Robert Half (NYSE:RHI) Trading Up 6% – Here’s What Happened

Robert Half Inc. (NYSE:RHI) traded up 6% during mid-day trading on Monday . The stock traded as high as $34.11 and last traded at $34.3550. 412,609 shares traded hands during trading, a decline of 86% from the average daily volume of 2,867,154 shares. The stock had previously closed at $32.40.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Weiss Ratings raised Robert Half from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, June 17th. Zacks Research cut shares of Robert Half from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th. William Blair raised shares of Robert Half from a “market perform” rating to an “outperform” rating in a report on Tuesday, April 21st. Finally, The Goldman Sachs Group upped their price objective on shares of Robert Half from $23.00 to $26.00 and gave the stock a “sell” rating in a report on Tuesday. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $31.62.

Robert Half Trading Up 0.4%

The stock has a 50-day moving average of $30.04 and a two-hundred day moving average of $27.72. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of 27.47 and a beta of 0.82.

Robert Half (NYSE:RHI) last announced its quarterly earnings data on Thursday, April 23rd. The business services provider reported $0.14 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.14. Robert Half had a return on equity of 10.14% and a net margin of 2.43%.The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the prior year, the business earned $0.17 EPS. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. Sell-side analysts expect that Robert Half Inc. will post 1.29 EPS for the current fiscal year.

Robert Half Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 22nd were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 6.6%. The ex-dividend date of this dividend was Friday, May 22nd. Robert Half’s payout ratio is presently 181.54%.

Institutional Trading of Robert Half

Institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC boosted its holdings in Robert Half by 24.8% in the 3rd quarter. AQR Capital Management LLC now owns 7,738,454 shares of the business services provider’s stock valued at $262,953,000 after purchasing an additional 1,537,245 shares during the period. Pzena Investment Management LLC increased its holdings in shares of Robert Half by 35.8% during the 1st quarter. Pzena Investment Management LLC now owns 5,966,734 shares of the business services provider’s stock worth $151,555,000 after purchasing an additional 1,571,883 shares during the period. Capital World Investors raised its position in shares of Robert Half by 36.0% during the fourth quarter. Capital World Investors now owns 5,902,279 shares of the business services provider’s stock valued at $160,306,000 after buying an additional 1,561,146 shares during the last quarter. State Street Corp raised its position in shares of Robert Half by 2.7% during the second quarter. State Street Corp now owns 4,873,440 shares of the business services provider’s stock valued at $200,055,000 after buying an additional 127,322 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Robert Half by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,981,198 shares of the business services provider’s stock valued at $108,129,000 after buying an additional 131,035 shares during the last quarter. 92.41% of the stock is currently owned by institutional investors and hedge funds.

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.