Resources Connection, Inc. (RECN) Declares $0.12 Quarterly Dividend
Resources Connection, Inc. (NASDAQ:RECN) declared a quarterly dividend on Tuesday, October 24th, RTT News reports. Stockholders of record on Thursday, November 16th will be paid a dividend of 0.12 per share by the business services provider on Thursday, December 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.13%.
Shares of Resources Connection (RECN) traded down 0.32% on Tuesday, hitting $15.35. The stock had a trading volume of 119,038 shares. The firm’s 50-day moving average price is $13.67 and its 200 day moving average price is $13.42. The firm has a market cap of $458.95 million, a P/E ratio of 31.85 and a beta of 1.18. Resources Connection has a 12 month low of $12.05 and a 12 month high of $19.80.
Resources Connection (NASDAQ:RECN) last released its quarterly earnings results on Wednesday, October 4th. The business services provider reported $0.12 earnings per share for the quarter, hitting the consensus estimate of $0.12. Resources Connection had a net margin of 2.60% and a return on equity of 8.08%. The firm had revenue of $141.20 million during the quarter, compared to the consensus estimate of $140.29 million. During the same quarter in the prior year, the firm earned $0.15 EPS. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. Analysts anticipate that Resources Connection will post $0.69 EPS for the current fiscal year.
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A number of analysts have commented on the stock. Zacks Investment Research upgraded shares of Resources Connection from a “sell” rating to a “hold” rating in a report on Thursday, September 21st. Deutsche Bank AG cut their price objective on shares of Resources Connection from $14.00 to $12.00 and set a “sell” rating for the company in a report on Friday, July 21st. BidaskClub downgraded shares of Resources Connection from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $15.00 price objective on shares of Resources Connection in a report on Friday, October 6th. Two investment analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. Resources Connection presently has a consensus rating of “Hold” and a consensus price target of $15.00.
Resources Connection Company Profile
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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