Resources Connection, Inc. (NASDAQ:RECN) announced a quarterly dividend on Wednesday, August 2nd, Wall Street Journal reports. Shareholders of record on Thursday, August 24th will be paid a dividend of 0.12 per share by the business services provider on Thursday, September 21st. This represents a $0.48 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend is Tuesday, August 22nd. This is an increase from Resources Connection’s previous quarterly dividend of $0.11.
Shares of Resources Connection (RECN) opened at 12.95 on Monday. Resources Connection has a 12-month low of $12.41 and a 12-month high of $19.80. The stock has a 50 day moving average of $13.61 and a 200-day moving average of $14.66. The firm has a market capitalization of $386.78 million, a P/E ratio of 23.12 and a beta of 1.20.
Resources Connection (NASDAQ:RECN) last issued its earnings results on Thursday, July 20th. The business services provider reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by $0.02. The firm had revenue of $148.60 million for the quarter, compared to analyst estimates of $148.46 million. Resources Connection had a return on equity of 8.08% and a net margin of 3.20%. Resources Connection’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.23 earnings per share. On average, equities research analysts predict that Resources Connection will post $0.70 EPS for the current fiscal year.
A number of equities research analysts recently commented on the company. Deutsche Bank AG lowered their price target on Resources Connection from $14.00 to $12.00 and set a “sell” rating for the company in a research report on Friday, July 21st. BidaskClub lowered Resources Connection from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Zacks Investment Research lowered Resources Connection from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Finally, TheStreet lowered Resources Connection from a “b-” rating to a “c+” rating in a research report on Friday, May 26th. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The company currently has an average rating of “Sell” and a consensus target price of $15.50.
About Resources Connection
Resources Connection, Inc is a multinational consulting firm. The Company’s operating entities primarily provide services under the name Resources Global Professionals (RGP). The Company provides consulting and business initiative support services to its global client base in the areas of accounting; finance; corporate governance, risk and compliance (GRC) management; corporate advisory, strategic communications and restructuring; information management; human capital; supply chain management, and legal and regulatory.
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