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

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

Resources Connection Price Performance

Shares of NASDAQ:RGP opened at $9.47 on Wednesday. The company has a market cap of $316.96 million, a price-to-earnings ratio of 14.35, a PEG ratio of 1.42 and a beta of 0.65. The firm has a 50 day simple moving average of $10.25 and a 200 day simple moving average of $10.93. Resources Connection has a one year low of $9.26 and a one year high of $14.97.

Resources Connection Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 23rd were given a dividend of $0.14 per share. The ex-dividend date was Friday, August 23rd. This represents a $0.56 annualized dividend and a dividend yield of 5.91%. Resources Connection’s dividend payout ratio is 84.85%.

Analyst Ratings Changes

RGP has been the topic of several recent research reports. StockNews.com lowered shares of Resources Connection from a “buy” rating to a “hold” rating in a research note on Saturday, July 27th. JPMorgan Chase & Co. lowered their price objective on shares of Resources Connection from $12.00 to $11.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Resources Connection has a consensus rating of “Hold” and a consensus target price of $13.00.

Insider Activity at Resources Connection

In other news, CFO Jennifer Y. Ryu sold 11,650 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $950,411.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Roger D. Carlile bought 25,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was acquired at an average price of $11.25 per share, with a total value of $281,250.00. Following the completion of the purchase, the director now directly owns 25,000 shares of the company’s stock, valued at $281,250. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jennifer Y. Ryu sold 11,650 shares of Resources Connection stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $11.25, for a total transaction 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 disclosure for this sale can be found here. 7.36% of the stock is owned by insiders.

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.