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

Resources Connection, Inc. (NASDAQ:RGP) announced a quarterly dividend on Thursday, October 17th,Zacks Dividends reports. Shareholders of record on Friday, November 15th will be paid a dividend of 0.14 per share on Monday, December 16th. This represents a $0.56 annualized dividend and a yield of 6.27%. The ex-dividend date is Friday, November 15th.

Resources Connection has a payout ratio of 41.8% meaning its dividend is sufficiently covered by earnings. Research 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 Stock Down 0.1 %

Shares of RGP stock opened at $8.93 on Wednesday. The stock has a market cap of $298.89 million, a P/E ratio of 24.81, a PEG ratio of 3.61 and a beta of 0.67. Resources Connection has a 52 week low of $7.90 and a 52 week high of $14.63. The company’s fifty day simple moving average is $8.93 and its two-hundred day simple moving average is $10.15.

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

Wall Street Analyst Weigh In

RGP has been the subject of several recent research reports. JPMorgan Chase & Co. dropped their price target on Resources Connection from $12.00 to $11.00 and set an “underweight” rating for the company in a research report on Tuesday, July 23rd. StockNews.com lowered Resources Connection from a “buy” rating to a “hold” rating in a research 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.