Robert Half (NYSE:RHI) Shares Down 5.2% – What’s Next?

Robert Half Inc. (NYSE:RHI) traded down 5.2% during mid-day trading on Monday. The company traded as low as $34.43 and last traded at $34.2590. Approximately 797,367 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 2,638,805 shares. The stock had previously closed at $36.12.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RHI. Robert W. Baird set a $47.00 price objective on shares of Robert Half in a research report on Monday, July 27th. Truist Financial increased their price target on Robert Half from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. The Goldman Sachs Group upped their target price 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 target price for the company in a research note on Monday, July 27th. Finally, Weiss Ratings upgraded Robert Half from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, September 24th. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $34.75.

Robert Half Stock Performance

The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of 29.47 and a beta of 0.84. The company has a 50 day moving average price of $40.49 and a 200 day moving average price of $33.19.

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

Robert Half Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, August 25th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date of this dividend was Tuesday, August 25th. Robert Half’s dividend payout ratio is presently 205.22%.

Institutional Trading of Robert Half

Several hedge funds have recently bought and sold shares of the business. Altar Rock LLC increased its stake in Robert Half by 4.0% during the 2nd quarter. Altar Rock LLC now owns 9,554 shares of the business services provider’s stock valued at $293,000 after purchasing an additional 365 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Robert Half in the second quarter valued at $780,000. Tidal Investments LLC grew its holdings in shares of Robert Half by 34.4% during the second quarter. Tidal Investments LLC now owns 62,884 shares of the business services provider’s stock valued at $1,931,000 after buying an additional 16,101 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of Robert Half by 1,301.4% during the second quarter. NewEdge Advisors LLC now owns 11,393 shares of the business services provider’s stock worth $350,000 after acquiring an additional 10,580 shares in the last quarter. Finally, Baird Financial Group Inc. increased its position in shares of Robert Half by 58.2% during the second quarter. Baird Financial Group Inc. now owns 206,009 shares of the business services provider’s stock worth $6,324,000 after acquiring an additional 75,817 shares in the last quarter. Institutional investors and hedge funds own 92.41% of the company’s stock.

About Robert Half

Robert Half Inc (NYSE: RHI) is a specialized staffing and professional services company that connects employers with skilled talent for temporary, contract-to-hire and permanent positions. Its staffing operations serve areas including accounting and finance, technology, legal, administrative and customer support, marketing, and creative services.

The company also provides consulting and project-based services through Protiviti, its global consulting subsidiary. Protiviti advises organizations on internal audit, risk and compliance, technology, cybersecurity, digital transformation, finance, and business performance.