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

Key Points

• Robert Half shares reached a new 52-week high of $45.32 during intraday trading, with a market capitalization of approximately $4.46 billion.
• Analyst sentiment remains mixed: Truist raised its target to $50 with a buy rating, while the broader consensus is “Hold” with a $34.75 price target.
• The company matched quarterly EPS expectations at $0.26 and exceeded revenue forecasts with $1.34 billion, but revenue declined 2.4% year over year. Robert Half also declared a $0.59 quarterly dividend, representing a 5.4% yield.

Robert Half Inc. (NYSE:RHI - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $45.32 and last traded at $43.5880, with a volume of 1879659 shares trading hands. The stock had previously closed at $43.76.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Truist Financial raised their price target on Robert Half from $40.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, July 22nd. Weiss Ratings raised Robert Half from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday. Zacks Research raised shares of Robert Half from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 14th. Robert W. Baird set a $47.00 target price on shares of Robert Half in a research note on Monday, July 27th. Finally, The Goldman Sachs Group raised their target price on Robert Half from $26.00 to $29.00 and gave the stock a "sell" rating in a research note on Friday, July 24th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $34.75.

Robert Half Stock Performance

The firm's 50 day simple moving average is $36.67 and its 200 day simple moving average is $30.06. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of 37.90 and a beta of 0.79.

Robert Half (NYSE:RHI - Get Free Report) last issued its earnings results on Thursday, July 23rd. The business services provider reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. The firm had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.32 billion. Robert Half had a net margin of 2.17% and a return on equity of 9.18%. The firm's revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.41 earnings per share. As a group, sell-side analysts forecast that Robert Half Inc. will post 1.27 earnings per share for the current year.

Robert Half Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, August 25th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend is Tuesday, August 25th. Robert Half's payout ratio is 205.22%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC increased its holdings in shares of Robert Half by 321.0% during the 4th quarter. Larson Financial Group LLC now owns 1,002 shares of the business services provider's stock valued at $27,000 after purchasing an additional 764 shares in the last quarter. Gilpin Wealth Management LLC acquired a new stake in Robert Half during the fourth quarter valued at $27,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Robert Half in the second quarter valued at $34,000. Elevation Wealth Partners LLC increased its holdings in Robert Half by 605.6% in the second quarter. Elevation Wealth Partners LLC now owns 1,136 shares of the business services provider's stock valued at $35,000 after buying an additional 975 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in shares of Robert Half by 94.3% in the fourth quarter. Fifth Third Bancorp now owns 1,368 shares of the business services provider's stock worth $37,000 after acquiring an additional 664 shares during the period. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

About Robert Half

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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