Resources Connection (NASDAQ:RGP) Releases Earnings Results, Beats Expectations By $0.18 EPS

Resources Connection (NASDAQ:RGP) released its earnings results on Wednesday. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.18, Briefing.com reports. The firm had revenue of $151.31 million for the quarter, compared to analyst estimates of $152.77 million. Resources Connection had a return on equity of 6.86% and a net margin of 3.34%. Resources Connection’s revenue was down 19.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.32 earnings per share.

Resources Connection Stock Performance

RGP traded up $0.60 during trading on Friday, reaching $11.95. The company had a trading volume of 370,176 shares, compared to its average volume of 442,489. The firm’s 50-day simple moving average is $13.29 and its 200 day simple moving average is $13.73. The company has a market cap of $400.44 million, a price-to-earnings ratio of 18.14, a PEG ratio of 1.44 and a beta of 0.61. Resources Connection has a 12-month low of $10.59 and a 12-month high of $17.24.

Resources Connection Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 4.69%. Resources Connection’s dividend payout ratio is currently 84.85%.

Hedge Funds Weigh In On Resources Connection

A number of institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio lifted its holdings in shares of Resources Connection by 36.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 27,430 shares of the company’s stock valued at $389,000 after buying an additional 7,277 shares during the last quarter. Barclays PLC increased its position in Resources Connection by 110.9% in the 4th quarter. Barclays PLC now owns 78,369 shares of the company’s stock worth $1,111,000 after buying an additional 41,203 shares during the period. Nuveen Asset Management LLC increased its position in Resources Connection by 1.1% in the 4th quarter. Nuveen Asset Management LLC now owns 98,769 shares of the company’s stock worth $1,400,000 after buying an additional 1,070 shares during the period. Public Sector Pension Investment Board increased its position in Resources Connection by 68.0% in the 4th quarter. Public Sector Pension Investment Board now owns 66,437 shares of the company’s stock worth $941,000 after buying an additional 26,899 shares during the period. Finally, Bridgeway Capital Management LLC increased its position in Resources Connection by 32.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 249,090 shares of the company’s stock worth $3,530,000 after buying an additional 61,605 shares during the period. Hedge funds and other institutional investors own 93.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on RGP shares. StockNews.com lowered Resources Connection from a “buy” rating to a “hold” rating in a report on Sunday, February 25th. 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 report on Thursday.

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.