Resources Connection (NASDAQ:RGP) Announces Quarterly Earnings Results, Beats Estimates By $0.16 EPS

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

Shares of Resources Connection stock opened at $16.71 on Thursday. The stock’s 50-day simple moving average is $15.42 and its 200-day simple moving average is $14.71. Resources Connection has a 52 week low of $10.61 and a 52 week high of $16.71. The company has a market capitalization of $554.55 million, a price-to-earnings ratio of 21.99 and a beta of 1.03. 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 also recently disclosed a quarterly dividend, which was paid on Thursday, September 23rd. Stockholders 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 annualized dividend and a dividend yield of 3.35%. Resources Connection’s payout ratio is 49.12%.

Several equities analysts recently weighed in on RGP shares. Zacks Investment Research downgraded Resources Connection from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 22nd. Robert W. Baird lifted their target price on Resources Connection from $16.00 to $19.00 and gave the company a “neutral” rating in a research report on Thursday.

An institutional investor recently raised its position in Resources Connection stock. Morgan Stanley grew its holdings in Resources Connection, Inc. (NASDAQ:RGP) by 112.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 253,816 shares of the company’s stock after acquiring an additional 134,515 shares during the period. Morgan Stanley owned about 0.77% of Resources Connection worth $3,645,000 as of its most recent filing with the Securities & Exchange Commission. 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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