RCM Technologies (NASDAQ:RCMT) Issues Quarterly Earnings Results

RCM Technologies (NASDAQ:RCMT) released its quarterly earnings data on Thursday. The business services provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.41 by $0.12, FiscalAI reports. The company had revenue of $73.40 million for the quarter, compared to analyst estimates of $78.29 million. RCM Technologies had a return on equity of 37.92% and a net margin of 5.13%.

RCM Technologies Stock Performance

Shares of RCMT opened at $31.46 on Friday. The firm has a market cap of $223.68 million, a price-to-earnings ratio of 15.14 and a beta of 0.48. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.48. The business’s 50 day moving average is $38.47 and its two-hundred day moving average is $29.16. RCM Technologies has a 52-week low of $17.26 and a 52-week high of $43.68.

Insider Transactions at RCM Technologies

In other RCM Technologies news, insider Michael Saks sold 706 shares of the firm’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $41.12, for a total transaction of $29,030.72. Following the completion of the transaction, the insider directly owned 88,601 shares of the company’s stock, valued at $3,643,273.12. This trade represents a 0.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin D. Miller sold 1,753 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $42.05, for a total transaction of $73,713.65. Following the transaction, the chief financial officer directly owned 330,863 shares of the company’s stock, valued at approximately $13,912,789.15. This represents a 0.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 152,924 shares of company stock valued at $5,937,157. 28.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

RCMT has been the subject of several recent research reports. Wall Street Zen raised shares of RCM Technologies from a “hold” rating to a “strong-buy” rating in a research report on Sunday, August 16th. Zacks Research cut shares of RCM Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 13th. B. Riley Financial upped their target price on shares of RCM Technologies from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, August 17th. Weiss Ratings downgraded shares of RCM Technologies from a “buy (b)” rating to a “hold (c+)” rating in a research note on Monday. Finally, Benchmark raised their price target on shares of RCM Technologies from $36.00 to $45.00 and gave the company a “buy” rating in a report on Monday, August 17th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, RCM Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $45.00.

RCM Technologies Company Profile

RCM Technologies, Inc. provides business and technology solutions to clients in the United States and other markets. Its services span engineering, specialty health care and life sciences, combining professional expertise with project-based and workforce services. The company’s engineering work supports sectors such as aerospace and defense, energy, and industrial manufacturing. Its specialty health care business supplies clinical professionals and related services, while its life sciences business supports pharmaceutical, biotechnology and medical-device organizations with technical and regulatory expertise.