Robert Half (NYSE:RHI) Shares Down 5.2% - Time to Sell?

Key Points

• Robert Half shares fell 5.2% to about $34.26, with trading volume well below its average. The stock’s price is near its 200-day moving average but below its 50-day average.
• Analyst sentiment is mixed, with a consensus rating of “Hold” and a $34.75 target price. Recent firms issued upgrades, including BMO Capital Markets’ move to “Outperform” with a $47 target.
• The company reported quarterly revenue of $1.34 billion, up from expectations but down 2.4% year over year, while EPS matched estimates at $0.26. Robert Half also offers a $0.59 quarterly dividend, implying a 6.9% yield, though its payout ratio is high at 205.22%.

Robert Half Inc. (NYSE:RHI - Get Free Report)'s share price was down 5.2% on Monday. The company traded as low as $34.43 and last traded at $34.2590. 797,367 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 2,638,805 shares. The stock had previously closed at $36.12.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RHI. Weiss Ratings upgraded shares of Robert Half from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, September 24th. BMO Capital Markets raised Robert Half from a "market perform" rating to an "outperform" rating and set a $47.00 price target for the company in a research report on Monday, July 27th. Robert W. Baird set a $47.00 target price on shares of Robert Half in a research note on Monday, July 27th. 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, Zacks Research upgraded Robert Half from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 14th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $34.75.

Robert Half Stock Down 5.5%

The company has a market cap of $3.50 billion, a P/E ratio of 29.47 and a beta of 0.84. The stock has a 50 day moving average price of $40.49 and a two-hundred day moving average price of $33.19.

Robert Half (NYSE:RHI - Get Free Report) last announced its earnings results on Thursday, July 23rd. The business services provider reported $0.26 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.26. Robert Half had a net margin of 2.17% and a return on equity of 9.18%. The company had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.32 billion. During the same quarter in the previous year, the business posted $0.41 earnings per share. Robert Half's quarterly revenue was down 2.4% on a year-over-year basis. Equities analysts anticipate that Robert Half Inc. will post 1.27 EPS for the current year.

Robert Half Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, August 25th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 6.9%. The ex-dividend date of this dividend was Tuesday, August 25th. Robert Half's dividend payout ratio is 205.22%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Robert Half in the 2nd quarter valued at $409,875,000. Pzena Investment Management LLC acquired a new stake in shares of Robert Half during the 2nd quarter valued at $191,025,000. Capital World Investors grew its holdings in shares of Robert Half by 36.0% during the fourth quarter. Capital World Investors now owns 5,902,279 shares of the business services provider's stock worth $160,306,000 after purchasing an additional 1,561,146 shares during the last quarter. Geode Capital Management LLC increased its position in Robert Half by 13.0% in the 4th quarter. Geode Capital Management LLC now owns 2,396,148 shares of the business services provider's stock valued at $65,090,000 after acquiring an additional 275,004 shares during the period. Finally, Quantinno Capital Management LP increased its holdings in Robert Half by 53.9% in the first quarter. Quantinno Capital Management LP now owns 2,498,071 shares of the business services provider's stock valued at $63,451,000 after purchasing an additional 875,179 shares during the period. 92.41% of the stock is owned by institutional investors.

About Robert Half

Robert Half Inc NYSE: RHI is a specialized staffing and professional services company that connects employers with skilled talent for temporary, contract-to-hire and permanent positions. Its staffing operations serve areas including accounting and finance, technology, legal, administrative and customer support, marketing, and creative services.

The company also provides consulting and project-based services through Protiviti, its global consulting subsidiary. Protiviti advises organizations on internal audit, risk and compliance, technology, cybersecurity, digital transformation, finance, and business performance.

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