Robert Half (NYSE:RHI) Shares Gap Up - Still a Buy?

Key Points

• Robert Half shares gapped up at the open, moving from a prior close of $36.70 to an opening price of $38.77 and trading around $40.25 during the session.
• Analyst sentiment remains cautious despite some upgrades, with a consensus rating of “Reduce” and an average price target of $31.62, below the current share price.
• The company reported flat quarterly earnings versus estimates at $0.14 per share, while revenue came in below expectations and fell 3.8% year over year; Robert Half also pays a quarterly dividend yielding about 5.8% annualized.

Robert Half Inc. (NYSE:RHI - Get Free Report) shares gapped up before the market opened on Thursday . The stock had previously closed at $36.70, but opened at $38.77. Robert Half shares last traded at $40.2510, with a volume of 453,683 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RHI. Zacks Research raised shares of Robert Half from a "strong sell" rating to a "hold" rating in a report on Tuesday. William Blair raised shares of Robert Half from a "market perform" rating to an "outperform" rating in a report on Tuesday, April 21st. Weiss Ratings upgraded shares of Robert Half from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, June 17th. Finally, The Goldman Sachs Group lifted their price target on Robert Half from $23.00 to $26.00 and gave the company a "sell" rating in a report on Tuesday. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, Robert Half presently has an average rating of "Reduce" and a consensus target price of $31.62.

Robert Half Price Performance

The firm has a market capitalization of $4.15 billion, a P/E ratio of 31.09 and a beta of 0.82. The firm's fifty day moving average price is $30.25 and its 200-day moving average price is $27.78.

Robert Half (NYSE:RHI - Get Free Report) last released its earnings results on Thursday, April 23rd. The business services provider reported $0.14 earnings per share for the quarter, hitting analysts' consensus estimates of $0.14. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.34 billion. Robert Half had a return on equity of 10.14% and a net margin of 2.43%.The firm's revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.17 earnings per share. Analysts expect that Robert Half Inc. will post 1.29 earnings per share for the current year.

Robert Half Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 22nd were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $2.36 annualized dividend and a yield of 5.8%. Robert Half's dividend payout ratio (DPR) is currently 181.54%.

Institutional Investors Weigh In On Robert Half

Hedge funds and other institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Robert Half during the 2nd quarter valued at about $34,000. Gilpin Wealth Management LLC acquired a new position in shares of Robert Half in the fourth quarter worth about $27,000. Larson Financial Group LLC boosted its stake in Robert Half by 321.0% in the 4th quarter. Larson Financial Group LLC now owns 1,002 shares of the business services provider's stock worth $27,000 after purchasing an additional 764 shares during the period. Danske Bank A S purchased a new stake in Robert Half in the 3rd quarter worth about $37,000. Finally, Elevation Wealth Partners LLC increased its holdings in shares of Robert Half by 605.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 1,136 shares of the business services provider's stock valued at $35,000 after purchasing an additional 975 shares during the period. 92.41% of the stock is currently owned by institutional investors.

Robert Half Company Profile

Robert Half International Inc, founded in 1948 by Robert Half, is a global professional staffing and consulting firm headquartered in Menlo Park, California. As a pioneer in specialized staffing, the company has built a reputation for matching skilled professionals with leading organizations across a range of industries. Robert Half's shares trade on the New York Stock Exchange under the ticker RHI, reflecting its position as one of the longest‐standing and best‐known firms in the staffing sector.

The company offers a comprehensive suite of services, including temporary staffing, permanent placement, and consulting solutions.

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