Resources Connection (NASDAQ:RGP) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Resources Connection (NASDAQ:RGPFree Report) from a buy rating to a hold rating in a research report report published on Friday morning.

Resources Connection Trading Up 4.7 %

Shares of Resources Connection stock opened at $13.84 on Friday. The firm has a market capitalization of $463.78 million, a PE ratio of 17.52 and a beta of 0.62. Resources Connection has a 12 month low of $12.50 and a 12 month high of $18.48. The business’s 50-day moving average price is $13.68 and its 200-day moving average price is $14.35.

Resources Connection (NASDAQ:RGPGet Free Report) last issued its earnings results on Wednesday, January 3rd. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.11. Resources Connection had a return on equity of 8.14% and a net margin of 3.80%. The company had revenue of $163.13 million during the quarter, compared to analysts’ expectations of $161.92 million. During the same period in the prior year, the business posted $0.52 EPS. Resources Connection’s quarterly revenue was down 18.6% compared to the same quarter last year. As a group, analysts predict that Resources Connection will post 0.57 earnings per share for the current fiscal year.

Resources Connection Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 14th. Stockholders of record on Thursday, February 15th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 4.05%. The ex-dividend date is Wednesday, February 14th. Resources Connection’s dividend payout ratio is currently 70.89%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. First Trust Advisors LP bought a new position in Resources Connection during the 1st quarter valued at approximately $10,134,000. EA Series Trust bought a new position in Resources Connection during the 2nd quarter valued at approximately $3,486,000. Norges Bank bought a new position in Resources Connection during the 4th quarter valued at approximately $3,876,000. AQR Capital Management LLC increased its position in Resources Connection by 41.1% during the 3rd quarter. AQR Capital Management LLC now owns 555,153 shares of the company’s stock valued at $8,277,000 after buying an additional 161,632 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Resources Connection by 153.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 215,844 shares of the company’s stock valued at $4,397,000 after buying an additional 130,737 shares in the last quarter. Institutional investors own 83.96% of the company’s stock.

About Resources Connection

(Get Free Report)

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.

Further Reading

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