Brokerages Expect The Hackett Group, Inc. (HCKT) Will Announce Quarterly Sales of $70.66 Million
Equities analysts predict that The Hackett Group, Inc. (NASDAQ:HCKT) will announce $70.66 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for The Hackett Group’s earnings, with the lowest sales estimate coming in at $70.20 million and the highest estimate coming in at $71.00 million. The Hackett Group reported sales of $74.12 million during the same quarter last year, which suggests a negative year over year growth rate of 4.7%. The business is scheduled to announce its next earnings report on Monday, November 6th.
On average, analysts expect that The Hackett Group will report full year sales of $70.66 million for the current financial year, with estimates ranging from $283.24 million to $287.50 million. For the next fiscal year, analysts anticipate that the company will post sales of $301.19 million per share, with estimates ranging from $296.46 million to $309.00 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover The Hackett Group.
The Hackett Group (NASDAQ:HCKT) last released its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by $0.02. The business had revenue of $73.60 million during the quarter, compared to the consensus estimate of $74.36 million. The Hackett Group had a return on equity of 27.74% and a net margin of 8.42%. The business’s revenue was down 2.6% on a year-over-year basis. During the same period last year, the company earned $0.24 EPS.
Several research firms have recently commented on HCKT. Craig Hallum lowered shares of The Hackett Group from a “buy” rating to a “hold” rating and set a $18.00 price target on the stock. in a research report on Wednesday, May 10th. Zacks Investment Research upgraded shares of The Hackett Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 18th. BidaskClub upgraded shares of The Hackett Group from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. SunTrust Banks, Inc. began coverage on shares of The Hackett Group in a research report on Thursday, June 15th. They issued a “buy” rating and a $19.00 price target on the stock. Finally, Roth Capital lowered shares of The Hackett Group from a “buy” rating to a “neutral” rating and set a $20.00 price target on the stock. in a research report on Wednesday, May 10th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $20.00.
The Hackett Group (HCKT) remained flat at $13.52 during midday trading on Tuesday. The stock had a trading volume of 84,371 shares. The stock has a market capitalization of $390.31 million, a price-to-earnings ratio of 18.00 and a beta of 0.78. The company has a 50-day moving average price of $15.24 and a 200 day moving average price of $16.93. The Hackett Group has a 52-week low of $13.24 and a 52-week high of $20.69.
The Hackett Group announced that its Board of Directors has initiated a share buyback program on Monday, May 15th that permits the company to buyback $5.00 million in outstanding shares. This buyback authorization permits the business services provider to reacquire up to 1.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
Hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of The Hackett Group during the second quarter worth about $116,000. Victory Capital Management Inc. raised its stake in shares of The Hackett Group by 17.6% in the second quarter. Victory Capital Management Inc. now owns 7,522 shares of the business services provider’s stock worth $117,000 after buying an additional 1,127 shares during the period. Mountain Capital Investment Advisors Inc purchased a new stake in shares of The Hackett Group during the second quarter worth about $124,000. Frontier Wealth Management LLC purchased a new stake in shares of The Hackett Group during the second quarter worth about $171,000. Finally, Voya Investment Management LLC purchased a new stake in shares of The Hackett Group during the second quarter worth about $175,000. Hedge funds and other institutional investors own 82.04% of the company’s stock.
About The Hackett Group
The Hackett Group, Inc is an advisory and technology consulting company. The Company’s services include business transformation, enterprise performance management, working capital management and global business services. The Company is engaged in providing business and technology consulting services.
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