Resources Connection (NASDAQ:RGP) Issues 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 the consensus estimate 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 firm had revenue of $129.44 million during the quarter, compared to analyst estimates of $130.00 million.

Resources Connection Stock Down 2.3 %

Shares of RGP stock traded down $0.12 during trading hours on Friday, hitting $5.20. 963,626 shares of the company were exchanged, compared to its average volume of 405,174. The firm has a fifty day moving average of $7.36 and a 200 day moving average of $8.17. Resources Connection has a 1 year low of $4.81 and a 1 year high of $12.19. The firm has a market cap of $172.07 million, a PE ratio of -2.80 and a beta of 0.60.

Resources Connection Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 10.77%. The ex-dividend date was Friday, February 14th. Resources Connection's dividend payout ratio is currently -17.07%.

Insiders Place Their Bets

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

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Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. lowered their target price on shares of Resources Connection from $9.50 to $5.00 and set an "underweight" rating for the company in a research note on Thursday.

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.