Robert Half (NYSE:RHI) Reaches New 1-Year 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)'s share price hit a new 52-week low during trading on Tuesday . The company traded as low as $35.13 and last traded at $35.28, with a volume of 1753843 shares changing hands. The stock had previously closed at $35.34.

Wall Street Analyst Weigh In

RHI has been the subject of a number of recent research reports. Truist Financial set a $55.00 price target on shares of 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. BNP Paribas lowered Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 target price on the stock. in a report on Friday, May 2nd. Barclays cut their price target on Robert Half from $50.00 to $45.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Robert Half from $47.00 to $45.00 and set a "neutral" rating on the stock in a research note on Thursday, July 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $45.83.

Robert Half Stock Performance

The stock's fifty day moving average price is $41.30 and its 200-day moving average price is $49.23. The firm has a market cap of $3.51 billion, a PE ratio of 19.65 and a beta of 1.02.

Robert Half (NYSE:RHI - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.01. The business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.35 billion. Robert Half had a return on equity of 13.00% and a net margin of 3.20%. The company's revenue was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.66 EPS. Sell-side analysts forecast that Robert Half Inc. will post 2.48 earnings per share for the current fiscal year.

Robert Half Announces Dividend

The firm 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 yield of 6.9%. The ex-dividend date of this dividend is Monday, August 25th. Robert Half's dividend payout ratio is presently 134.86%.

Hedge Funds Weigh In On Robert Half

Hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its position in shares of Robert Half by 5.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,618,177 shares of the business services provider's stock valued at $197,372,000 after purchasing an additional 184,592 shares during the last quarter. Alliancebernstein L.P. increased its position in Robert Half by 1.6% during the first quarter. Alliancebernstein L.P. now owns 3,268,435 shares of the business services provider's stock worth $178,293,000 after buying an additional 50,436 shares in the last quarter. Fiduciary Management Inc. WI raised its holdings in shares of Robert Half by 14.4% in the first quarter. Fiduciary Management Inc. WI now owns 2,576,782 shares of the business services provider's stock worth $140,563,000 after acquiring an additional 325,241 shares during the last quarter. Pzena Investment Management LLC lifted its position in shares of Robert Half by 80.3% in the second quarter. Pzena Investment Management LLC now owns 2,377,277 shares of the business services provider's stock valued at $97,587,000 after acquiring an additional 1,058,569 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Robert Half by 27.2% during the first quarter. AQR Capital Management LLC now owns 2,134,881 shares of the business services provider's stock valued at $115,348,000 after acquiring an additional 457,025 shares during the last quarter. 92.41% of the stock is currently owned by hedge funds and other 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.