Resources Connection, Inc. (RGP) to Issue Quarterly Dividend of $0.14 on December 16th

Resources Connection, Inc. (NASDAQ:RGP) declared a quarterly dividend on Monday, October 21st, Zacks reports. Investors 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 yield of 6.76%. The ex-dividend date is Friday, November 15th.

Resources Connection has a payout ratio of 41.8% meaning its dividend is sufficiently covered by earnings. Research 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 Stock Performance

RGP traded down $0.08 during trading on Wednesday, reaching $8.28. The company had a trading volume of 9,439 shares, compared to its average volume of 465,695. Resources Connection has a 12-month low of $8.13 and a 12-month high of $14.63. The firm’s 50-day simple moving average is $9.50 and its 200 day simple moving average is $10.49. The company has a market cap of $277.13 million, a price-to-earnings ratio of 23.22, a PEG ratio of 3.42 and a beta of 0.65.

Resources Connection (NASDAQ:RGP) last released its earnings results on Tuesday, October 1st. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.21). Resources Connection had a net margin of 2.04% and a return on equity of 3.69%. The business had revenue of $136.94 million for the quarter, compared to analysts’ expectations of $137.82 million. During the same period last year, the firm earned $0.14 EPS. The company’s revenue was down 19.5% compared to the same quarter last year. On average, sell-side analysts expect that Resources Connection will post 0.16 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. lowered their target price on Resources Connection from $12.00 to $11.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 23rd. StockNews.com cut Resources Connection from a “buy” rating to a “hold” rating in a research note on Saturday, July 27th.

Resources Connection Company Profile

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.