Robert Half (NYSE:RHI) Sets New 52-Week Low - Here's Why

Robert Half Inc. (NYSE:RHI - Get Free Report)'s stock price hit a new 52-week low during trading on Friday . The company traded as low as $39.98 and last traded at $40.19, with a volume of 1965861 shares. The stock had previously closed at $41.34.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on RHI shares. Wall Street Zen upgraded shares of Robert Half from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. Barclays cut their price objective on Robert Half from $50.00 to $45.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Truist Financial set a $55.00 price objective on Robert Half and gave the company a "buy" rating in a report on Thursday, April 24th. The Goldman Sachs Group decreased their price target on shares of Robert Half from $46.00 to $40.00 and set a "sell" rating on the stock in a research note on Thursday, April 24th. Finally, BNP Paribas lowered shares of Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 price objective for the company. in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $48.71.

Robert Half Stock Performance

The company's 50-day simple moving average is $45.17 and its two-hundred day simple moving average is $56.26. The firm has a market cap of $4.12 billion, a PE ratio of 20.18 and a beta of 1.05.

Robert Half (NYSE:RHI - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The business services provider reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.19). The firm had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.41 billion. Robert Half had a return on equity of 14.54% and a net margin of 3.62%. The business's revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.61 earnings per share. On average, analysts expect that Robert Half Inc. will post 2.48 EPS for the current year.

Robert Half Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 23rd were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 5.85%. The ex-dividend date of this dividend was Friday, May 23rd. Robert Half's dividend payout ratio (DPR) is currently 118.00%.

Institutional Investors Weigh In On Robert Half

Several institutional investors and hedge funds have recently modified their holdings of RHI. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Robert Half by 613.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the business services provider's stock worth $25,000 after buying an additional 313 shares during the period. Headlands Technologies LLC purchased a new position in shares of Robert Half in the 4th quarter valued at approximately $26,000. Quarry LP lifted 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 purchasing an additional 411 shares during the period. Signaturefd LLC grew its stake in Robert Half by 121.3% in the fourth quarter. Signaturefd LLC now owns 436 shares of the business services provider's stock worth $31,000 after purchasing an additional 239 shares during the period. Finally, CX Institutional bought a new position in shares of Robert Half during the first quarter valued at approximately $33,000. 92.41% of the stock is 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.