Resources Connection (NASDAQ:RGP) Issues Quarterly Earnings Results, Beats Expectations By $0.18 EPS

Resources Connection (NASDAQ:RGP) posted its quarterly earnings data on Wednesday. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.18, Briefing.com reports. The business had revenue of $151.31 million during the quarter, compared to the consensus estimate of $152.77 million. Resources Connection had a return on equity of 8.14% and a net margin of 3.80%. The firm’s quarterly revenue was down 19.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.32 earnings per share.

Resources Connection Trading Down 6.5 %

NASDAQ:RGP traded down $0.80 during trading hours on Thursday, reaching $11.48. 449,303 shares of the company traded hands, compared to its average volume of 433,417. The business’s 50-day moving average price is $13.34 and its two-hundred day moving average price is $13.75. Resources Connection has a 1 year low of $10.59 and a 1 year high of $17.24. The stock has a market capitalization of $384.69 million, a P/E ratio of 14.41, a P/E/G ratio of 1.47 and a beta of 0.61.

Resources Connection Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 15th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date was Wednesday, February 14th. Resources Connection’s dividend payout ratio (DPR) is presently 70.89%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RGP. Covestor Ltd raised its position in Resources Connection by 483.7% in the 1st quarter. Covestor Ltd now owns 1,652 shares of the company’s stock worth $28,000 after buying an additional 1,369 shares during the last quarter. Quarry LP grew its stake in shares of Resources Connection by 70.2% in the first quarter. Quarry LP now owns 2,042 shares of the company’s stock worth $35,000 after acquiring an additional 842 shares during the period. Captrust Financial Advisors raised its holdings in shares of Resources Connection by 41.7% during the first quarter. Captrust Financial Advisors now owns 2,659 shares of the company’s stock valued at $46,000 after purchasing an additional 783 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in Resources Connection during the third quarter valued at approximately $61,000. Finally, UBS Group AG boosted its holdings in Resources Connection by 38.8% in the third quarter. UBS Group AG now owns 6,553 shares of the company’s stock worth $119,000 after purchasing an additional 1,833 shares during the last quarter. 93.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Resources Connection from a “buy” rating to a “hold” rating in a research report on Sunday, February 25th.

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.