RCM Technologies (NASDAQ:RCMT) Posts Earnings Results, Beats Estimates By $0.12 EPS

RCM Technologies (NASDAQ:RCMT) released its earnings results on Thursday. The business services provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.12, FiscalAI reports. RCM Technologies had a net margin of 5.13% and a return on equity of 37.92%. The firm had revenue of $73.40 million for the quarter, compared to analysts’ expectations of $78.29 million.

RCM Technologies Stock Performance

Shares of RCM Technologies stock traded down $4.12 during trading hours on Thursday, reaching $30.70. The company had a trading volume of 45,021 shares, compared to its average volume of 65,839. RCM Technologies has a one year low of $17.26 and a one year high of $43.68. The business has a fifty day simple moving average of $38.68 and a 200 day simple moving average of $29.10. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.92 and a quick ratio of 1.92. The firm has a market cap of $218.24 million, a PE ratio of 13.34 and a beta of 0.48.

Insider Activity at RCM Technologies

In other RCM Technologies news, CFO Kevin D. Miller sold 1,753 shares of RCM Technologies stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $42.05, for a total transaction of $73,713.65. Following the completion of the transaction, the chief financial officer owned 330,863 shares of the company’s stock, valued at $13,912,789.15. The trade was a 0.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael Saks sold 706 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $41.12, for a total value of $29,030.72. Following the sale, the insider owned 88,601 shares in the company, valued at approximately $3,643,273.12. This represents a 0.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 219,997 shares of company stock worth $8,238,837. 28.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RCMT. Zacks Research lowered RCM Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 13th. Wall Street Zen upgraded RCM Technologies from a “hold” rating to a “strong-buy” rating in a research note on Sunday, August 16th. B. Riley Financial upped their price objective on shares of RCM Technologies from $40.00 to $45.00 and gave the company a “buy” rating in a report on Monday, August 17th. Weiss Ratings lowered shares of RCM Technologies from a “buy (b)” rating to a “hold (c+)” rating in a research report on Monday. Finally, Benchmark lifted their target price on shares of RCM Technologies from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, August 17th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.