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

Resources Connection, Inc. (NASDAQ:RGP) declared a quarterly dividend on Thursday, October 17th,Zacks Dividends reports. Investors 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 yield of 6.40%. The ex-dividend date of this dividend 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 Price Performance

Shares of NASDAQ:RGP opened at $8.75 on Thursday. The company’s 50 day simple moving average is $8.91 and its 200 day simple moving average is $10.14. The stock has a market capitalization of $292.86 million, a price-to-earnings ratio of 24.31, a price-to-earnings-growth ratio of 3.61 and a beta of 0.67. Resources Connection has a 1 year low of $7.90 and a 1 year high of $14.63.

Resources Connection (NASDAQ:RGP) last announced its quarterly earnings data on Tuesday, October 1st. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.21). The firm had revenue of $136.94 million during the quarter, compared to the consensus estimate of $137.82 million. Resources Connection had a net margin of 2.04% and a return on equity of 3.69%. The business’s revenue was down 19.5% compared to the same quarter last year. During the same period last year, the business earned $0.14 earnings per share. As a group, analysts anticipate that Resources Connection will post 0.16 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on RGP. StockNews.com cut shares of Resources Connection from a “buy” rating to a “hold” rating in a research note on Saturday, July 27th. JPMorgan Chase & Co. decreased their target price on shares of Resources Connection from $12.00 to $11.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 23rd.

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.