The Hackett Group (NASDAQ:HCKT) Releases Q2 2022 Earnings Guidance

The Hackett Group (NASDAQ:HCKT – Get Rating) issued an update on its second quarter 2022 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.33-$0.35 for the period, compared to the consensus estimate of $0.35. The company issued revenue guidance of $71.00 million-$73.00 million, compared to the consensus revenue estimate of $75.50 million.

Shares of NASDAQ:HCKT traded down $0.05 during trading on Wednesday, reaching $19.49. The stock had a trading volume of 646 shares, compared to its average volume of 127,837. The firm’s fifty day moving average is $22.81 and its 200 day moving average is $21.24. The Hackett Group has a 52 week low of $16.92 and a 52 week high of $24.78. The stock has a market cap of $615.79 million, a price-to-earnings ratio of 13.96, a P/E/G ratio of 1.09 and a beta of 0.60.

The Hackett Group (NASDAQ:HCKT – Get Rating) last posted its quarterly earnings data on Tuesday, May 10th. The business services provider reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.06. The Hackett Group had a net margin of 15.70% and a return on equity of 25.72%. The company had revenue of $75.11 million for the quarter, compared to analyst estimates of $71.00 million. As a group, research analysts predict that The Hackett Group will post 1.19 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 8th. Investors of record on Friday, June 24th will be given a dividend of $0.11 per share. The ex-dividend date is Thursday, June 23rd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.26%. The Hackett Group’s payout ratio is presently 31.43%.

HCKT has been the topic of several research reports. Zacks Investment Research upgraded shares of The Hackett Group from a hold rating to a buy rating and set a $22.00 price objective on the stock in a report on Thursday, May 19th. StockNews.com initiated coverage on shares of The Hackett Group in a report on Thursday, March 31st. They set a strong-buy rating on the stock. Finally, Barrington Research initiated coverage on shares of The Hackett Group in a report on Wednesday, May 11th. They issued a buy rating and a $26.00 target price for the company. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Buy and an average target price of $24.75.

A number of large investors have recently modified their holdings of the business. Royal Bank of Canada boosted its position in shares of The Hackett Group by 24.5% in the third quarter. Royal Bank of Canada now owns 3,704 shares of the business services provider’s stock valued at $73,000 after acquiring an additional 730 shares during the period. Advisor Group Holdings Inc. raised its stake in The Hackett Group by 22.4% in the first quarter. Advisor Group Holdings Inc. now owns 4,310 shares of the business services provider’s stock valued at $99,000 after purchasing an additional 790 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in The Hackett Group by 394.6% in the third quarter. BNP Paribas Arbitrage SA now owns 5,065 shares of the business services provider’s stock valued at $99,000 after purchasing an additional 4,041 shares in the last quarter. Citigroup Inc. raised its stake in The Hackett Group by 74.8% in the fourth quarter. Citigroup Inc. now owns 9,277 shares of the business services provider’s stock valued at $190,000 after purchasing an additional 3,969 shares in the last quarter. Finally, MetLife Investment Management LLC raised its stake in The Hackett Group by 52.4% in the first quarter. MetLife Investment Management LLC now owns 14,500 shares of the business services provider’s stock valued at $334,000 after purchasing an additional 4,985 shares in the last quarter. Hedge funds and other institutional investors own 74.11% of the company’s stock.

About The Hackett Group (Get Rating)

The Hackett Group, Inc operates as a strategic advisory and technology consulting firm primarily in North America and internationally. It offers best practice intelligence center, an online searchable repository; best practice accelerators that provide web-based access to best practices, customized software configuration tools, and best practice process flows; advisor inquiry for access to fact-based advice on proven approaches and methods; best practice research that provides insights into the proven approaches; and peer interaction comprising member-led webcasts, annual best practice conferences, annual member forums, membership performance surveys, and client-submitted content, as well as intellectual property as-a-service and Hackett Institute programs.

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