Resources Connection (NASDAQ:RGP) Announces Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Resources Connection (NASDAQ:RGP - Get Free Report) announced its earnings results on Wednesday. The company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.04), Zacks reports. Resources Connection had a negative net margin of 10.55% and a positive return on equity of 3.75%. The company had revenue of $129.44 million during the quarter, compared to analysts' expectations of $130.00 million.

Resources Connection Trading Down 1.3 %

RGP stock traded down $0.07 during midday trading on Monday, hitting $5.13. The company had a trading volume of 945,195 shares, compared to its average volume of 406,104. Resources Connection has a 52 week low of $4.81 and a 52 week high of $12.19. The stock's 50 day moving average price is $7.36 and its 200 day moving average price is $8.14. The stock has a market cap of $169.76 million, a price-to-earnings ratio of -2.76 and a beta of 0.60.

Resources Connection Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 10.92%. The ex-dividend date of this dividend was Friday, February 14th. Resources Connection's dividend payout ratio is presently -17.07%.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. reduced their price objective on Resources Connection from $9.50 to $5.00 and set an "underweight" rating on the stock in a research report on Thursday.

Insider Buying and Selling

In other Resources Connection news, CEO Kate W. Duchene purchased 20,000 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The stock was bought at an average cost of $5.14 per share, for a total transaction of $102,800.00. Following the purchase, the chief executive officer now directly owns 571,451 shares in the company, valued at $2,937,258.14. The trade was a 3.63 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Roger D. Carlile acquired 25,000 shares of the company's stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average cost of $5.06 per share, for a total transaction of $126,500.00. Following the purchase, the director now directly owns 50,000 shares of the company's stock, valued at $253,000. This represents a 100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.39% of the stock is owned by insiders.

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.