Home Earnings What to Expect When Resources Connection Inc. Announces Earnings

What to Expect When Resources Connection Inc. [RGP] Announces Earnings

Resources Connection Inc. [NASDAQ:RGP] will report earnings after markets close on Wednesday, ‎January 6th.

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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.

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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.

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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.‎

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