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

Resources Connection, Inc. (NASDAQ:RGP) declared a quarterly dividend on Thursday, April 18th, Zacks reports. Stockholders of record on Thursday, May 16th will be paid a dividend of 0.14 per share on Thursday, June 13th. This represents a $0.56 dividend on an annualized basis 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 Trading Up 2.0 %

Shares of NASDAQ:RGP opened at $11.27 on Friday. The stock’s 50-day moving average price is $12.89 and its 200-day moving average price 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 capitalization of $381.04 million, a P/E ratio of 17.08, a price-to-earnings-growth ratio of 2.30 and a beta of 0.61.

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

Analysts Set New Price Targets

Several analysts recently issued reports on the company. StockNews.com cut Resources Connection from a “buy” rating to a “hold” rating in a research note on Sunday, February 25th. Robert W. Baird lowered their price objective on shares of Resources Connection from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday, April 4th.

Hedge Funds Weigh In On Resources Connection

Large investors have recently made changes to their positions in the business. Covestor Ltd raised its holdings 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 acquiring an additional 1,369 shares during the last quarter. Quarry LP raised its holdings in Resources Connection by 70.2% in the 1st quarter. Quarry LP now owns 2,042 shares of the company’s stock worth $35,000 after acquiring an additional 842 shares during the last quarter. Captrust Financial Advisors raised its holdings in Resources Connection by 41.7% in the 1st quarter. Captrust Financial Advisors now owns 2,659 shares of the company’s stock worth $46,000 after acquiring an additional 783 shares during the last quarter. Qube Research & Technologies Ltd purchased a new position in Resources Connection in the 3rd quarter worth approximately $61,000. Finally, UBS Group AG raised its holdings in Resources Connection by 38.8% in the 3rd quarter. UBS Group AG now owns 6,553 shares of the company’s stock worth $119,000 after acquiring an additional 1,833 shares during the last quarter. 93.23% of the stock is currently owned by hedge funds and other institutional investors.

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.