Robert Half (NYSE:RHI) Stock Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Robert Half shares rose above their 200-day moving average, reaching $34.48 and last trading near $34.41 versus the $33.64 average.
• Analyst sentiment remains mixed: the stock has a consensus “Hold” rating and a $34.75 price target, with three Buy, four Hold, and three Sell ratings.
• The company matched quarterly EPS expectations at $0.26 and exceeded revenue estimates with $1.34 billion, while maintaining a quarterly dividend of $0.59 per share, representing a 6.9% yield.

Robert Half Inc. (NYSE:RHI - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $33.64 and traded as high as $34.48. Robert Half shares last traded at $34.4050, with a volume of 1,473,253 shares traded.

Wall Street Analysts Forecast Growth

RHI has been the topic of several research analyst reports. BMO Capital Markets upgraded shares of Robert Half from a "market perform" rating to an "outperform" rating and set a $47.00 price target on the stock in a research report on Monday, July 27th. The Goldman Sachs Group increased their price target on shares of Robert Half from $26.00 to $29.00 and gave the stock a "sell" rating in a research note on Friday, July 24th. Truist Financial raised their price objective on shares of Robert Half from $40.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. Robert W. Baird set a $47.00 price objective on shares of Robert Half in a report on Monday, July 27th. Finally, Weiss Ratings cut Robert Half from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $34.75.

Robert Half Price Performance

The company has a market capitalization of $3.52 billion, a PE ratio of 29.92 and a beta of 0.84. The company has a 50 day moving average of $39.91 and a two-hundred day moving average of $33.64.

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

Robert Half Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 6.9%. Robert Half's dividend payout ratio is currently 205.22%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. BlackRock Inc. bought a new position in shares of Robert Half during the second quarter valued at approximately $409,875,000. Pzena Investment Management LLC purchased a new position in shares of Robert Half during the second quarter valued at approximately $191,025,000. Bank of America Corp DE purchased a new position in shares of Robert Half during the second quarter valued at approximately $38,460,000. Hawk Ridge Capital Management LP lifted its holdings in shares of Robert Half by 134.2% during the first quarter. Hawk Ridge Capital Management LP now owns 1,785,400 shares of the business services provider's stock valued at $45,349,000 after purchasing an additional 1,023,000 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Robert Half by 281.2% in the 1st quarter. First Trust Advisors LP now owns 1,333,720 shares of the business services provider's stock worth $33,876,000 after purchasing an additional 983,842 shares in the last quarter. 92.41% of the stock is currently 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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