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

Resources Connection (NASDAQ:RGP) announced its quarterly earnings data on Wednesday. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.18, Briefing.com reports. The firm had revenue of $151.31 million for the quarter, compared to analyst estimates of $152.77 million. Resources Connection had a return on equity of 6.86% and a net margin of 3.34%. The business’s quarterly revenue was down 19.0% compared to the same quarter last year. During the same period last year, the company earned $0.32 EPS.

Resources Connection Trading Down 7.6 %

NASDAQ RGP opened at $11.35 on Friday. Resources Connection has a 1-year low of $10.59 and a 1-year high of $17.24. The company has a 50 day moving average of $13.29 and a 200-day moving average of $13.73. The company has a market cap of $380.34 million, a price-to-earnings ratio of 17.20, a PEG ratio of 1.44 and a beta of 0.61.

Resources Connection Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 15th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date of this dividend was Wednesday, February 14th. Resources Connection’s dividend payout ratio is presently 84.85%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Robert W. Baird dropped their price objective on Resources Connection from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday. StockNews.com downgraded Resources Connection from a “buy” rating to a “hold” rating in a research note on Sunday, February 25th.

Institutional Investors Weigh In On Resources Connection

Hedge funds and other institutional investors have recently made changes to their positions in the business. Corient Private Wealth LLC raised its position in Resources Connection by 10.6% during the fourth quarter. Corient Private Wealth LLC now owns 12,745 shares of the company’s stock valued at $181,000 after purchasing an additional 1,217 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Resources Connection during the first quarter worth $179,000. Balyasny Asset Management L.P. bought a new stake in shares of Resources Connection during the first quarter worth $178,000. State of Wyoming grew its stake in shares of Resources Connection by 29.8% during the fourth quarter. State of Wyoming now owns 9,246 shares of the company’s stock worth $170,000 after buying an additional 2,124 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Resources Connection during the second quarter worth $165,000. 93.23% of the stock is currently owned by institutional investors and hedge funds.

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.