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

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

Resources Connection Price Performance

NASDAQ RGP opened at $8.35 on Thursday. The company has a fifty day moving average of $10.19 and a two-hundred day moving average of $10.91. The company has a market capitalization of $282.29 million, a PE ratio of 12.65, a P/E/G ratio of 1.42 and a beta of 0.65. Resources Connection has a 1 year low of $8.31 and a 1 year high of $14.77.

Resources Connection Dividend Announcement

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

Insider Transactions at Resources Connection

In other Resources Connection news, CFO Jennifer Y. Ryu sold 11,650 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $11.25, for a total value of $131,062.50. Following the transaction, the chief financial officer now directly owns 84,481 shares of the company’s stock, valued at approximately $950,411.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Roger D. Carlile acquired 25,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was purchased 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 Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jennifer Y. Ryu sold 11,650 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $11.25, for a total transaction of $131,062.50. Following the completion of the transaction, the chief financial officer now owns 84,481 shares in the company, valued at $950,411.25. The disclosure for this sale can be found here. Insiders own 7.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RGP. JPMorgan Chase & Co. reduced their price objective on Resources Connection from $12.00 to $11.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 23rd. StockNews.com cut Resources Connection from a “buy” rating to a “hold” rating in a research note on Saturday, July 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently 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.