Robert Half Inc. (NYSE:RHI – Get Free Report) gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $37.68, but opened at $41.95. Robert Half shares last traded at $42.6590, with a volume of 472,966 shares traded.
The business services provider reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.02. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.36 billion. Robert Half had a return on equity of 9.18% and a net margin of 2.17%. The company’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.43 EPS.
Robert Half Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, August 25th were issued a dividend of $0.59 per share. The ex-dividend date was Tuesday, August 25th. This represents a $2.36 dividend on an annualized basis and a yield of 5.6%. Robert Half’s payout ratio is currently 205.22%.
Key Robert Half News
Here are the key news stories impacting Robert Half this week:
- Positive Sentiment: Robert Half reported third-quarter earnings of $0.49 per share, above the $0.47 analyst consensus and up from $0.43 in the year-ago quarter. The earnings beat likely supported investor buying. Robert Half Beats Q3 Earnings Estimates
- Positive Sentiment: Quarterly revenue reached approximately $1.36 billion, while net income increased year over year. The results indicate that profitability improved despite limited top-line growth. Robert Half Reports Third-Quarter Financial Results
- Neutral Sentiment: Revenue was essentially in line with Wall Street expectations and increased only about 0.4% from the prior-year period. The sales performance met forecasts but does not yet signal a strong recovery in demand for staffing services. Robert Half Q3 Key Metrics
- Negative Sentiment: Robert Half’s reported net margin was relatively low at 2.17%, and return on equity was 9.18%. These figures may temper enthusiasm if investors remain concerned about margin pressure and the pace of an employment-market recovery. Robert Half Q3 Earnings Call Transcript
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the company. BMO Capital Markets raised Robert Half from a “market perform” rating to an “outperform” rating and set a $47.00 target price for the company in a research note on Monday, July 27th. The Goldman Sachs Group reissued a “sell” rating and set a $33.00 target price on shares of Robert Half in a research note on Friday. Truist Financial raised their price objective on shares of Robert Half from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Robert W. Baird set a $53.00 price target on Robert Half in a report on Friday. Finally, Jefferies Financial Group restated an “underperform” rating and issued a $33.00 target price on shares of Robert Half in a research note on Friday. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Robert Half currently has an average rating of “Hold” and a consensus target price of $36.75.
Read Our Latest Research Report on RHI
Institutional Trading of Robert Half
Several institutional investors and hedge funds have recently bought and sold shares of RHI. BlackRock Inc. bought a new position in Robert Half in the second quarter valued at approximately $409,875,000. Pzena Investment Management LLC acquired a new position in shares of Robert Half during the 2nd quarter worth about $191,025,000. Bank of America Corp DE acquired a new position in shares of Robert Half during the 2nd quarter worth about $38,460,000. Hawk Ridge Capital Management LP lifted its stake in Robert Half by 134.2% in the 1st 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 last quarter. Finally, First Trust Advisors LP grew its holdings in Robert Half by 281.2% during the first quarter. First Trust Advisors LP now owns 1,333,720 shares of the business services provider’s stock worth $33,876,000 after purchasing an additional 983,842 shares during the period. Institutional investors own 92.41% of the company’s stock.
Robert Half Price Performance
The business has a 50-day simple moving average of $38.75 and a two-hundred day simple moving average of $34.17. The stock has a market cap of $4.34 billion, a price-to-earnings ratio of 36.88 and a beta of 0.84.
About Robert Half
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.
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