Robert Half (NYSE:RHI) Releases Earnings Results, Beats Expectations By $0.01 EPS

Robert Half (NYSE:RHI - Get Free Report) released its earnings results on Wednesday. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.01, Zacks reports. Robert Half had a return on equity of 13.00% and a net margin of 3.20%. The company had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.35 billion. During the same quarter in the previous year, the firm posted $0.66 EPS. The firm's quarterly revenue was down 7.0% on a year-over-year basis.

Robert Half Stock Performance

NYSE:RHI traded down $0.04 during mid-day trading on Friday, hitting $39.80. 1,872,401 shares of the company's stock traded hands, compared to its average volume of 2,169,190. The firm's 50 day simple moving average is $43.09 and its 200 day simple moving average is $51.13. Robert Half has a 1 year low of $38.90 and a 1 year high of $78.41. The company has a market cap of $4.07 billion, a PE ratio of 22.74 and a beta of 1.00.

Robert Half Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 23rd were issued a dividend of $0.59 per share. The ex-dividend date was Friday, May 23rd. This represents a $2.36 annualized dividend and a yield of 5.93%. Robert Half's dividend payout ratio (DPR) is currently 134.86%.

Hedge Funds Weigh In On Robert Half

Several hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC increased its holdings in Robert Half by 91.8% during the 1st quarter. Empowered Funds LLC now owns 55,719 shares of the business services provider's stock valued at $3,039,000 after acquiring an additional 26,672 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Robert Half by 2.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 304,359 shares of the business services provider's stock valued at $16,603,000 after acquiring an additional 7,523 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in Robert Half by 498.7% during the 1st quarter. Jones Financial Companies Lllp now owns 6,813 shares of the business services provider's stock valued at $372,000 after acquiring an additional 5,675 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in Robert Half by 19.3% during the 1st quarter. Royal Bank of Canada now owns 38,352 shares of the business services provider's stock valued at $2,092,000 after acquiring an additional 6,212 shares in the last quarter. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on RHI shares. JPMorgan Chase & Co. reduced their price objective on shares of Robert Half from $47.00 to $45.00 and set a "neutral" rating for the company in a research note on Thursday. The Goldman Sachs Group reduced their price objective on shares of Robert Half from $46.00 to $40.00 and set a "sell" rating for the company in a research note on Thursday, April 24th. BNP Paribas Exane cut shares of Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 price objective for the company. in a research note on Friday, May 2nd. Truist Financial set a $55.00 price objective on shares of Robert Half and gave the company a "buy" rating in a research note on Thursday, April 24th. Finally, Barclays reduced their price objective on shares of 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. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Robert Half presently has an average rating of "Hold" and a consensus price target of $45.83.

Robert Half Company Profile

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.