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

Key Points

• Robert Half Inc. (NYSE:RHI) has recently hit a new 12-month low, trading at $33.41, significantly lower than its previous close of $34.20.
• Analysts have responded with mixed ratings, lowering their price targets, with Barclays setting a new target of $45.00 and Goldman Sachs assigning a sell rating.
• The company announced a quarterly dividend of $0.59, representing a 7.0% yield, with a high dividend payout ratio of 134.86%.

Shares of Robert Half Inc. (NYSE:RHI - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $33.43 and last traded at $33.41, with a volume of 287437 shares traded. The stock had previously closed at $34.20.

Analysts Set New Price Targets

RHI has been the subject of several research analyst reports. The Goldman Sachs Group cut 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. BNP Paribas cut Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 target price for the company. in a research report on Friday, May 2nd. Barclays cut their price objective 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. Truist Financial set a $55.00 price objective on shares of Robert Half and gave the company a "buy" rating in a research report on Thursday, April 24th. Finally, Wall Street Zen raised Robert Half from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $45.83.

Robert Half Trading Up 0.2%

The firm has a market cap of $3.70 billion, a P/E ratio of 20.76 and a beta of 1.02. The business has a 50-day moving average price of $40.18 and a 200-day moving average price of $47.77.

Robert Half (NYSE:RHI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.01. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.35 billion. Robert Half had a return on equity of 13.00% and a net margin of 3.20%. The firm's revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 earnings per share. On average, equities analysts anticipate that Robert Half Inc. will post 2.48 earnings per share for the current fiscal year.

Robert Half Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, August 25th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 6.5%. The ex-dividend date is Monday, August 25th. Robert Half's dividend payout ratio (DPR) is presently 134.86%.

Institutional Investors Weigh In On Robert Half

Large investors have recently bought and sold shares of the company. Wells Fargo & Company MN boosted its position in Robert Half by 3.9% in the 4th quarter. Wells Fargo & Company MN now owns 69,110 shares of the business services provider's stock worth $4,869,000 after purchasing an additional 2,615 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Robert Half by 32.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 146,717 shares of the business services provider's stock valued at $10,338,000 after purchasing an additional 35,729 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Robert Half by 30.2% during the 4th quarter. Invesco Ltd. now owns 515,031 shares of the business services provider's stock worth $36,289,000 after acquiring an additional 119,443 shares during the period. Raymond James Financial Inc. acquired a new position in Robert Half in the 4th quarter valued at about $15,491,000. Finally, Treasurer of the State of North Carolina grew its position in Robert Half by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 44,483 shares of the business services provider's stock worth $3,134,000 after acquiring an additional 280 shares during the period. Hedge funds and other institutional investors own 92.41% of the company's stock.

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.