Robert Half (NYSE:RHI) Announces Earnings Results, Meets Estimates

Key Points

• Robert Half reported quarterly earnings of $0.26 per share, matching analysts’ expectations, while revenue came in at $1.34 billion, slightly above the consensus estimate of $1.32 billion.
• The stock fell 6.7% on Thursday to $37.95 despite the earnings report, with trading volume above average.
• The company also paid a quarterly dividend of $0.59 per share, equal to an annualized yield of 6.2%, though its payout ratio remains high at 181.54%.

Robert Half (NYSE:RHI - Get Free Report) released its earnings results on Thursday. The business services provider reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26, FiscalAI reports. The company 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 10.14% and a net margin of 2.43%.

Robert Half Trading Down 6.7%

Shares of RHI stock traded down $2.75 on Thursday, reaching $37.95. 4,380,806 shares of the stock were exchanged, compared to its average volume of 2,875,520. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of 29.20 and a beta of 0.82. The business's 50 day moving average price is $31.75 and its 200 day moving average price is $28.28. Robert Half has a twelve month low of $21.83 and a twelve month high of $42.65.

Robert Half Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 22nd were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 6.2%. The ex-dividend date of this dividend was Friday, May 22nd. Robert Half's payout ratio is 181.54%.

Analysts Set New Price Targets

RHI has been the subject of a number of research reports. Truist Financial lifted 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. Weiss Ratings raised shares of Robert Half from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, June 17th. The Goldman Sachs Group boosted their price target on shares of Robert Half from $23.00 to $26.00 and gave the stock a "sell" rating in a research note on Tuesday, July 14th. Zacks Research upgraded Robert Half from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 14th. Finally, William Blair upgraded Robert Half from a "market perform" rating to an "outperform" rating in a report on Tuesday, April 21st. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $32.88.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC lifted its position in Robert Half by 190.5% in the second quarter. AQR Capital Management LLC now owns 6,201,209 shares of the business services provider's stock valued at $254,560,000 after acquiring an additional 4,066,328 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Robert Half by 112.3% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 2,079,623 shares of the business services provider's stock worth $56,483,000 after purchasing an additional 1,100,008 shares in the last quarter. Qube Research & Technologies Ltd increased its position in shares of Robert Half by 1,478.6% during the second quarter. Qube Research & Technologies Ltd now owns 1,145,456 shares of the business services provider's stock worth $47,021,000 after purchasing an additional 1,072,895 shares in the last quarter. Hawk Ridge Capital Management LP lifted its holdings in shares of Robert Half by 2,679.9% in the 4th quarter. Hawk Ridge Capital Management LP now owns 762,400 shares of the business services provider's stock valued at $20,707,000 after purchasing an additional 734,975 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Robert Half by 49.2% in the 4th quarter. Invesco Ltd. now owns 1,933,796 shares of the business services provider's stock valued at $52,522,000 after purchasing an additional 638,084 shares during the period. Hedge funds and other institutional investors own 92.41% of the company's stock.

Robert Half Company Profile

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.

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