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

Resources Connection, Inc. (NASDAQ:RGP) declared a quarterly dividend on Thursday, April 18th, Zacks reports. Stockholders of record on Thursday, May 16th will be given a dividend of 0.14 per share on Thursday, June 13th. This represents a $0.56 annualized dividend and a dividend yield of 4.97%. The ex-dividend date of this dividend is Wednesday, May 15th.

Resources Connection has a payout ratio of 34.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Resources Connection to earn $0.93 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 60.2%.

Resources Connection Stock Up 2.0 %

Resources Connection stock opened at $11.27 on Friday. The company’s fifty day simple moving average is $12.89 and its 200-day simple moving average is $13.47. Resources Connection has a 12 month low of $10.59 and a 12 month high of $17.24. The stock has a market cap of $381.04 million, a P/E ratio of 17.08, a P/E/G ratio of 2.30 and a beta of 0.61.

Resources Connection (NASDAQ:RGP) last posted its quarterly earnings results on Wednesday, April 3rd. The company reported $0.17 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.18. Resources Connection had a net margin of 3.34% and a return on equity of 6.86%. The business had revenue of $151.31 million for the quarter, compared to analysts’ expectations of $152.77 million. During the same period in the previous year, the company posted $0.32 EPS. Resources Connection’s revenue was down 19.0% on a year-over-year basis. On average, equities research analysts expect that Resources Connection will post 0.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Corient Private Wealth LLC lifted its position in Resources Connection by 10.6% during the 4th quarter. Corient Private Wealth LLC now owns 12,745 shares of the company’s stock worth $181,000 after acquiring an additional 1,217 shares during the last quarter. Jane Street Group LLC acquired a new position in Resources Connection during the 1st quarter worth $179,000. Balyasny Asset Management L.P. acquired a new position in Resources Connection during the 1st quarter worth $178,000. State of Wyoming lifted its position in Resources Connection by 29.8% during the 4th quarter. State of Wyoming now owns 9,246 shares of the company’s stock worth $170,000 after acquiring an additional 2,124 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Resources Connection during the second quarter valued at about $165,000. Institutional investors and hedge funds own 93.23% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on RGP. Robert W. Baird lowered their price target on shares of Resources Connection from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, April 4th. StockNews.com cut shares of Resources Connection from a “buy” rating to a “hold” rating in a report on Sunday, February 25th.

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.