Robert Half (NYSE:RHI) Announces Quarterly Earnings Results, Hits Expectations

Robert Half (NYSE:RHI) released its quarterly earnings results on Thursday. The business services provider reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26, FiscalAI reports. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. Robert Half had a net margin of 2.43% and a return on equity of 10.14%.

Robert Half Stock Performance

Robert Half stock traded down $2.75 during midday trading on Thursday, reaching $37.95. The company’s stock had a trading volume of 4,380,806 shares, compared to its average volume of 2,875,520. Robert Half has a fifty-two week low of $21.83 and a fifty-two week high of $42.65. The stock’s 50 day simple moving average is $31.75 and its 200 day simple moving average is $28.28. The firm has a market capitalization of $3.88 billion, a PE ratio of 29.20 and a beta of 0.82.

Robert Half Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 22nd were given a $0.59 dividend. The ex-dividend date was Friday, May 22nd. This represents a $2.36 annualized dividend and a yield of 6.2%. Robert Half’s dividend payout ratio is presently 181.54%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Zacks Research upgraded shares of Robert Half from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. The Goldman Sachs Group raised their price target on Robert Half from $23.00 to $26.00 and gave the stock a “sell” rating in a report on Tuesday, July 14th. Weiss Ratings upgraded Robert Half from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, June 17th. Truist Financial upped their price objective on Robert Half from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, William Blair upgraded Robert Half from a “market perform” rating to an “outperform” rating in a research note on Tuesday, April 21st. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $32.88.

Hedge Funds Weigh In On Robert Half

Large investors have recently made changes to their positions in the stock. AQR Capital Management LLC boosted its holdings in Robert Half by 24.8% during the third quarter. AQR Capital Management LLC now owns 7,738,454 shares of the business services provider’s stock worth $262,953,000 after buying an additional 1,537,245 shares in the last quarter. State Street Corp lifted its position in shares of Robert Half by 2.7% during the 2nd quarter. State Street Corp now owns 4,873,440 shares of the business services provider’s stock valued at $200,055,000 after acquiring an additional 127,322 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Robert Half by 3.4% during the 4th 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 acquiring an additional 131,035 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in shares of Robert Half by 112.3% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,079,623 shares of the business services provider’s stock worth $56,483,000 after acquiring an additional 1,100,008 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Robert Half by 49.2% in the 4th quarter. Invesco Ltd. now owns 1,933,796 shares of the business services provider’s stock worth $52,522,000 after acquiring an additional 638,084 shares during the period. Hedge funds and other 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.