Robert Half Inc. (NYSE:RHI) Stock Has Average Target Price of $34.75

Robert Half Inc. (NYSE:RHI) has earned a consensus rating of “Hold” from the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $35.86.

RHI has been the subject of several analyst reports. Robert W. Baird set a $47.00 price objective on Robert Half in a research note on Monday, July 27th. Weiss Ratings lowered shares of Robert Half from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, October 9th. Zacks Research upgraded shares of Robert Half from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Truist Financial lifted their price target on Robert Half from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Finally, The Goldman Sachs Group upped their price objective on Robert Half from $26.00 to $29.00 and gave the company a “sell” rating in a research note on Friday, July 24th.

Hedge Funds Weigh In On Robert Half

Several hedge funds have recently bought and sold shares of RHI. Reyes Financial Architecture Inc. purchased a new stake in Robert Half during the third quarter valued at about $36,000. Elevation Wealth Partners LLC lifted its position in Robert Half by 605.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 1,136 shares of the business services provider’s stock worth $35,000 after buying an additional 975 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in Robert Half during the second quarter valued at approximately $39,000. Quantbot Technologies LP purchased a new position in shares of Robert Half during the second quarter worth approximately $39,000. Finally, Fortitude Family Office LLC grew its holdings in shares of Robert Half by 315.8% during the 3rd quarter. Fortitude Family Office LLC now owns 1,372 shares of the business services provider’s stock valued at $50,000 after purchasing an additional 1,042 shares during the last quarter. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Robert Half Stock Up 9.0%

Robert Half stock opened at $37.75 on Tuesday. The company has a market capitalization of $3.86 billion, a PE ratio of 30.12 and a beta of 0.84. Robert Half has a 12-month low of $21.83 and a 12-month high of $46.70. The firm’s fifty day moving average is $38.75 and its 200 day moving average is $34.17.

Robert Half (NYSE:RHI) last announced its quarterly earnings results on Thursday, October 22nd. The business services provider reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.02. Robert Half had a return on equity of 9.18% and a net margin of 2.17%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the prior year, the company earned $0.43 earnings per share. The company’s quarterly revenue was up .4% on a year-over-year basis. Sell-side analysts expect that Robert Half will post 1.27 EPS for the current fiscal year.

Robert Half Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, August 25th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, August 25th. This represents a $2.36 annualized dividend and a dividend yield of 6.3%. Robert Half’s payout ratio is 205.22%.

Key Robert Half News

Here are the key news stories impacting Robert Half this week:

• Positive Sentiment: Adjusted earnings beat estimates: Robert Half reported third-quarter earnings of $0.49 per share, exceeding the $0.47 consensus estimate and rising from $0.43 in the year-ago quarter. The earnings outperformance is likely the primary catalyst for the stock’s advance. Robert Half Beats Q3 Earnings Estimates
• Positive Sentiment: Profit and revenue increased year over year: Quarterly revenue was approximately $1.36 billion, up 0.4% from the prior-year period, while net income also advanced. The results suggest modest stabilization in demand for Robert Half’s services. Robert Half Q3 Net Income, Revenue Rise

About Robert Half

Robert Half Inc (NYSE: RHI) is a global talent solutions and business consulting company. Through its Robert Half brand, the company provides temporary, project-based and permanent staffing services, connecting employers with professionals in accounting and finance, administrative and customer support, technology, legal, and marketing and creative fields.

Robert Half also operates Protiviti, a global consulting firm that helps organizations address internal audit, risk and compliance, technology, business performance, and digital transformation challenges.