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

Resources Connection, Inc. (NASDAQ:RGP) announced a quarterly dividend on Thursday, April 18th, Zacks reports. Stockholders 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 dividend yield of 4.97%. The ex-dividend date of this dividend is Wednesday, May 15th.

Resources Connection has a dividend payout ratio of 34.6% indicating that its dividend is sufficiently covered by earnings. Equities 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. Resources Connection has a 12-month low of $10.59 and a 12-month high of $17.24. The company has a market cap of $381.04 million, a price-to-earnings ratio of 17.08, a PEG ratio of 2.30 and a beta of 0.61. The company’s 50-day moving average price is $12.89 and its 200-day moving average price is $13.47.

Resources Connection (NASDAQ:RGP) last announced its earnings results on Wednesday, April 3rd. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.18. The business had revenue of $151.31 million for the quarter, compared to the consensus estimate of $152.77 million. Resources Connection had a net margin of 3.34% and a return on equity of 6.86%. Resources Connection’s quarterly revenue was down 19.0% on a year-over-year basis. During the same period last year, the firm posted $0.32 earnings per share. On average, sell-side analysts predict that Resources Connection will post 0.32 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. BlackRock Inc. raised its stake in shares of Resources Connection by 1.0% during the third quarter. BlackRock Inc. now owns 5,202,277 shares of the company’s stock worth $94,006,000 after acquiring an additional 53,297 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Resources Connection by 4.2% in 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. Vanguard Group Inc. grew its holdings in shares of Resources Connection by 1.9% in the third quarter. Vanguard Group Inc. now owns 2,304,513 shares of the company’s stock worth $41,642,000 after purchasing an additional 42,857 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Resources Connection by 71.6% in 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. Finally, State Street Corp grew its holdings in shares of Resources Connection by 1.2% in the first quarter. State Street Corp now owns 1,396,437 shares of the company’s stock worth $23,822,000 after purchasing an additional 16,987 shares during the last quarter. 93.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RGP has been the topic of a number of recent analyst reports. Robert W. Baird lowered their target price on shares of Resources Connection from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, April 4th. StockNews.com downgraded shares of Resources Connection from a “buy” rating to a “hold” rating in a research note on Sunday, February 25th.

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.