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

Resources Connection, Inc. (NASDAQ:RGP) announced a quarterly dividend on Monday, October 21st, Zacks reports. Investors of record on Friday, November 15th will be given a dividend of 0.14 per share on Monday, December 16th. This represents a $0.56 annualized dividend and a yield of 6.76%. The ex-dividend date of this dividend is Friday, November 15th.

Resources Connection has a dividend payout ratio of 41.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Resources Connection to earn $1.21 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 46.3%.

Resources Connection Price Performance

RGP traded down $0.08 on Wednesday, hitting $8.28. The company had a trading volume of 9,439 shares, compared to its average volume of 465,695. The company’s fifty day moving average price is $9.50 and its 200 day moving average price is $10.49. Resources Connection has a 1-year low of $8.13 and a 1-year high of $14.63. The stock has a market cap of $277.13 million, a price-to-earnings ratio of 23.22, a price-to-earnings-growth ratio of 3.42 and a beta of 0.65.

Resources Connection (NASDAQ:RGP) last posted its earnings results on Tuesday, October 1st. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.21). Resources Connection had a return on equity of 3.69% and a net margin of 2.04%. The company had revenue of $136.94 million during the quarter, compared to analyst estimates of $137.82 million. During the same quarter last year, the firm posted $0.14 earnings per share. The firm’s revenue for the quarter was down 19.5% compared to the same quarter last year. On average, sell-side analysts forecast that Resources Connection will post 0.16 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. cut their price target on Resources Connection from $12.00 to $11.00 and set an “underweight” rating for the company in a report on Tuesday, July 23rd. StockNews.com lowered Resources Connection from a “buy” rating to a “hold” rating in a report on Saturday, July 27th.

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.