Robert Half (NYSE:RHI) Reaches New 52-Week Low - Time to Sell?

Key Points

• Robert Half Inc. shares hit a new 52-week low at $31.25, closing at $31.88, indicating potential market concern over the stock's performance.
• Analysts are divided on the stock, with the consensus rating being "Reduce" and a price target of $45.00, reflecting mixed sentiment amid recent upgrades and downgrades.
• The company reported $1.37 billion in revenue for the last quarter, a 7% decrease year-over-year, despite beating earnings expectations with an EPS of $0.41.

Robert Half Inc. (NYSE:RHI - Get Free Report) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $31.25 and last traded at $31.88, with a volume of 60613 shares trading hands. The stock had previously closed at $32.07.

Analyst Ratings Changes

RHI has been the topic of several analyst reports. Wall Street Zen upgraded Robert Half from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Truist Financial dropped their price target on Robert Half from $55.00 to $50.00 and set a "buy" rating on the stock in a research note on Monday. JPMorgan Chase & Co. dropped their price target on Robert Half from $47.00 to $45.00 and set a "neutral" rating on the stock in a research note on Thursday, July 24th. Weiss Ratings restated a "sell (d+)" rating on shares of Robert Half in a research note on Tuesday. Finally, Zacks Research lowered Robert Half from a "hold" rating to a "strong sell" rating in a research note on Monday, September 22nd. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Reduce" and a consensus price target of $45.00.

Robert Half Stock Down 0.2%

The stock has a 50-day moving average of $35.27 and a 200 day moving average of $41.19. The stock has a market cap of $3.26 billion, a PE ratio of 18.28 and a beta of 1.02.

Robert Half (NYSE:RHI - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The business services provider reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.01. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the firm earned $0.66 earnings per share. On average, equities analysts anticipate that Robert Half Inc. will post 2.48 EPS for the current year.

Robert Half Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, August 25th were issued a $0.59 dividend. The ex-dividend date of this dividend was Monday, August 25th. This represents a $2.36 dividend on an annualized basis and a yield of 7.4%. Robert Half's payout ratio is presently 134.86%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Brighton Jones LLC lifted its holdings in Robert Half by 12.8% in the third quarter. Brighton Jones LLC now owns 23,580 shares of the business services provider's stock valued at $801,000 after acquiring an additional 2,685 shares during the period. Trust Point Inc. acquired a new position in Robert Half in the third quarter valued at approximately $266,000. Voya Investment Management LLC lifted its holdings in Robert Half by 110.8% in the third quarter. Voya Investment Management LLC now owns 35,656 shares of the business services provider's stock valued at $1,212,000 after acquiring an additional 18,745 shares during the period. Assenagon Asset Management S.A. acquired a new position in Robert Half in the third quarter valued at approximately $282,000. Finally, Oak Thistle LLC lifted its holdings in Robert Half by 119.2% in the third quarter. Oak Thistle LLC now owns 21,399 shares of the business services provider's stock valued at $727,000 after acquiring an additional 11,635 shares during the period. 92.41% of the stock is owned by institutional investors and hedge funds.

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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