Resources Connection, Inc. (RGP) to Issue Quarterly Dividend of $0.14 on June 13th

Resources Connection, Inc. (NASDAQ:RGP) announced a quarterly dividend on Thursday, April 18th, Zacks reports. Investors of record on Thursday, May 16th will be given a dividend of 0.14 per share on Thursday, June 13th. This represents a $0.56 annualized dividend and a yield of 4.97%. The ex-dividend date of this dividend is Wednesday, May 15th.

Resources Connection has a dividend payout ratio of 34.6% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Stock Up 2.0 %

NASDAQ:RGP opened at $11.27 on Friday. The stock’s 50 day moving average price is $12.89 and its two-hundred day moving average price is $13.47. The firm has a market capitalization of $381.04 million, a price-to-earnings ratio of 17.08, a P/E/G ratio of 2.30 and a beta of 0.61. Resources Connection has a 12-month low of $10.59 and a 12-month high of $17.24.

Resources Connection (NASDAQ:RGP) last released its quarterly earnings data on Wednesday, April 3rd. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.18. 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 revenue for the quarter 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. Equities research analysts expect that Resources Connection will post 0.32 EPS for the current year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Resources Connection

Institutional investors and hedge funds have recently made changes to their positions in the company. Covestor Ltd grew its position in Resources Connection by 483.7% during the first quarter. Covestor Ltd now owns 1,652 shares of the company’s stock worth $28,000 after buying an additional 1,369 shares in the last quarter. Quarry LP grew its position in Resources Connection by 70.2% during the first quarter. Quarry LP now owns 2,042 shares of the company’s stock worth $35,000 after buying an additional 842 shares in the last quarter. Captrust Financial Advisors grew its position in Resources Connection by 41.7% during the first quarter. Captrust Financial Advisors now owns 2,659 shares of the company’s stock worth $46,000 after buying an additional 783 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in Resources Connection during the third quarter worth approximately $61,000. Finally, Point72 Middle East FZE acquired a new stake in Resources Connection during the second quarter worth approximately $118,000. Institutional investors and hedge funds own 93.23% of the company’s stock.

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.