Resources Connection (NASDAQ:RGP) Issues Quarterly Earnings Results

Resources Connection (NASDAQ:RGP) announced its quarterly earnings data on Tuesday. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.21), Zacks reports. The company had revenue of $136.94 million during the quarter, compared to the consensus estimate of $137.82 million. Resources Connection had a return on equity of 6.19% and a net margin of 3.32%. The business’s revenue was down 19.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.14 EPS.

Resources Connection Stock Down 2.4 %

NASDAQ RGP opened at $9.47 on Wednesday. The company’s 50 day moving average is $10.25 and its 200-day moving average is $10.93. The firm has a market cap of $316.96 million, a P/E ratio of 14.35, a price-to-earnings-growth ratio of 1.42 and a beta of 0.65. Resources Connection has a 12-month low of $9.26 and a 12-month high of $14.97.

Resources Connection Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 23rd were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 5.91%. The ex-dividend date of this dividend was Friday, August 23rd. Resources Connection’s dividend payout ratio (DPR) is currently 84.85%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. StockNews.com lowered shares of Resources Connection from a “buy” rating to a “hold” rating in a research report on Saturday, July 27th. JPMorgan Chase & Co. lowered their price objective on shares of Resources Connection from $12.00 to $11.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $13.00.

Insider Buying and Selling

In other Resources Connection news, CFO Jennifer Y. Ryu sold 11,650 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $11.25, for a total value of $131,062.50. Following the completion of the transaction, the chief financial officer now owns 84,481 shares of the company’s stock, valued at approximately $950,411.25. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Resources Connection news, CFO Jennifer Y. Ryu sold 11,650 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $11.25, for a total value of $131,062.50. Following the completion of the transaction, the chief financial officer now owns 84,481 shares of the company’s stock, valued at approximately $950,411.25. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Roger D. Carlile purchased 25,000 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was bought at an average cost of $11.25 per share, with a total value of $281,250.00. Following the purchase, the director now owns 25,000 shares in the company, valued at $281,250. The disclosure for this purchase can be found here. 7.36% of the stock is currently owned by insiders.

About Resources Connection

Resources Connection, Inc provides consulting services to business customers under the Resources Global Professionals name in North America, Europe, and the Asia Pacific. The company offers services in the areas of transactions, including integration and divestitures, bankruptcy/restructuring, going public readiness and support, financial process optimization, and system implementation; and regulations, such as accounting regulations, internal audit and compliance, data privacy and security, healthcare compliance, and regulatory compliance.