Resources Connection, Inc. (NASDAQ:RGP) Announces $0.14 Quarterly Dividend

by · The Markets Daily

Resources Connection, Inc. (NASDAQ:RGP – Get Free Report) announced a quarterly dividend on Monday, October 21st, Zacks reports. Stockholders of record on Friday, November 15th will be paid a dividend of 0.14 per share on Monday, December 16th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 6.70%. The ex-dividend date of this dividend is Friday, November 15th.

Resources Connection has a dividend payout ratio of 41.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Resources Connection to earn $1.21 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 46.3%.

Resources Connection Trading Down 0.8 %

Shares of Resources Connection stock opened at $8.36 on Wednesday. The company has a 50 day moving average of $9.50 and a 200-day moving average of $10.49. Resources Connection has a 1-year low of $8.13 and a 1-year high of $14.63. The company has a market cap of $279.81 million, a PE ratio of 23.22, a price-to-earnings-growth ratio of 3.42 and a beta of 0.65.

Resources Connection (NASDAQ:RGP – Get Free Report) last issued its quarterly earnings results on Tuesday, October 1st. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.21). Resources Connection had a return on equity of 3.69% and a net margin of 2.04%. The firm had revenue of $136.94 million for the quarter, compared to the consensus estimate of $137.82 million. During the same period last year, the company posted $0.14 EPS. The business’s revenue was down 19.5% on a year-over-year basis. Research analysts forecast that Resources Connection will post 0.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

RGP has been the subject of several research reports. StockNews.com downgraded shares of Resources Connection from a “buy” rating to a “hold” rating in a research note on Saturday, July 27th. JPMorgan Chase & Co. dropped their price objective on shares of Resources Connection from $12.00 to $11.00 and set an “underweight” rating for the company in a research note on Tuesday, July 23rd.

Read Our Latest Research Report on Resources Connection

Resources Connection Company Profile

(Get Free Report)

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.

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