Resources Connection (NASDAQ:RGP) Posts Earnings Results, Misses Expectations By $0.21 EPS

Resources Connection (NASDAQ:RGP) announced its quarterly earnings results on Tuesday. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.21), Zacks reports. The company had revenue of $136.94 million during the quarter, compared to the consensus estimate of $137.82 million. Resources Connection had a return on equity of 6.19% and a net margin of 3.32%. The company’s revenue for the quarter was down 19.5% on a year-over-year basis. During the same period last year, the business posted $0.14 EPS.

Resources Connection Trading Up 0.1 %

NASDAQ:RGP opened at $8.36 on Friday. Resources Connection has a 1-year low of $8.17 and a 1-year high of $14.72. The business’s fifty day moving average price is $10.12 and its 200 day moving average price is $10.89. The firm has a market capitalization of $282.63 million, a price-to-earnings ratio of 12.67, a PEG ratio of 1.42 and a beta of 0.65.

Resources Connection Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 23rd were given a $0.14 dividend. The ex-dividend date was Friday, August 23rd. This represents a $0.56 annualized dividend and a dividend yield of 6.70%. Resources Connection’s dividend payout ratio (DPR) is presently 84.85%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. StockNews.com lowered shares of Resources Connection from a “buy” rating to a “hold” rating in a research note on Saturday, July 27th. JPMorgan Chase & Co. lowered their target price on Resources Connection from $12.00 to $11.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $13.00.

Insider Transactions at Resources Connection

In other news, Director Roger D. Carlile bought 25,000 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were bought at an average cost of $11.25 per share, with a total value of $281,250.00. Following the transaction, the director now directly owns 25,000 shares in the company, valued at approximately $281,250. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Roger D. Carlile bought 25,000 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were bought at an average cost of $11.25 per share, for a total transaction of $281,250.00. Following the completion of the acquisition, the director now directly owns 25,000 shares in the company, valued at $281,250. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jennifer Y. Ryu sold 11,650 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $11.25, for a total value of $131,062.50. Following the completion of the sale, the chief financial officer now owns 84,481 shares of the company’s stock, valued at $950,411.25. The disclosure for this sale can be found here. 7.36% of the stock is owned by insiders.

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.