Resources Connection (RECN) will miss its quarterly guidance because of when Thanksgiving falls this year, according to Reuters. Revenue will only hit $200 million. Wall St. wanted $216.5 from the temp professional employee company.
Profit for the quarter ended Aug. 31 rose to $11.6 million, or 23 cents per share, from $11 million, or 22 cents per share, in the year ago period. Revenue rose 18 percent to $194.1 million from $165.1 million last year The company only trades at 1.9x sales.
But five firms downgraded the shares. That includes Piper Jaffray, JMP Securities, Bear Stearns, Robert W. Baird, and Stifel Nicolaus.
Not much holiday spirit in that.
Douglas A. McIntyre
Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the
advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
