock current average is 0.21 million shares in the past 20 days and the short term average signal indicates a 50% Buy. In the last 50 days, the average trading volume was 0.17 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.17 million shares.
What is the short interest in Resources Connection Inc.?
Short interest in the Resources Connection Inc. stock has plunged, decreasing by -0.11 million shares to total 0.37 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 0.25 million, data from Yahoo Finance shows. The increase of 31.26% suggests the stock saw some increased bearish sentiment. The stock’s days to cover moved to short ratio while the shorted shares account for just 1.61% of the overall float for the stock.
Resources Connection Inc.’s Biggest Shareholders: Who Owns Resources Connection Inc. [RGP]?
Filings by BlackRock Fund Advisors showed that the firm now holds a total of 4,552,884 shares or roughly 14.04% of the outstanding RGP shares. This means their shares have increased by 39,812 from the 4,552,884 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, Royce & Associates LP updated stake is worth $35,733,631. Details in the latest 13F filings reveal that Dimensional Fund Advisors LP disposed off their -0.72% stake valued at $30,732,637 while The Vanguard Group, Inc. cut theirs at $30,636,181. During the last quarter, Dimensional Fund Advisors LP liquidated -18,413 of its shares in Resources Connection Inc. while The Vanguard Group, Inc. sold -663,720 shares. The Palisade Capital Management LLC’s holdings currently number 1,514,780 shares at $18798419.8. According to the firm’s last 13F report, Invesco Capital Management LLC shares in the company at filing stood at 1,149,991 shares, roughly $13,926,391.
What are analyst thoughts on Resources Connection Inc.?
Looking forward to the Resources Connection Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Resources Connection Inc. stock at $13.00 within the next 12 months, which represents almost 4.54 per cent growth from its previous closing price of $12.41. The highest analysts’ target for Resources Connection Inc. stock projections is $15.00 and the lowest one is $12.00. Still, 3 analysts sharing their consensus rating for RGP stock in 2021 agree that it is a Hold.