Robert Half (NYSE:RHI) Reaches New 52-Week High - Here's What Happened

Key Points

• Robert Half shares hit a new 52-week high, reaching $43.94 and trading substantially above the prior close of $40.68. The stock has climbed above its 50-day and 200-day moving averages.
• Analyst sentiment remains mixed: Truist raised its price target to $50 and rated the stock a buy, while Goldman Sachs maintained a sell rating with a $29 target. The consensus rating is “Reduce,” with an average target price of $34.75.
• Robert Half reported quarterly revenue of $1.34 billion and adjusted earnings of $0.26 per share, matching estimates, though revenue declined 2.4% year over year. The company announced a $0.59 quarterly dividend, equivalent to a 5.5% yield, but its payout ratio exceeds 200%.

Shares of Robert Half Inc. (NYSE:RHI - Get Free Report) reached a new 52-week high on Friday . The stock traded as high as $43.94 and last traded at $43.9670, with a volume of 196821 shares trading hands. The stock had previously closed at $40.68.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. William Blair upgraded shares of Robert Half from a "market perform" rating to an "outperform" rating in a report on Tuesday, April 21st. Weiss Ratings upgraded shares of Robert Half from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, June 17th. Zacks Research raised shares of Robert Half from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 14th. Truist Financial boosted their price objective on shares of Robert Half from $40.00 to $50.00 and gave the stock a "buy" rating in a research note on Wednesday, July 22nd. Finally, The Goldman Sachs Group upped their target price on Robert Half from $26.00 to $29.00 and gave the stock a "sell" rating in a report on Friday, July 24th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and an average target price of $34.75.

Robert Half Price Performance

The firm has a market capitalization of $4.38 billion, a P/E ratio of 37.41 and a beta of 0.79. The stock's fifty day simple moving average is $34.48 and its 200 day simple moving average is $29.11.

Robert Half (NYSE:RHI - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The business services provider reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. Robert Half had a net margin of 2.17% and a return on equity of 9.18%. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the firm posted $0.41 earnings per share. The company's quarterly revenue was down 2.4% on a year-over-year basis. As a group, sell-side analysts forecast that Robert Half Inc. will post 1.29 EPS for the current fiscal year.

Robert Half Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, August 25th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $2.36 dividend on an annualized basis and a yield of 5.5%. Robert Half's dividend payout ratio is presently 205.22%.

Hedge Funds Weigh In On Robert Half

Several institutional investors and hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC increased its position in Robert Half by 190.5% during the 2nd quarter. AQR Capital Management LLC now owns 6,201,209 shares of the business services provider's stock valued at $254,560,000 after buying an additional 4,066,328 shares in the last quarter. Pzena Investment Management LLC boosted its holdings in Robert Half by 35.8% in the first quarter. Pzena Investment Management LLC now owns 5,966,734 shares of the business services provider's stock worth $151,555,000 after acquiring an additional 1,571,883 shares in the last quarter. Capital World Investors grew its stake in shares of Robert Half by 36.0% during the fourth quarter. Capital World Investors now owns 5,902,279 shares of the business services provider's stock worth $160,306,000 after acquiring an additional 1,561,146 shares during the last quarter. Brickwood Asset Management LLP purchased a new stake in shares of Robert Half during the fourth quarter worth about $34,908,000. Finally, Norges Bank acquired a new position in shares of Robert Half during the fourth quarter valued at about $33,832,000. 92.41% of the stock is owned by hedge funds and other institutional investors.

Robert Half Company Profile

Robert Half International Inc, founded in 1948 by Robert Half, is a global professional staffing and consulting firm headquartered in Menlo Park, California. As a pioneer in specialized staffing, the company has built a reputation for matching skilled professionals with leading organizations across a range of industries. Robert Half's shares trade on the New York Stock Exchange under the ticker RHI, reflecting its position as one of the longest‐standing and best‐known firms in the staffing sector.

The company offers a comprehensive suite of services, including temporary staffing, permanent placement, and consulting solutions.

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