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R C M Tech Inc Down 19.17% To $15.33 After Earnings

Thursday, August 11, 2022 12:11 PM | InvestorsObserver Analysts
R C M Tech Inc Down 19.17% To $15.33 After Earnings

R C M Tech Inc (RCMT) said after close Wednesday that it earned $0.57 per share in quarter two 2022.

On the revenue line, the company reported $74.3 million, missing estimates by $4.8 million.

In the same quarter a year ago, the company earned $0.11 per share on revenue of $48.9 million.

The stock is down 19.17% to $15.33 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned R C M Tech Inc a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 74. Meanwhile, the average Wall Street analyst rated the stock a Buy.

RCM Technologies Inc is a provider of business and technology solutions designed to enhance and maximize the operational performance of its customers. It operates in three segments: Engineering, which provides a comprehensive portfolio of engineering and design services across three verticals: Energy Services, Process & Industrial, and Aerospace; Information Technology; and Specialty Health Care Services, engaged in providing the staffing of health care professionals, primarily health information management professionals, nurses, paraprofessionals, physicians, and therapists. The company generates maximum revenue from the Specialty Health Care segment. Geographically, it derives a majority of revenue from the United States and also has a presence in Canada, Puerto Rico, and Serbia.

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