Robert Half (NYSE:RHI) Shares Down 5.5% – Here’s What Happened

Robert Half Inc. (NYSE:RHI) shares dropped 5.5% during mid-day trading on Tuesday. The stock traded as low as $42.48 and last traded at $42.51. 1,477,556 shares changed hands during trading, a decline of 43% from the average daily volume of 2,612,284 shares. The stock had previously closed at $44.98.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Barclays raised their price target on shares of Robert Half from $25.00 to $40.00 and gave the company an “equal weight” rating in a report on Monday. JPMorgan Chase & Co. boosted their price objective on shares of Robert Half from $40.00 to $45.00 and gave the company a “neutral” rating in a report on Friday. Truist Financial increased their price objective on shares of Robert Half from $40.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Robert W. Baird set a $53.00 price objective on Robert Half in a research report on Friday. Finally, BMO Capital Markets lifted their price objective on Robert Half from $47.00 to $50.00 and gave the company an “outperform” rating in a report on Monday. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $40.75.

Robert Half Price Performance

The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of 35.16 and a beta of 0.84. The business’s 50 day moving average price is $38.86 and its 200-day moving average price is $31.95.

Robert Half (NYSE:RHI) last announced its quarterly earnings data on Thursday, October 22nd. The business services provider reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. Robert Half had a net margin of 2.30% and a return on equity of 9.83%. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the firm earned $0.43 earnings per share. The firm’s revenue was up .4% compared to the same quarter last year. As a group, analysts expect that Robert Half Inc. will post 1.28 earnings per share for the current fiscal year.

Robert Half Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, August 25th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend was Tuesday, August 25th. Robert Half’s dividend payout ratio is 195.04%.

Institutional Trading of Robert Half

A number of institutional investors have recently modified their holdings of RHI. Assenagon Asset Management S.A. acquired a new stake in Robert Half in the second quarter valued at $7,727,000. Cornerstone Capital Inc. acquired a new position in shares of Robert Half during the 2nd quarter worth $8,136,000. Proficio Capital Partners LLC acquired a new position in shares of Robert Half during the 2nd quarter worth $387,000. Legal & General Group Plc acquired a new position in shares of Robert Half during the 2nd quarter worth $9,450,000. Finally, Tidal Investments LLC increased its holdings in shares of Robert Half by 34.4% in the 2nd quarter. Tidal Investments LLC now owns 62,884 shares of the business services provider’s stock valued at $1,931,000 after purchasing an additional 16,101 shares in the last quarter. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

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.