Resources Connection (NASDAQ:RGP) Announces Earnings Results

Resources Connection (NASDAQ:RGP) announced its quarterly earnings results on Wednesday. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.04), FiscalAI reports. The company had revenue of $107.93 million during the quarter, compared to the consensus estimate of $108.19 million. Resources Connection had a positive return on equity of 0.62% and a negative net margin of 26.13%.

Resources Connection Stock Performance

Shares of RGP stock traded down $0.06 during midday trading on Wednesday, reaching $3.52. 552,064 shares of the company were exchanged, compared to its average volume of 410,122. Resources Connection has a 12 month low of $3.42 and a 12 month high of $6.30. The company’s 50 day moving average price is $3.84 and its two-hundred day moving average price is $4.45. The company has a market cap of $117.93 million, a P/E ratio of -0.88 and a beta of 0.45.

Resources Connection Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, February 20th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, February 20th. This represents a $0.28 annualized dividend and a yield of 8.0%. Resources Connection’s payout ratio is presently -6.97%.

Institutional Trading of Resources Connection

Hedge funds and other institutional investors have recently made changes to their positions in the business. Intesa Sanpaolo Wealth Management acquired a new stake in shares of Resources Connection during the fourth quarter worth $33,000. Strs Ohio acquired a new stake in shares of Resources Connection during the first quarter valued at approximately $48,000. Quarry LP raised its holdings in shares of Resources Connection by 4,995.7% during the third quarter. Quarry LP now owns 9,529 shares of the company’s stock valued at $48,000 after acquiring an additional 9,342 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Resources Connection during the fourth quarter valued at approximately $55,000. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Resources Connection during the third quarter valued at approximately $64,000. 93.23% of the stock is currently owned by institutional investors.

Resources Connection Company Profile

Resources Connection, Inc (NASDAQ: RGP) is a publicly traded professional services firm that specializes in providing independent consulting and project-based teams to help organizations manage critical business challenges. Operating under the RGP brand, the company connects highly skilled consultants with clients seeking support in areas such as finance and accounting, legal and risk management, supply chain optimization, technology implementation, and digital transformation.

RGP’s consultants bring specific industry and functional expertise to engagements, working on a flexible basis that allows clients to scale resources up or down as needed.