Q4 2022 EPS Estimates for RCM Technologies, Inc. Reduced by B. Riley (NASDAQ:RCMT) – MarketBeat
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RCM Technologies, Inc. (NASDAQ:RCMT – Get Rating) – Equities research analysts at B. Riley cut their Q4 2022 earnings per share (EPS) estimates for RCM Technologies in a report released on Monday, November 14th. B. Riley analyst A. Rygiel now forecasts that the business services provider will earn $0.45 per share for the quarter, down from their prior forecast of $0.50. B. Riley has a “Buy” rating and a $23.00 price target on the stock. The consensus estimate for RCM Technologies’ current full-year earnings is $1.98 per share.
Several other brokerages have also issued reports on RCMT. StockNews.com lowered RCM Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 11th. Benchmark upped their price objective on shares of RCM Technologies to $30.00 in a research note on Monday, August 15th.
RCM Technologies Price Performance
RCMT opened at $15.64 on Wednesday. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $153.90 million, a P/E ratio of 7.59 and a beta of 0.86. The stock has a 50-day moving average price of $16.55 and a 200-day moving average price of $18.64. RCM Technologies has a 12-month low of $5.22 and a 12-month high of $28.82.
Institutional Investors Weigh In On RCM Technologies
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC increased its stake in RCM Technologies by 21.2% in the 2nd quarter. Renaissance Technologies LLC now owns 737,965 shares of the business services provider’s stock worth $14,936,000 after purchasing an additional 128,992 shares during the period. Rutabaga Capital Management LLC MA raised its holdings in RCM Technologies by 36.7% during the 1st quarter. Rutabaga Capital Management LLC MA now owns 447,927 shares of the business services provider’s stock valued at $4,417,000 after buying an additional 120,168 shares during the last quarter. Hillsdale Investment Management Inc. raised its holdings in RCM Technologies by 72.6% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 228,490 shares of the business services provider’s stock valued at $3,814,000 after buying an additional 96,100 shares during the last quarter. Marshall Wace LLP purchased a new stake in RCM Technologies during the 3rd quarter valued at $1,497,000. Finally, Bank of Montreal Can grew its holdings in RCM Technologies by 450.2% in the 3rd quarter. Bank of Montreal Can now owns 85,274 shares of the business services provider’s stock worth $1,433,000 after acquiring an additional 69,774 shares during the last quarter. Institutional investors own 38.92% of the company’s stock.
RCM Technologies Company Profile
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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.
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