Robert Half (NYSE:RHI) Shares Up 7.4% After Strong Earnings

Robert Half Inc. (NYSE:RHI – Get Free Report)’s share price rose 7.4% on Thursday following a better than expected earnings announcement. The stock traded as high as $37.09 and last traded at $37.21. 819,171 shares traded hands during trading, a decline of 68% from the average session volume of 2,584,437 shares. The stock had previously closed at $34.64.

The business services provider reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. Robert Half had a net margin of 2.17% and a return on equity of 9.18%. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the prior year, the business earned $0.43 EPS.

Robert Half Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, August 25th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date of this dividend was Tuesday, August 25th. Robert Half’s dividend payout ratio is presently 205.22%.

Wall Street Analysts Forecast Growth

RHI has been the topic of a number of research reports. Weiss Ratings lowered Robert Half from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, October 9th. The Goldman Sachs Group boosted their price target on Robert Half from $26.00 to $29.00 and gave the company a “sell” rating in a research report on Friday, July 24th. Truist Financial upped their price objective on Robert Half from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. BMO Capital Markets raised Robert Half from a “market perform” rating to an “outperform” rating and set a $47.00 price objective for the company in a research report on Monday, July 27th. Finally, Zacks Research upgraded Robert Half from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Robert Half presently has a consensus rating of “Hold” and a consensus price target of $34.75.

Check Out Our Latest Analysis on Robert Half

Institutional Trading of Robert Half

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Robert Half in the second quarter valued at about $409,875,000. Pzena Investment Management LLC purchased a new position in Robert Half during the second quarter worth about $191,025,000. Bank of America Corp DE purchased a new position in Robert Half during the second quarter worth about $38,460,000. Hawk Ridge Capital Management LP lifted its position in Robert Half by 134.2% in the first quarter. Hawk Ridge Capital Management LP now owns 1,785,400 shares of the business services provider’s stock valued at $45,349,000 after purchasing an additional 1,023,000 shares during the period. Finally, First Trust Advisors LP lifted its position in Robert Half by 281.2% in the first quarter. First Trust Advisors LP now owns 1,333,720 shares of the business services provider’s stock valued at $33,876,000 after purchasing an additional 983,842 shares during the period. Institutional investors and hedge funds own 92.41% of the company’s stock.

Robert Half Price Performance

The stock’s 50-day moving average is $38.87 and its 200 day moving average is $34.08. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of 32.83 and a beta of 0.84.

Robert Half Company Profile

(Get Free Report)

Robert Half Inc (NYSE: RHI) is a global talent solutions and business consulting company. Through its Robert Half brand, the company provides temporary, project-based and permanent staffing services, connecting employers with professionals in accounting and finance, administrative and customer support, technology, legal, and marketing and creative fields.

Robert Half also operates Protiviti, a global consulting firm that helps organizations address internal audit, risk and compliance, technology, business performance, and digital transformation challenges.

Further Reading

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