B. Riley Brokers Cut Earnings Estimates for RCM Technologies, Inc. (NASDAQ:RCMT)
RCM Technologies, Inc. (NASDAQ:RCMT – Get Rating) – B. Riley lowered their FY2022 earnings estimates for RCM Technologies in a report issued on Tuesday, June 14th. B. Riley analyst A. Rygiel now forecasts that the business services provider will earn $1.95 per share for the year, down from their previous estimate of $2.00. B. Riley currently has a “Neutral” rating and a $23.00 target price on the stock. The consensus estimate for RCM Technologies’ current full-year earnings is $2.00 per share.
A number of other equities analysts have also issued reports on the stock. Benchmark raised their target price on shares of RCM Technologies from $8.00 to $16.00 in a research report on Friday, April 1st. StockNews.com lowered shares of RCM Technologies from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Finally, TheStreet upgraded shares of RCM Technologies from a “c” rating to a “b-” rating in a research report on Thursday, April 28th.
Shares of RCMT opened at $22.22 on Thursday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.52. The firm has a market cap of $225.20 million, a PE ratio of 14.72 and a beta of 1.01. The company’s 50 day simple moving average is $18.90 and its 200-day simple moving average is $11.40. RCM Technologies has a 12-month low of $3.56 and a 12-month high of $28.82.
RCM Technologies (NASDAQ:RCMT – Get Rating) last issued its earnings results on Wednesday, April 27th. The business services provider reported $0.62 earnings per share for the quarter. RCM Technologies had a net margin of 6.84% and a return on equity of 46.67%. The firm had revenue of $81.96 million for the quarter. During the same period last year, the business earned $0.08 EPS.
In related news, insider Michael Saks sold 10,000 shares of RCM Technologies stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $27.02, for a total value of $270,200.00. Following the transaction, the insider now directly owns 119,343 shares in the company, valued at approximately $3,224,647.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard A. Genovese sold 27,813 shares of the firm’s stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $18.53, for a total value of $515,374.89. Following the completion of the sale, the director now directly owns 33,975 shares of the company’s stock, valued at approximately $629,556.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 165,956 shares of company stock worth $3,918,745. 23.90% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in RCMT. WNY Asset Management LLC acquired a new stake in RCM Technologies in the fourth quarter valued at $2,832,000. Rutabaga Capital Management LLC MA lifted its holdings in RCM Technologies by 36.7% in the first quarter. Rutabaga Capital Management LLC MA now owns 447,927 shares of the business services provider’s stock valued at $4,417,000 after acquiring an additional 120,168 shares during the period. Marshall Wace LLP acquired a new position in shares of RCM Technologies during the 3rd quarter worth $610,000. Acadian Asset Management LLC raised its stake in shares of RCM Technologies by 104.7% during the 4th quarter. Acadian Asset Management LLC now owns 184,351 shares of the business services provider’s stock worth $1,310,000 after buying an additional 94,294 shares during the last quarter. Finally, Spire Wealth Management raised its stake in shares of RCM Technologies by 6,464.7% during the 4th quarter. Spire Wealth Management now owns 38,075 shares of the business services provider’s stock worth $271,000 after buying an additional 37,495 shares during the last quarter. 33.71% of the stock is owned by institutional investors.
RCM Technologies Company Profile (Get Rating)
RCM Technologies, Inc provides business and technology solutions in the United States, Canada, Puerto Rico, and Serbia. It operates through three segments: Engineering, Specialty Health Care, and Life Sciences and Information Technology. The Engineering segment offers a range of engineering services, including project management engineering and design, engineering analysis, engineer-procure-construct, configuration management, hardware/software validation and verification, quality assurance, technical writing and publications, manufacturing process planning and improvement, and 3D/BIM integrated design.
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