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

Shares of Robert Half Inc. (NYSE:RHI - Get Free Report) hit a new 52-week low on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $47.00 to $45.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Robert Half 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 a number of other reports. Truist Financial set a $55.00 price objective on Robert Half and gave the company a "buy" rating in a research note on Thursday, April 24th. BNP Paribas Exane lowered Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 price objective on the stock. in a research note on Friday, May 2nd. Wall Street Zen raised Robert Half from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. Barclays dropped their target price 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, The Goldman Sachs Group dropped their price objective on Robert Half from $46.00 to $40.00 and set a "sell" rating for the company in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $48.43.

Institutional Investors Weigh In On Robert Half

Several hedge funds and other institutional investors have recently modified their holdings of the company. Signaturefd LLC raised its stake in shares of Robert Half by 121.3% in the fourth quarter. Signaturefd LLC now owns 436 shares of the business services provider's stock worth $31,000 after purchasing an additional 239 shares during the last quarter. Xponance Inc. increased its position in Robert Half by 17.8% in the fourth quarter. Xponance Inc. now owns 6,195 shares of the business services provider's stock worth $436,000 after buying an additional 936 shares during the last quarter. Teacher Retirement System of Texas increased its position in Robert Half by 41.1% in the fourth quarter. Teacher Retirement System of Texas now owns 27,668 shares of the business services provider's stock worth $1,949,000 after buying an additional 8,056 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Robert Half by 6.4% in the fourth quarter. American Century Companies Inc. now owns 197,696 shares of the business services provider's stock worth $13,930,000 after acquiring an additional 11,854 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in Robert Half in the 4th quarter worth about $1,754,000. Institutional investors own 92.41% of the company's stock.

Robert Half Stock Performance

The firm has a 50 day simple moving average of $43.40 and a 200 day simple moving average of $51.64. The firm has a market cap of $4.02 billion, a P/E ratio of 19.70 and a beta of 1.00.

Robert Half (NYSE:RHI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.01. Robert Half had a return on equity of 14.54% and a net margin of 3.62%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the previous year, the company posted $0.66 earnings per share. The company's revenue was down 7.0% compared to the same quarter last year. Sell-side analysts predict that Robert Half Inc. will post 2.48 EPS for the current fiscal year.

Robert Half Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 23rd were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 5.99%. The ex-dividend date was Friday, May 23rd. Robert Half's payout ratio is presently 118.00%.

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.

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