Robert Half (NYSE:RHI) Reaches New 12-Month Low - What's Next?

Key Points

• Shares of Robert Half Inc. reached a new 52-week low at $30.81, marking a significant decline in stock value.
• Analysts have lowered their ratings and price targets for the company, with Zacks Research downgrading it to a "strong sell", while JP Morgan and Truist also adjusted their price targets downward.
• The company announced a quarterly dividend of $0.59, yielding 7.7%, with a payout ratio currently at 134.86%.

Shares of Robert Half Inc. (NYSE:RHI - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $30.81 and last traded at $30.86, with a volume of 644904 shares. The stock had previously closed at $31.35.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on RHI shares. Zacks Research cut Robert Half from a "hold" rating to a "strong sell" rating in a report on Monday, September 22nd. JPMorgan Chase & Co. cut their target price on Robert Half from $47.00 to $45.00 and set a "neutral" rating for the company in a research note on Thursday, July 24th. Truist Financial cut their target price on Robert Half from $55.00 to $50.00 and set a "buy" rating for the company in a research note on Monday, October 13th. Weiss Ratings reissued a "sell (d+)" rating on shares of Robert Half in a research note on Tuesday, October 14th. Finally, Wall Street Zen raised Robert Half from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Reduce" and an average price target of $45.00.

Robert Half Stock Down 1.8%

The stock has a market capitalization of $3.13 billion, a PE ratio of 17.59 and a beta of 1.02. The stock has a fifty day moving average of $35.07 and a 200-day moving average of $40.59.

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, topping analysts' consensus estimates of $0.40 by $0.01. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.35 billion. Robert Half had a return on equity of 13.00% and a net margin of 3.20%.Robert Half's revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.66 EPS. Equities research analysts expect that Robert Half Inc. will post 2.48 EPS for the current year.

Robert Half Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, August 25th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 7.7%. The ex-dividend date of this dividend was Monday, August 25th. Robert Half's payout ratio is presently 134.86%.

Institutional Trading of Robert Half

Institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP lifted its holdings 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 last quarter. Manchester Capital Management LLC increased its position in Robert Half by 45.0% in the 1st quarter. Manchester Capital Management LLC now owns 825 shares of the business services provider's stock valued at $45,000 after acquiring an additional 256 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Robert Half in the 2nd quarter valued at about $34,000. 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 valued at $35,000 after acquiring 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 valued at $40,000 after acquiring an additional 768 shares during the period. 92.41% of the stock is owned by hedge funds and other institutional investors.

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.

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