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

Resources Connection, Inc. (NASDAQ:RGP) announced a quarterly dividend on Monday, October 21st, Zacks reports. Stockholders 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 dividend yield of 6.70%. The ex-dividend date is Friday, November 15th.

Resources Connection has a payout ratio of 41.8% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Down 0.8 %

RGP opened at $8.36 on Wednesday. Resources Connection has a 12-month low of $8.13 and a 12-month high of $14.63. The company has a market cap of $279.81 million, a price-to-earnings ratio of 23.22, a PEG ratio of 3.42 and a beta of 0.65. The company’s 50 day moving average is $9.50 and its 200 day moving average is $10.49.

Resources Connection (NASDAQ:RGP) last released its quarterly earnings data on Tuesday, October 1st. The company reported ($0.17) earnings per share (EPS) 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 company had revenue of $136.94 million for the quarter, compared to the consensus estimate of $137.82 million. During the same quarter in the previous year, the business earned $0.14 EPS. The company’s quarterly revenue was down 19.5% on a year-over-year basis. As a group, analysts predict that Resources Connection will post 0.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RGP has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Resources Connection from $12.00 to $11.00 and set an “underweight” rating for the company in a research note on Tuesday, July 23rd. StockNews.com downgraded Resources Connection from a “buy” rating to a “hold” rating in a report 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.