Q2 2024 EPS Estimates for Robert Half Inc. Cut by Analyst (NYSE:RHI)

Robert Half Inc. (NYSE:RHIFree Report) – Research analysts at Zacks Research dropped their Q2 2024 earnings per share estimates for Robert Half in a research report issued on Thursday, May 16th. Zacks Research analyst R. Department now anticipates that the business services provider will post earnings of $0.72 per share for the quarter, down from their previous estimate of $0.79. The consensus estimate for Robert Half’s current full-year earnings is $2.92 per share. Zacks Research also issued estimates for Robert Half’s Q3 2024 earnings at $0.78 EPS, Q4 2024 earnings at $0.81 EPS, FY2024 earnings at $2.92 EPS, Q1 2025 earnings at $0.76 EPS, Q2 2025 earnings at $0.98 EPS, Q3 2025 earnings at $1.11 EPS, FY2025 earnings at $3.71 EPS and FY2026 earnings at $4.29 EPS.

Robert Half (NYSE:RHIGet Free Report) last announced its quarterly earnings results on Thursday, April 25th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Robert Half had a net margin of 5.74% and a return on equity of 22.36%. The company’s revenue was down 14.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.14 EPS.

Several other equities research analysts have also recently weighed in on the company. Truist Financial raised Robert Half from a “sell” rating to a “hold” rating and set a $72.00 price target for the company in a research note on Monday, April 22nd. BMO Capital Markets dropped their price target on shares of Robert Half from $85.00 to $80.00 and set a “market perform” rating on the stock in a research report on Wednesday, January 31st. StockNews.com cut shares of Robert Half from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Robert W. Baird lowered their target price on shares of Robert Half from $84.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $68.14.

Read Our Latest Stock Analysis on RHI

Robert Half Stock Down 2.3 %

NYSE RHI opened at $68.75 on Monday. The company has a market capitalization of $7.21 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 3.40 and a beta of 1.30. Robert Half has a twelve month low of $64.65 and a twelve month high of $88.39. The stock has a fifty day simple moving average of $73.58 and a 200 day simple moving average of $78.89.

Institutional Trading of Robert Half

A number of hedge funds and other institutional investors have recently bought and sold shares of RHI. Hsbc Holdings PLC increased its position in shares of Robert Half by 17.8% during the third quarter. Hsbc Holdings PLC now owns 785,690 shares of the business services provider’s stock worth $57,594,000 after acquiring an additional 118,800 shares in the last quarter. Ontario Teachers Pension Plan Board raised its stake in shares of Robert Half by 151.9% in the third quarter. Ontario Teachers Pension Plan Board now owns 72,505 shares of the business services provider’s stock worth $5,313,000 after purchasing an additional 43,726 shares during the last quarter. Twin Capital Management Inc. lifted its holdings in shares of Robert Half by 38.7% in the fourth quarter. Twin Capital Management Inc. now owns 7,700 shares of the business services provider’s stock valued at $677,000 after purchasing an additional 2,148 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of Robert Half by 34.0% during the fourth quarter. Mackenzie Financial Corp now owns 53,265 shares of the business services provider’s stock valued at $4,683,000 after buying an additional 13,503 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in Robert Half by 88.5% during the third quarter. Nordea Investment Management AB now owns 27,740 shares of the business services provider’s stock worth $2,048,000 after buying an additional 13,026 shares in the last quarter. Institutional investors own 92.41% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Robert W. Glass sold 7,500 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $80.46, for a total transaction of $603,450.00. Following the transaction, the executive vice president now owns 186,062 shares in the company, valued at $14,970,548.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Robert W. Glass sold 7,500 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $80.46, for a total value of $603,450.00. Following the completion of the sale, the executive vice president now directly owns 186,062 shares of the company’s stock, valued at approximately $14,970,548.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dirk A. Kempthorne sold 2,221 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $69.66, for a total value of $154,714.86. Following the completion of the transaction, the director now owns 10,713 shares in the company, valued at approximately $746,267.58. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.

Robert Half Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 24th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 3.08%. The ex-dividend date is Thursday, May 23rd. Robert Half’s dividend payout ratio is presently 63.47%.

About Robert Half

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Robert Half Inc provides talent solutions and business consulting services in North America, South America, Europe, Asia, and Australia. The company operates through Contract Talent Solutions, Permanent Placement Talent Solutions, and Protiviti segments. The Contract Talent Solutions segment provides contract engagement professionals in the fields of finance and accounting, technology, marketing and creative, legal and administrative, and customer support.

Further Reading

Earnings History and Estimates for Robert Half (NYSE:RHI)

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