Shares of The Hackett Group Inc. (NASDAQ: HCKT) gained 0.33% to $15.40. The stock traded total volume of 82.096K shares lower than the average volume of 91.03K shares.
The Hackett Group, Inc. (NASDAQ: HCKT) reported Q2 2019 net revenue (gross revenue less reimbursable expenses) from continuing operations of $68.00M, down 1%, as compared to the same period in the prior year. Q2 2019 gross revenue from continuing operations was $73.50M, down 1% from the same period in the prior year.
At the end of the second quarter of 2019, the Company’s cash balances were $16.70M. During the quarter, the Company utilized cash to pay down outstanding debt of $3.00M. In addition, during the second quarter of 2019, the Company repurchased 93.0K shares of the Company’s common stock at an average price per share of $15.60 for a total of $1.50M. At the end of the second quarter of 2019, the Company’s remaining stock repurchase program authorization was $3.90M.
Based on the current economic outlook, the Company estimates total net revenue for the third quarter of 2019 to be in the range of $66.50M and $68.50M or gross revenue (inclusive of reimbursable expenses) to be in the range of $72.00M and $74.00M. The Company estimates pro forma diluted earnings per share for the third quarter of 2019 to be in the range of $0.27 and $0.29.
HCKT has the market capitalization of $462.15M and its EPS growth ratio for the past five years was 25.10%. The return on assets ratio of the Company was 11.10% while its return on investment ratio stands at 21.50%. Price to sales ratio was 1.67 while 78.30% of the stock was owned by institutional investors.