Robert Half (NYSE:RHI) Sets New 12-Month Low – Here’s What Happened

Robert Half Inc. (NYSE:RHI) shares hit a new 52-week low on Friday . The company traded as low as $22.26 and last traded at $22.3610, with a volume of 2681677 shares. The stock had previously closed at $22.76.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Zacks Research raised shares of Robert Half from a “strong sell” rating to a “hold” rating in a research note on Monday, February 2nd. Weiss Ratings restated a “sell (d)” rating on shares of Robert Half in a report on Monday, December 29th. BMO Capital Markets decreased their price target on Robert Half from $35.00 to $32.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 17th. Truist Financial increased their price objective on Robert Half from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Finally, The Goldman Sachs Group lifted their target price on shares of Robert Half from $24.00 to $27.00 and gave the stock a “sell” rating in a research note on Tuesday, February 3rd. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $31.75.

Robert Half Trading Down 1.8%

The company’s fifty day simple moving average is $27.12 and its 200 day simple moving average is $29.36. The firm has a market capitalization of $2.26 billion, a P/E ratio of 16.81 and a beta of 0.90.

Robert Half (NYSE:RHI) last issued its quarterly earnings results on Thursday, January 29th. The business services provider reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Robert Half had a net margin of 2.47% and a return on equity of 10.26%. Robert Half’s revenue was down 5.8% on a year-over-year basis. During the same period last year, the company posted $0.53 EPS. On average, analysts predict that Robert Half Inc. will post 2.48 earnings per share for the current fiscal year.

Robert Half Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Wednesday, February 25th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 10.6%. The ex-dividend date is Wednesday, February 25th. Robert Half’s dividend payout ratio (DPR) is currently 177.44%.

Hedge Funds Weigh In On Robert Half

A number of hedge funds have recently added to or reduced their stakes in RHI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Robert Half during the 2nd quarter valued at $34,000. Gilpin Wealth Management LLC bought a new position in Robert Half during the 4th quarter valued at about $27,000. Larson Financial Group LLC boosted its holdings in 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. Danske Bank A S purchased a new stake in Robert Half during the 3rd quarter valued at $37,000. Finally, Hantz Financial Services Inc. lifted its holdings in shares of Robert Half by 952.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,105 shares of the business services provider’s stock valued at $38,000 after buying an additional 1,000 shares during the period. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

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.