Resources Connection (NASDAQ:RGP) Releases Earnings Results, Misses Estimates By $0.21 EPS

Resources Connection (NASDAQ:RGP) posted its quarterly earnings data on Tuesday. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.21), Zacks reports. The business had revenue of $136.94 million for the quarter, compared to analysts’ expectations of $137.82 million. Resources Connection had a net margin of 3.32% and a return on equity of 6.19%. Resources Connection’s revenue 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.

Resources Connection Price Performance

RGP stock opened at $8.35 on Thursday. The company has a market capitalization of $282.29 million, a P/E ratio of 12.65, a price-to-earnings-growth ratio of 1.42 and a beta of 0.65. The firm’s fifty day simple moving average is $10.19 and its 200-day simple moving average is $10.91. Resources Connection has a 12 month low of $8.31 and a 12 month high of $14.77.

Resources Connection Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 23rd were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 6.71%. The ex-dividend date of this dividend was Friday, August 23rd. Resources Connection’s dividend payout ratio (DPR) is 84.85%.

Insider Buying and Selling at Resources Connection

In related news, Director Roger D. Carlile acquired 25,000 shares of the stock in a transaction on Monday, July 22nd. The shares were acquired at an average price of $11.25 per share, for a total transaction of $281,250.00. Following the transaction, the director now owns 25,000 shares in the company, valued at approximately $281,250. The purchase was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Jennifer Y. Ryu sold 11,650 shares of the firm’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 transaction, the chief financial officer now owns 84,481 shares in the company, valued at $950,411.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Roger D. Carlile purchased 25,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were purchased at an average price of $11.25 per share, with a total value of $281,250.00. Following the completion of the transaction, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $281,250. The disclosure for this purchase can be found here. Company insiders own 7.36% of the company’s stock.

Analysts Set New Price Targets

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

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.