Robert Half (NYSE:RHI) Reaches New 52-Week Low on Analyst Downgrade

Robert Half Inc. (NYSE:RHI - Get Free Report) reached a new 52-week low on Thursday after Wall Street Zen downgraded the stock from a hold rating to a sell rating. The stock traded as low as $39.38 and last traded at $39.36, with a volume of 1551720 shares trading hands. The stock had previously closed at $42.40.

RHI has been the topic of several other reports. The Goldman Sachs Group reduced their target price on Robert Half from $46.00 to $40.00 and set a "sell" rating on the stock in a research report on Thursday, April 24th. Truist Financial set a $55.00 target price on Robert Half and gave the company a "buy" rating in a report on Thursday, April 24th. BNP Paribas lowered Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 price objective for the company. in a research report on Friday, May 2nd. Barclays lowered their price target on Robert Half from $50.00 to $45.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Finally, BNP Paribas Exane cut Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 price target on the stock. in a research note on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $45.83.

Hedge Funds Weigh In On Robert Half

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in Robert Half by 92.9% in the first quarter. GAMMA Investing LLC now owns 2,091 shares of the business services provider's stock worth $114,000 after acquiring an additional 1,007 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Robert Half by 4.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 76,378 shares of the business services provider's stock worth $4,166,000 after buying an additional 3,248 shares in the last quarter. Allworth Financial LP boosted its stake in Robert Half by 80.4% in the 1st quarter. Allworth Financial LP now owns 1,458 shares of the business services provider's stock worth $80,000 after purchasing an additional 650 shares during the period. CX Institutional acquired a new position in Robert Half in the 1st quarter worth approximately $33,000. Finally, Deutsche Bank AG boosted its stake in shares of Robert Half by 21.3% during the 4th quarter. Deutsche Bank AG now owns 9,682 shares of the business services provider's stock valued at $682,000 after buying an additional 1,700 shares during the period. 92.41% of the stock is owned by hedge funds and other institutional investors.

Robert Half Stock Performance

The company has a market cap of $4.04 billion, a price-to-earnings ratio of 22.60 and a beta of 1.00. The business's 50 day simple moving average is $43.09 and its 200-day simple moving average is $51.01.

Robert Half (NYSE:RHI - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The business services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.40 by $0.01. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.35 billion. Robert Half had a net margin of 3.20% and a return on equity of 13.00%. The business's quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 EPS. Research analysts expect that Robert Half Inc. will post 2.48 earnings per share for the current year.

Robert Half Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 23rd were given a dividend of $0.59 per share. The ex-dividend date was Friday, May 23rd. This represents a $2.36 annualized dividend and a dividend yield of 5.97%. Robert Half's dividend payout ratio (DPR) is currently 134.86%.

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.