RCM Technologies (NASDAQ:RCMT) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

RCM Technologies (NASDAQ:RCMT – Get Rating) announced its earnings results on Wednesday. The business services provider reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.02, Yahoo Finance reports. RCM Technologies had a net margin of 7.88% and a return on equity of 61.19%.

RCM Technologies Trading Down 3.7 %

RCMT stock opened at $12.46 on Thursday. The company has a market capitalization of $122.61 million, a PE ratio of 6.05 and a beta of 0.87. RCM Technologies has a 12 month low of $7.36 and a 12 month high of $28.82. The firm’s 50-day moving average is $13.63 and its 200 day moving average is $14.89. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.52 and a quick ratio of 1.52.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its stake in RCM Technologies by 2.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 539,317 shares of the business services provider’s stock worth $5,318,000 after buying an additional 11,603 shares during the period. Marshall Wace LLP purchased a new position in RCM Technologies during the 3rd quarter valued at about $1,497,000. Millennium Management LLC increased its position in RCM Technologies by 382.3% during the 4th quarter. Millennium Management LLC now owns 54,572 shares of the business services provider’s stock valued at $673,000 after purchasing an additional 43,257 shares during the period. Man Group plc increased its position in RCM Technologies by 72.2% during the 4th quarter. Man Group plc now owns 37,877 shares of the business services provider’s stock valued at $467,000 after purchasing an additional 15,877 shares during the period. Finally, State Street Corp increased its position in RCM Technologies by 3.6% during the 1st quarter. State Street Corp now owns 25,955 shares of the business services provider’s stock valued at $256,000 after purchasing an additional 900 shares during the period. Hedge funds and other institutional investors own 40.53% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of RCM Technologies in a research note on Thursday. They issued a “buy” rating on the stock.

About RCM Technologies

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RCM Technologies, Inc engages in the provision of business and technology solutions. It operates through the following segments: Engineering, Specialty Health Care, and Information Technology. The Engineering segment offers a portfolio of engineering and design services across energy services, process and industrial, and aerospace sectors.