Robert Half (NYSE:RHI) Sets New 12-Month Low - What's Next?

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%.

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

Wall Street Analyst Weigh In

A number of research firms have commented on RHI. Barclays dropped their price objective on shares of Robert Half from $50.00 to $45.00 and set an "equal weight" rating on the stock in a research note 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. JPMorgan Chase & Co. decreased their price objective on Robert Half from $47.00 to $45.00 and set a "neutral" rating on the stock in a report on Thursday, July 24th. BNP Paribas Exane downgraded Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 price objective for the company. in a report on Friday, May 2nd. 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 equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $45.83.

Robert Half Stock Performance

The stock's fifty day moving average is $41.07 and its two-hundred day moving average is $48.67. The firm has a market capitalization of $3.42 billion, a price-to-earnings ratio of 19.21 and a beta of 1.02.

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

Robert Half Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, August 25th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date is Monday, August 25th. Robert Half's dividend payout ratio (DPR) is presently 134.86%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Robert Half by 5.9% during the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 62,018 shares of the business services provider's stock worth $2,546,000 after acquiring an additional 3,449 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Robert Half by 7.2% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,778 shares of the business services provider's stock worth $1,058,000 after purchasing an additional 1,742 shares in the last quarter. Capital Investment Counsel Inc increased its stake in Robert Half by 36.0% in the 2nd quarter. Capital Investment Counsel Inc now owns 5,095 shares of the business services provider's stock worth $209,000 after purchasing an additional 1,350 shares in the last quarter. Police & Firemen s Retirement System of New Jersey increased its stake in Robert Half by 5.4% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 38,261 shares of the business services provider's stock worth $1,571,000 after purchasing an additional 1,955 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Robert Half by 18.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,663 shares of the business services provider's stock worth $356,000 after purchasing an additional 1,376 shares in the last quarter. Institutional investors own 92.41% of the company's stock.

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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