Robert Half (NYSE:RHI) Hits New 52-Week Low – Here’s What Happened

Robert Half Inc. (NYSE:RHI)’s share price reached a new 52-week low during trading on Friday . The company traded as low as $22.26 and last traded at $22.3610, with a volume of 2681677 shares traded. The stock had previously closed at $22.76.

Wall Street Analyst Weigh In

RHI has been the topic of several research analyst reports. BNP Paribas Exane lowered Robert Half from a “neutral” rating to an “underperform” rating and set a $22.00 price objective on the stock. in a research note on Friday, December 5th. Zacks Research upgraded Robert Half from a “strong sell” rating to a “hold” rating in a research note on Monday, February 2nd. Weiss Ratings restated a “sell (d)” rating on shares of Robert Half in a research note on Monday, December 29th. Robert W. Baird set a $50.00 price target on Robert Half in a report on Friday, January 30th. Finally, Barclays reduced their price objective on shares of Robert Half from $36.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, March 6th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $31.75.

Robert Half Trading Down 1.8%

The stock has a market cap of $2.26 billion, a P/E ratio of 16.81 and a beta of 0.90. The firm has a 50-day simple moving average of $27.02 and a two-hundred day simple moving average of $29.21.

Robert Half (NYSE:RHI) last posted its earnings results on Thursday, January 29th. The business services provider reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. Robert Half had a return on equity of 10.26% and a net margin of 2.47%.The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter last year, the firm earned $0.53 earnings per share. The company’s revenue was down 5.8% on a year-over-year basis. Sell-side analysts predict that Robert Half Inc. will post 2.48 earnings per share for the current year.

Robert Half Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Wednesday, February 25th were paid a $0.59 dividend. The ex-dividend date was Wednesday, February 25th. This represents a $2.36 annualized dividend and a yield of 10.6%. Robert Half’s payout ratio is 177.44%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in RHI. AQR Capital Management LLC boosted its stake in shares of Robert Half by 190.5% in the second quarter. AQR Capital Management LLC now owns 6,201,209 shares of the business services provider’s stock valued at $254,560,000 after buying an additional 4,066,328 shares during the period. Capital World Investors grew its position in Robert Half by 460.5% during the third quarter. Capital World Investors now owns 4,341,133 shares of the business services provider’s stock worth $147,512,000 after buying an additional 3,566,645 shares in the last quarter. Brickwood Asset Management LLP bought a new position in Robert Half during the 4th quarter worth $34,908,000. Norges Bank acquired a new position in Robert Half in the 4th quarter valued at $33,832,000. Finally, Pzena Investment Management LLC raised its holdings in Robert Half by 38.2% in the 4th quarter. Pzena Investment Management LLC now owns 4,394,851 shares of the business services provider’s stock valued at $119,364,000 after acquiring an additional 1,214,883 shares in the last quarter. Institutional investors and hedge funds own 92.41% of the company’s stock.

Robert Half Company Profile

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.