Resources Connection (NASDAQ:RGP) Posts Quarterly Earnings Results

Resources Connection (NASDAQ:RGP) announced its quarterly earnings results on Tuesday. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.27 by $0.16, MarketWatch Earnings reports. Resources Connection had a net margin of 4.01% and a return on equity of 11.55%. The company had revenue of $183.14 million for the quarter, compared to analyst estimates of $175.75 million. During the same quarter last year, the business earned $0.10 earnings per share. Resources Connection’s revenue was up 24.3% compared to the same quarter last year.

Shares of Resources Connection stock opened at $16.71 on Thursday. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 0.13. The firm has a market cap of $554.55 million, a price-to-earnings ratio of 21.99 and a beta of 1.03. The business has a fifty day simple moving average of $15.42 and a 200-day simple moving average of $14.71. Resources Connection has a fifty-two week low of $10.61 and a fifty-two week high of $16.71.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 23rd. Shareholders of record on Thursday, August 26th were given a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, August 25th. This represents a $0.56 dividend on an annualized basis and a yield of 3.35%. Resources Connection’s dividend payout ratio (DPR) is 49.12%.

Several equities research analysts have commented on the stock. Zacks Investment Research lowered shares of Resources Connection from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 22nd. Robert W. Baird raised their price target on shares of Resources Connection from $16.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday.

An institutional investor recently raised its position in Resources Connection stock. Morgan Stanley increased its position in Resources Connection, Inc. (NASDAQ:RGP) by 112.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 253,816 shares of the company’s stock after buying an additional 134,515 shares during the quarter. Morgan Stanley owned about 0.77% of Resources Connection worth $3,645,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 75.79% of the company’s stock.

About Resources Connection

Resources Connection Inc engages in the provision of business consulting services. It offers consulting and business initiative support services to its global client base in the areas of accounting, finance, corporate governance risk and compliance management, corporate advisory strategic communications and restructuring, information management, human capital, supply chain management, healthcare solutions, and legal and regulatory.

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Earnings History for Resources Connection (NASDAQ:RGP)

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