Robert Half (NYSE:RHI) Stock Price Down 7.6% – Should You Sell?

Shares of Robert Half Inc. (NYSE:RHI) traded down 7.6% during trading on Wednesday . The stock traded as low as $24.21 and last traded at $24.08. 496,157 shares changed hands during trading, a decline of 84% from the average session volume of 3,148,772 shares. The stock had previously closed at $26.06.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Zacks Research lowered shares of Robert Half from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. increased their price target on shares of Robert Half from $29.00 to $31.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. William Blair raised shares of Robert Half from a “market perform” rating to an “outperform” rating in a research report on Tuesday, April 21st. BMO Capital Markets decreased their price target on shares of Robert Half from $35.00 to $32.00 and set a “market perform” rating for the company in a research report on Tuesday, February 17th. Finally, The Goldman Sachs Group upped their price target on Robert Half from $24.00 to $27.00 and gave the stock a “sell” rating in a research report on Tuesday, February 3rd. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Robert Half has an average rating of “Reduce” and an average price target of $31.75.

Robert Half Stock Down 4.6%

The firm has a market cap of $2.54 billion, a PE ratio of 19.07 and a beta of 0.80. The stock has a 50 day moving average price of $25.25 and a two-hundred day moving average price of $26.69.

Robert Half (NYSE:RHI) last issued its quarterly earnings results on Thursday, April 23rd. The business services provider reported $0.14 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.14. Robert Half had a return on equity of 10.14% and a net margin of 2.43%.The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the firm earned $0.17 earnings per share. The company’s revenue was down 3.8% on a year-over-year basis. As a group, equities analysts anticipate that Robert Half Inc. will post 1.36 earnings per share for the current year.

Robert Half Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 22nd will be paid a dividend of $0.59 per share. The ex-dividend date is Friday, May 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 9.5%. Robert Half’s payout ratio is presently 181.54%.

Institutional Investors Weigh In On Robert Half

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Pzena Investment Management LLC lifted its stake in shares of Robert Half by 33.8% in the 3rd quarter. Pzena Investment Management LLC now owns 3,179,968 shares of the business services provider’s stock valued at $108,055,000 after purchasing an additional 802,691 shares during the period. Evergreen Capital Management LLC acquired a new stake in Robert Half in the 3rd quarter valued at $1,204,000. Deprince Race & Zollo Inc. grew its stake in Robert Half by 40.8% in the 4th quarter. Deprince Race & Zollo Inc. now owns 2,440,961 shares of the business services provider’s stock valued at $66,297,000 after acquiring an additional 707,078 shares during the period. Frank Rimerman Advisors LLC acquired a new stake in Robert Half in the 3rd quarter valued at $1,860,000. Finally, Kiltearn Partners LLP grew its stake in Robert Half by 40.6% in the 3rd quarter. Kiltearn Partners LLP now owns 462,400 shares of the business services provider’s stock valued at $15,712,000 after acquiring an additional 133,500 shares during the period. 92.41% of the stock is currently owned by institutional investors and hedge funds.

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.