Robert Half (NYSE:RHI) Stock Price Down 7.2% – Here’s Why

Robert Half Inc. (NYSE:RHI)’s share price dropped 7.2% on Tuesday . The stock traded as low as $39.63 and last traded at $39.52. 623,169 shares were traded during mid-day trading, a decline of 77% from the average session volume of 2,728,661 shares. The stock had previously closed at $42.58.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on RHI shares. Robert W. Baird set a $47.00 target price on Robert Half in a research report on Monday, July 27th. The Goldman Sachs Group upped 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. BMO Capital Markets raised Robert Half from a “market perform” rating to an “outperform” rating and set a $47.00 price target for the company in a research note on Monday, July 27th. Zacks Research upgraded Robert Half from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 14th. Finally, Truist Financial lifted their price objective on Robert Half from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Robert Half currently has a consensus rating of “Hold” and an average price target of $34.75.

Robert Half Price Performance

The company’s 50-day moving average price is $40.26 and its two-hundred day moving average price is $31.59. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of 32.98 and a beta of 0.81.

Robert Half (NYSE:RHI) last released its earnings results on Thursday, July 23rd. The business services provider reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Robert Half had a net margin of 2.17% and a return on equity of 9.18%. Robert Half’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.41 earnings per share. On average, equities research analysts expect that Robert Half Inc. will post 1.27 EPS for the current fiscal year.

Robert Half Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, August 25th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date of this dividend is Tuesday, August 25th. Robert Half’s payout ratio is currently 205.22%.

Institutional Investors Weigh In On Robert Half

Institutional investors and hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Robert Half in the second quarter worth approximately $34,000. Gilpin Wealth Management LLC bought a new position in shares of Robert Half during the 4th quarter worth approximately $27,000. Larson Financial Group LLC grew its position in shares of Robert Half by 321.0% during the 4th quarter. Larson Financial Group LLC now owns 1,002 shares of the business services provider’s stock worth $27,000 after buying an additional 764 shares during the period. Danske Bank A S acquired a new stake in shares of Robert Half during the 3rd quarter worth approximately $37,000. Finally, Elevation Wealth Partners LLC grew its position in shares of Robert Half by 605.6% during the 2nd quarter. Elevation Wealth Partners LLC now owns 1,136 shares of the business services provider’s stock worth $35,000 after buying an additional 975 shares during the period. Institutional investors own 92.41% of the company’s stock.

About Robert Half

Robert Half International Inc, founded in 1948 by Robert Half, is a global professional staffing and consulting firm headquartered in Menlo Park, California. As a pioneer in specialized staffing, the company has built a reputation for matching skilled professionals with leading organizations across a range of industries. Robert Half’s shares trade on the New York Stock Exchange under the ticker RHI, reflecting its position as one of the longest‐standing and best‐known firms in the staffing sector.

The company offers a comprehensive suite of services, including temporary staffing, permanent placement, and consulting solutions.