FY2023 EPS Estimates for RCM Technologies, Inc. Cut by Analyst (NASDAQ:RCMT)

RCM Technologies, Inc. (NASDAQ:RCMTGet Rating) – Research analysts at B. Riley lowered their FY2023 earnings estimates for shares of RCM Technologies in a report released on Monday, November 14th. B. Riley analyst A. Rygiel now forecasts that the business services provider will post earnings per share of $2.19 for the year, down from their prior estimate of $2.21. B. Riley currently has a “Buy” rating and a $23.00 target price on the stock. The consensus estimate for RCM Technologies’ current full-year earnings is $1.98 per share.

Several other research analysts also recently weighed in on the stock. StockNews.com downgraded shares of RCM Technologies from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 11th. Benchmark lifted their target price on shares of RCM Technologies to $30.00 in a research note on Monday, August 15th.

RCM Technologies Stock Down 0.8 %

RCMT stock opened at $15.62 on Thursday. The company has a current ratio of 1.52, a quick ratio of 1.53 and a debt-to-equity ratio of 0.04. The firm’s 50-day moving average is $16.53 and its two-hundred day moving average is $18.60. RCM Technologies has a 52 week low of $5.22 and a 52 week high of $28.82. The company has a market capitalization of $153.73 million, a price-to-earnings ratio of 7.58 and a beta of 0.86.

Insider Activity at RCM Technologies

In other news, Director Roger H. Ballou sold 23,200 shares of the firm’s stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $15.93, for a total transaction of $369,576.00. Following the completion of the transaction, the director now directly owns 159,382 shares of the company’s stock, valued at approximately $2,538,955.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 23.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RCMT. JPMorgan Chase & Co. bought a new stake in shares of RCM Technologies during the second quarter worth about $52,000. Citigroup Inc. acquired a new position in shares of RCM Technologies during the first quarter worth approximately $26,000. Denali Advisors LLC acquired a new position in shares of RCM Technologies during the second quarter worth approximately $55,000. Group One Trading L.P. grew its holdings in RCM Technologies by 133.7% during the third quarter. Group One Trading L.P. now owns 2,737 shares of the business services provider’s stock worth $46,000 after buying an additional 1,566 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new position in RCM Technologies in the 2nd quarter valued at $60,000. Institutional investors own 38.92% of the company’s stock.

About RCM Technologies

(Get Rating)

RCM Technologies, Inc provides business and technology solutions in the United States, Canada, Puerto Rico, and Serbia. It operates through three segments: Engineering, Specialty Health Care, and Life Sciences and Information Technology. The Engineering segment offers a range of engineering services, including project management engineering and design, engineering analysis, engineer-procure-construct, configuration management, hardware/software validation and verification, quality assurance, technical writing and publications, manufacturing process planning and improvement, and 3D/BIM integrated design.

Recommended Stories

Receive News & Ratings for RCM Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RCM Technologies and related companies with MarketBeat.com's FREE daily email newsletter.