Resources Connection (NASDAQ:RGP) Posts Earnings Results

Resources Connection (NASDAQ:RGP - Get Free Report) released its earnings results on Wednesday. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.18, Briefing.com reports. Resources Connection had a return on equity of 8.14% and a net margin of 3.80%. The company had revenue of $151.31 million for the quarter, compared to analysts' expectations of $152.77 million. During the same quarter in the previous year, the business posted $0.32 EPS. The business's revenue for the quarter was down 19.0% on a year-over-year basis.

Resources Connection Stock Performance

Shares of NASDAQ RGP traded down $0.93 during trading hours on Thursday, hitting $11.35. The stock had a trading volume of 1,111,958 shares, compared to its average volume of 443,918. The company has a market capitalization of $380.34 million, a P/E ratio of 14.37, a P/E/G ratio of 1.47 and a beta of 0.61. The firm's 50-day moving average price is $13.34 and its two-hundred day moving average price is $13.75. Resources Connection has a 52 week low of $10.59 and a 52 week high of $17.24.

Resources Connection Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 15th were paid a $0.14 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $0.56 annualized dividend and a dividend yield of 4.93%. Resources Connection's payout ratio is 70.89%.

Analyst Ratings Changes

Several research firms have weighed in on RGP. Robert W. Baird lowered their target price on Resources Connection from $15.00 to $13.00 and set a "neutral" rating on the stock in a research note on Thursday. StockNews.com cut Resources Connection from a "buy" rating to a "hold" rating in a research note on Sunday, February 25th.

Institutional Investors Weigh In On Resources Connection

Several large investors have recently made changes to their positions in the company. Citigroup Inc. lifted its holdings in Resources Connection by 14.0% in the 1st quarter. Citigroup Inc. now owns 27,419 shares of the company's stock worth $470,000 after purchasing an additional 3,364 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in Resources Connection by 57.0% in the 1st quarter. MetLife Investment Management LLC now owns 17,632 shares of the company's stock worth $302,000 after purchasing an additional 6,401 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Resources Connection by 11.8% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,359 shares of the company's stock worth $452,000 after purchasing an additional 2,781 shares during the last quarter. Sei Investments Co. lifted its holdings in Resources Connection by 34.2% in the 1st quarter. Sei Investments Co. now owns 58,204 shares of the company's stock worth $999,000 after purchasing an additional 14,831 shares during the last quarter. Finally, Aviva PLC acquired a new stake in Resources Connection in the 1st quarter worth approximately $1,553,000. Institutional investors own 93.23% of the company's stock.

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.