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

Robert Half Inc. (NYSE:RHI) reached a new 52-week high on Thursday . The company traded as high as $45.32 and last traded at $43.5880, with a volume of 1879659 shares. The stock had previously closed at $43.76.

Analysts Set New Price Targets

RHI has been the subject of a number of research analyst reports. BMO Capital Markets upgraded shares of Robert Half from a “market perform” rating to an “outperform” rating and set a $47.00 price objective for the company in a research report on Monday, July 27th. The Goldman Sachs Group upped their price target on shares of Robert Half from $26.00 to $29.00 and gave the stock a “sell” rating in a research report on Friday, July 24th. Truist Financial lifted their price objective on Robert Half from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Zacks Research upgraded Robert Half from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Finally, Robert W. Baird set a $47.00 target price on Robert Half in a research report on Monday, July 27th. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $34.75.

Robert Half Trading Down 0.4%

The stock’s fifty day moving average price is $36.67 and its two-hundred day moving average price is $30.06. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of 37.90 and a beta of 0.79.

Robert Half (NYSE:RHI) last released its quarterly earnings data on Thursday, July 23rd. The business services provider reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.26. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Robert Half had a net margin of 2.17% and a return on equity of 9.18%. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the company earned $0.41 earnings per share. Analysts anticipate that Robert Half Inc. will post 1.27 earnings per share for the current fiscal year.

Robert Half Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, August 25th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, August 25th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 5.4%. Robert Half’s payout ratio is 205.22%.

Institutional Investors Weigh In On Robert Half

Large investors have recently modified their holdings of the company. BlackRock Inc. purchased a new position in Robert Half during the 2nd quarter worth $409,875,000. Pzena Investment Management LLC purchased a new position in shares of Robert Half during the 2nd quarter worth approximately $191,025,000. AQR Capital Management LLC raised its stake in shares of Robert Half by 190.5% during the 2nd quarter. AQR Capital Management LLC now owns 6,201,209 shares of the business services provider’s stock worth $254,560,000 after buying an additional 4,066,328 shares in the last quarter. Capital World Investors lifted its holdings in shares of Robert Half by 36.0% in the 4th 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 period. Finally, Brickwood Asset Management LLP acquired a new stake in shares of Robert Half in the 4th quarter valued at approximately $34,908,000. 92.41% of the stock is 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.