Robert Half (NYSE:RHI) Hits New 12-Month High After Analyst Upgrade

Robert Half Inc. (NYSE:RHI) hit a new 52-week high during mid-day trading on Saturday after Weiss Ratings upgraded the stock from a hold (c-) rating to a hold (c) rating. The stock traded as high as $47.14 and last traded at $46.0250, with a volume of 6,893,679 shares changing hands. The stock had previously closed at $37.68.

A number of other brokerages also recently issued reports on RHI. Zacks Research upgraded Robert Half from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Robert W. Baird set a $53.00 target price on shares of Robert Half in a report on Friday. Truist Financial raised their target price on shares of Robert Half from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. BMO Capital Markets raised shares of Robert Half from a “market perform” rating to an “outperform” rating and set a $47.00 price target on the stock in a report on Monday, July 27th. Finally, Jefferies Financial Group reaffirmed an “underperform” rating and set a $33.00 price target on shares of Robert Half in a report on Friday. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $38.50.

Robert Half News Roundup

Here are the key news stories impacting Robert Half this week:

• Positive Sentiment: Earnings beat expectations: Robert Half reported third-quarter revenue of $1.359 billion, broadly in line with estimates, while earnings per share rose to $0.49 from $0.43 a year earlier and exceeded the $0.47 consensus. Robert Half Reports Third-Quarter Financial Results
• Positive Sentiment: Talent Solutions returned to growth: Adjusted Talent Solutions revenue increased 2% year over year, its first increase since 2022. Permanent placement revenue grew 6%, while contract talent revenue increased 1%, suggesting staffing demand is stabilizing. Robert Half: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Improving demand and guidance: Management cited better hiring activity, stronger October trends in key staffing categories, and improving demand for risk and compliance consulting. Fourth-quarter guidance implies approximately 3% adjusted revenue growth and roughly 30% earnings growth at the midpoint. How Staffing Firm Robert Half Is Bucking a Stalling Job Market
• Positive Sentiment: Compliance opportunity: Recent regulatory enforcement and bank fines are creating a potentially lucrative pipeline for Robert Half’s risk and compliance consulting business. Management also said artificial intelligence is changing required skills rather than eliminating demand for staffing and consulting roles. Why Robert Half Stock Jumped More Than 20% Today
• Neutral Sentiment: Analyst reaction was supportive but cautious: JPMorgan raised its price target from $40 to $45 but maintained a “neutral” rating, while other brokerages reportedly lifted targets following the results. Robert Half Stock Rises as Analysts Lift Targets

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. purchased a new position in shares of Robert Half in the second quarter worth $7,727,000. Cornerstone Capital Inc. bought a new position in shares of Robert Half during the second quarter worth $8,136,000. Proficio Capital Partners LLC purchased a new position in Robert Half during the second quarter valued at $387,000. Legal & General Group Plc purchased a new position in Robert Half during the second quarter valued at $9,450,000. Finally, Tidal Investments LLC grew its stake in 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 acquiring an additional 16,101 shares in the last quarter. 92.41% of the stock is currently owned by institutional investors.

Robert Half Stock Performance

The company has a market capitalization of $4.71 billion, a P/E ratio of 38.04 and a beta of 0.84. The business’s fifty day simple moving average is $38.81 and its 200-day simple moving average is $34.32.

Robert Half (NYSE:RHI) last announced its quarterly earnings results on Thursday, October 22nd. The business services provider reported $0.49 EPS for the quarter, topping the consensus estimate of $0.47 by $0.02. Robert Half had a net margin of 2.30% and a return on equity of 9.83%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the previous year, the company earned $0.43 EPS. The business’s quarterly revenue was up .4% compared to the same quarter last year. As a group, analysts forecast that Robert Half Inc. will post 1.28 EPS for the current year.

Robert Half Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, August 25th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date was Tuesday, August 25th. Robert Half’s payout ratio is currently 195.04%.

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.