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

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

Resources Connection has a dividend payout ratio of 34.6% indicating that its dividend is sufficiently covered by earnings. 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 %

Shares of RGP opened at $11.27 on Friday. The firm has a 50-day moving average price of $12.89 and a 200 day moving average price of $13.47. The firm has a market capitalization of $381.04 million, a PE ratio of 17.08, a P/E/G ratio of 2.30 and a beta of 0.61. Resources Connection has a 52-week low of $10.59 and a 52-week high of $17.24.

Resources Connection (NASDAQ:RGP) last announced its earnings results on Wednesday, April 3rd. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.18. The firm had revenue of $151.31 million during the quarter, compared to analyst estimates of $152.77 million. Resources Connection had a net margin of 3.34% and a return on equity of 6.86%. Resources Connection’s revenue was down 19.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.32 EPS. On average, equities analysts expect that Resources Connection will post 0.32 EPS for the current year.

Institutional Trading of Resources Connection

A number of hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio lifted its stake in Resources Connection by 36.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 27,430 shares of the company’s stock valued at $389,000 after buying an additional 7,277 shares in the last quarter. Barclays PLC lifted its position in shares of Resources Connection by 110.9% in the fourth quarter. Barclays PLC now owns 78,369 shares of the company’s stock worth $1,111,000 after purchasing an additional 41,203 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of Resources Connection by 1.1% in the fourth quarter. Nuveen Asset Management LLC now owns 98,769 shares of the company’s stock worth $1,400,000 after purchasing an additional 1,070 shares in the last quarter. Public Sector Pension Investment Board lifted its position in shares of Resources Connection by 68.0% in the fourth quarter. Public Sector Pension Investment Board now owns 66,437 shares of the company’s stock worth $941,000 after purchasing an additional 26,899 shares in the last quarter. Finally, Bridgeway Capital Management LLC lifted its position in shares of Resources Connection by 32.9% in the fourth quarter. Bridgeway Capital Management LLC now owns 249,090 shares of the company’s stock worth $3,530,000 after purchasing an additional 61,605 shares in the last quarter. 93.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on RGP. Robert W. Baird reduced their price objective on shares of Resources Connection from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, April 4th. StockNews.com lowered shares of Resources Connection from a “buy” rating to a “hold” rating in a research report on Sunday, February 25th.

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.