RCM Technologies (NASDAQ:RCMT – Get Free Report) released its quarterly earnings results on Thursday. The business services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20, FiscalAI reports. RCM Technologies had a net margin of 5.03% and a return on equity of 37.76%. The business had revenue of $93.82 million for the quarter, compared to analyst estimates of $81.75 million.
RCM Technologies Stock Up 1.4%
Shares of NASDAQ:RCMT traded up $0.40 during trading on Thursday, reaching $28.92. 27,298 shares of the company traded hands, compared to its average volume of 59,534. The firm has a fifty day simple moving average of $27.41 and a 200 day simple moving average of $24.39. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.65. RCM Technologies has a 1-year low of $17.26 and a 1-year high of $32.50. The firm has a market cap of $205.04 million, a P/E ratio of 13.64 and a beta of 0.29.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on RCMT. Zacks Research lowered RCM Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of RCM Technologies in a research report on Friday, July 17th. Finally, Wall Street Zen lowered RCM Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $36.00.
Institutional Trading of RCM Technologies
Several hedge funds and other institutional investors have recently modified their holdings of RCMT. BNP Paribas Financial Markets boosted its position in RCM Technologies by 44.1% during the second quarter. BNP Paribas Financial Markets now owns 1,892 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 579 shares during the last quarter. JPMorgan Chase & Co. increased its position in RCM Technologies by 1,241.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,320 shares of the business services provider’s stock worth $55,000 after purchasing an additional 2,147 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of RCM Technologies during the 3rd quarter worth about $60,000. Lazard Asset Management LLC acquired a new stake in shares of RCM Technologies during the 2nd quarter valued at about $77,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of RCM Technologies during the 2nd quarter valued at about $101,000. 43.20% of the stock is currently owned by hedge funds and other institutional investors.
RCM Technologies Company Profile
RCM Technologies, Inc (NASDAQ: RCMT) is an information technology consulting firm that specializes in delivering secure, enterprise-level technology solutions. The company’s core offerings include IT infrastructure design and integration, data center modernization, cloud migration and management, cybersecurity services, and digital collaboration platforms. RCM Technologies serves clients across federal and commercial markets, tailoring its services to meet the strict security and compliance requirements of government agencies as well as the performance and scalability needs of private-sector organizations.
Founded in the mid-1980s and headquartered in Dresher, Pennsylvania, RCM Technologies has built a reputation for end-to-end project delivery, from initial assessment and design through implementation and ongoing managed support.
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