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

Resources Connection, Inc. (NASDAQ:RGP) announced 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% meaning 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 Trading Up 2.0 %

Shares of Resources Connection stock opened at $11.27 on Friday. The company has a fifty day moving average price of $12.89 and a 200 day moving average price of $13.47. Resources Connection has a twelve month low of $10.59 and a twelve month high of $17.24. The stock has a market cap of $381.04 million, a price-to-earnings ratio of 17.08, a price-to-earnings-growth ratio of 2.30 and a beta of 0.61.

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on RGP shares. StockNews.com cut shares of Resources Connection from a “buy” rating to a “hold” rating in a research report on Sunday, February 25th. Robert W. Baird decreased 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.

Hedge Funds Weigh In On Resources Connection

Several large investors have recently modified their holdings of RGP. First Trust Advisors LP lifted its position in shares of Resources Connection by 71.6% during the fourth quarter. First Trust Advisors LP now owns 1,704,381 shares of the company’s stock worth $24,151,000 after purchasing an additional 711,037 shares during the last quarter. Norges Bank bought a new position in shares of Resources Connection during the fourth quarter worth about $3,876,000. JPMorgan Chase & Co. lifted its position in shares of Resources Connection by 153.6% during the second quarter. JPMorgan Chase & Co. now owns 215,844 shares of the company’s stock worth $4,397,000 after purchasing an additional 130,737 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Resources Connection by 4.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,580,280 shares of the company’s stock worth $44,019,000 after purchasing an additional 104,858 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Resources Connection by 52.1% during the first quarter. AQR Capital Management LLC now owns 288,108 shares of the company’s stock worth $4,915,000 after purchasing an additional 98,707 shares during the last quarter. Institutional investors own 93.23% of the company’s stock.

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.