Robert Half (NYSE:RHI) Stock Price Up 8.2% – Here’s What Happened

Robert Half Inc. (NYSE:RHI) shares shot up 8.2% during mid-day trading on Friday . The stock traded as high as $32.60 and last traded at $32.5480. Approximately 1,578,914 shares changed hands during trading, a decline of 46% from the average daily volume of 2,940,766 shares. The stock had previously closed at $30.09.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RHI. Barclays decreased their price target on Robert Half from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, March 6th. William Blair upgraded shares of Robert Half from a “market perform” rating to an “outperform” rating in a research note on Tuesday, April 21st. Zacks Research lowered shares of Robert Half from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 29th. Finally, Weiss Ratings upgraded shares of Robert Half from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, June 17th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $31.75.

Robert Half Trading Up 8.0%

The company has a 50 day moving average price of $28.48 and a 200-day moving average price of $27.19. The company has a market cap of $3.32 billion, a P/E ratio of 24.98 and a beta of 0.84.

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

Robert Half Dividend Announcement

The business 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. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $2.36 annualized dividend and a yield of 7.3%. Robert Half’s dividend payout ratio is presently 181.54%.

Hedge Funds Weigh In On Robert Half

Several large investors have recently bought and sold shares of RHI. Larson Financial Group LLC grew its stake in shares of Robert Half by 321.0% in the fourth quarter. Larson Financial Group LLC now owns 1,002 shares of the business services provider’s stock worth $27,000 after purchasing an additional 764 shares during the last quarter. Gilpin Wealth Management LLC acquired a new position in Robert Half during the 4th quarter worth about $27,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Robert Half in the 2nd quarter valued at about $34,000. Fifth Third Bancorp grew its position in shares of Robert Half by 94.3% in the 4th quarter. Fifth Third Bancorp now owns 1,368 shares of the business services provider’s stock valued at $37,000 after buying an additional 664 shares during the last quarter. Finally, Danske Bank A S acquired a new stake in shares of Robert Half in the third quarter valued at about $37,000. 92.41% of the stock is currently owned by institutional investors.

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.