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

Resources Connection (NASDAQ:RGP) posted its quarterly earnings results on Wednesday. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.04), FiscalAI reports. The business had revenue of $107.93 million for the quarter, compared to analyst estimates of $108.19 million. Resources Connection had a negative net margin of 26.13% and a positive return on equity of 0.62%.

Resources Connection Price Performance

Resources Connection stock traded down $0.06 during trading hours on Wednesday, hitting $3.52. The company had a trading volume of 552,064 shares, compared to its average volume of 410,122. The firm has a market capitalization of $117.93 million, a P/E ratio of -0.88 and a beta of 0.45. The firm’s fifty day moving average is $3.84 and its 200-day moving average is $4.45. Resources Connection has a fifty-two week low of $3.42 and a fifty-two week high of $6.30.

Resources Connection Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, February 20th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 8.0%. The ex-dividend date was Friday, February 20th. Resources Connection’s dividend payout ratio is currently -6.97%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Mackenzie Financial Corp increased its position in Resources Connection by 20.6% in the 3rd quarter. Mackenzie Financial Corp now owns 21,134 shares of the company’s stock worth $107,000 after purchasing an additional 3,607 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in Resources Connection in the 3rd quarter worth about $92,000. Sherbrooke Park Advisers LLC acquired a new position in Resources Connection in the 3rd quarter worth about $87,000. Mercer Global Advisors Inc. ADV acquired a new position in Resources Connection in the 3rd quarter worth about $85,000. Finally, Deutsche Bank AG acquired a new position in shares of Resources Connection during the 4th quarter worth $80,000. 93.23% of the stock is owned by institutional investors and hedge funds.

About Resources Connection

Resources Connection, Inc (NASDAQ: RGP) is a publicly traded professional services firm that specializes in providing independent consulting and project-based teams to help organizations manage critical business challenges. Operating under the RGP brand, the company connects highly skilled consultants with clients seeking support in areas such as finance and accounting, legal and risk management, supply chain optimization, technology implementation, and digital transformation.

RGP’s consultants bring specific industry and functional expertise to engagements, working on a flexible basis that allows clients to scale resources up or down as needed.