Robert Half (NYSE:RHI) Reaches New 12-Month Low - Time to Sell?

Key Points

• Robert Half Inc. shares reached a new 52-week low of $35.13 during Tuesday's trading, closing at $35.28 with a trading volume of 1,753,843 shares.
• Analysts' target prices for Robert Half vary, with estimates ranging from a high of $55.00 to a low of $40.00, while the consensus price target is $45.83 and a consensus rating of "Hold."
• The company reported $0.41 earnings per share for the last quarter, exceeding expectations, but experienced a 7.0% year-over-year decline in revenue.

Robert Half Inc. (NYSE:RHI - Get Free Report) shares hit a new 52-week low on Tuesday . The company traded as low as $35.13 and last traded at $35.28, with a volume of 1753843 shares. The stock had previously closed at $35.34.

Analysts Set New Price Targets

RHI has been the topic of a number of analyst reports. Truist Financial set a $55.00 price target on Robert Half and gave the stock a "buy" rating in a research note on Thursday, April 24th. The Goldman Sachs Group decreased their price objective on Robert Half from $46.00 to $40.00 and set a "sell" rating for the company in a research report on Thursday, April 24th. JPMorgan Chase & Co. decreased their price objective on Robert Half from $47.00 to $45.00 and set a "neutral" rating for the company in a research report on Thursday, July 24th. Barclays decreased their price objective on Robert Half from $50.00 to $45.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Finally, Wall Street Zen upgraded Robert Half from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Robert Half currently has a consensus rating of "Hold" and an average price target of $45.83.

Robert Half Trading Down 0.5%

The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of 19.55 and a beta of 1.02. The company has a fifty day moving average price of $41.07 and a 200-day moving average price of $48.97.

Robert Half (NYSE:RHI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.01. Robert Half had a return on equity of 13.00% and a net margin of 3.20%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same period in the previous year, the company earned $0.66 EPS. The firm's revenue was down 7.0% on a year-over-year basis. As a group, sell-side analysts predict that Robert Half Inc. will post 2.48 EPS for the current fiscal year.

Robert Half Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, August 25th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date of this dividend is Monday, August 25th. Robert Half's dividend payout ratio (DPR) is presently 134.86%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RHI. Quarry LP raised its stake in shares of Robert Half by 540.8% in the 1st quarter. Quarry LP now owns 487 shares of the business services provider's stock valued at $27,000 after acquiring an additional 411 shares in the last quarter. CX Institutional bought a new position in shares of Robert Half in the 1st quarter valued at approximately $33,000. GeoWealth Management LLC bought a new position in shares of Robert Half in the 4th quarter valued at approximately $35,000. Caitong International Asset Management Co. Ltd increased its position in Robert Half by 927.7% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 853 shares of the business services provider's stock worth $35,000 after buying an additional 770 shares during the period. Finally, True Wealth Design LLC increased its position in Robert Half by 393.8% in the 2nd quarter. True Wealth Design LLC now owns 963 shares of the business services provider's stock worth $40,000 after buying an additional 768 shares during the period. 92.41% of the stock is owned by institutional investors.

About Robert Half

Robert Half Inc provides talent solutions and business consulting services in North America, South America, Europe, Asia, and Australia. The company operates through Contract Talent Solutions, Permanent Placement Talent Solutions, and Protiviti segments. The Contract Talent Solutions segment provides contract engagement professionals in the fields of finance and accounting, technology, marketing and creative, legal and administrative, and customer support.