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

Resources Connection, Inc. (NASDAQ:RGP - Get Free Report) declared a quarterly dividend on Thursday, October 17th, Zacks reports. Shareholders 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 6.80%. The ex-dividend date of this dividend is Friday, November 15th.

Resources Connection has a dividend payout ratio of 41.8% meaning its dividend is sufficiently covered by earnings. 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 Stock Down 1.6 %

RGP stock traded down $0.13 during trading on Wednesday, reaching $8.23. 285,028 shares of the company's stock were exchanged, compared to its average volume of 467,065. Resources Connection has a 1-year low of $8.13 and a 1-year high of $14.63. The company's fifty day moving average price is $9.47 and its 200-day moving average price is $10.47. The firm has a market cap of $275.46 million, a PE ratio of 22.89, a P/E/G ratio of 3.42 and a beta of 0.65.

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RGP. JPMorgan Chase & Co. cut their price objective on Resources Connection from $12.00 to $11.00 and set an "underweight" rating for the company in a report on Tuesday, July 23rd. StockNews.com lowered 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.