RCM Technologies (NASDAQ:RCMT) Releases Quarterly Earnings Results, Beats Expectations By $0.19 EPS

RCM Technologies (NASDAQ:RCMT) announced its quarterly earnings results on Friday. The business services provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.58 by $0.19, FiscalAI reports. The business had revenue of $86.48 million for the quarter, compared to analysts’ expectations of $84.46 million. RCM Technologies had a net margin of 4.23% and a return on equity of 35.58%.

RCM Technologies Price Performance

Shares of NASDAQ RCMT remained flat at $19.30 during trading on Friday. 35,583 shares of the stock traded hands, compared to its average volume of 54,279. RCM Technologies has a 1-year low of $14.88 and a 1-year high of $28.27. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.78. The firm’s fifty day simple moving average is $19.21 and its two-hundred day simple moving average is $20.97. The firm has a market capitalization of $143.01 million, a price-to-earnings ratio of 11.29 and a beta of -0.01.

Institutional Investors Weigh In On RCM Technologies

A number of institutional investors have recently made changes to their positions in RCMT. BNP Paribas Financial Markets raised its holdings in shares of RCM Technologies by 44.1% in the 2nd 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 in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of RCM Technologies by 1,241.0% in the second quarter. JPMorgan Chase & Co. now owns 2,320 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 2,147 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of RCM Technologies during the 3rd quarter worth $60,000. Lazard Asset Management LLC purchased a new stake in RCM Technologies in the 2nd quarter valued at approximately $77,000. Finally, New York State Common Retirement Fund purchased a new position in shares of RCM Technologies during the second quarter valued at approximately $101,000. 43.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of RCM Technologies in a research note on Friday, March 27th. Zacks Research upgraded RCM Technologies from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold”.

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.