Robert Half (NYSE:RHI) Shares Up 7.8% - Here's What Happened

Key Points

• Robert Half shares rose 7.8% to $38.04 in mid-day trading, although volume was 95% below the average daily level.
• Analyst sentiment remains mixed: BMO Capital Markets and William Blair upgraded the stock to “outperform,” while Goldman Sachs maintained a “sell” rating. The consensus rating is “Reduce,” with a $34.75 price target.
• The company’s latest quarterly results matched EPS expectations at $0.26 and exceeded revenue estimates with $1.34 billion, but revenue declined 2.4% year over year. Robert Half also pays a $0.59 quarterly dividend, representing a 6.0% yield.

Robert Half Inc. (NYSE:RHI - Get Free Report) shares traded up 7.8% during mid-day trading on Monday . The stock traded as high as $38.04 and last traded at $38.04. 142,029 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 2,865,537 shares. The stock had previously closed at $35.29.

Analyst Ratings Changes

RHI has been the topic of several research analyst reports. Robert W. Baird set a $47.00 target price on shares of Robert Half in a report on Monday. BMO Capital Markets raised shares of Robert Half from a "market perform" rating to an "outperform" rating and set a $47.00 price objective for the company in a research report on Monday. The Goldman Sachs Group raised their price objective on shares of Robert Half from $26.00 to $29.00 and gave the stock a "sell" rating in a report on Friday. William Blair raised shares of Robert Half from a "market perform" rating to an "outperform" rating in a research report on Tuesday, April 21st. Finally, Weiss Ratings raised shares of Robert Half from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday, June 17th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Robert Half has a consensus rating of "Reduce" and a consensus target price of $34.75.

Robert Half Stock Performance

The firm has a market cap of $4.00 billion, a price-to-earnings ratio of 34.04 and a beta of 0.82. The stock has a 50-day moving average of $32.22 and a 200-day moving average of $28.41.

Robert Half (NYSE:RHI - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The business services provider reported $0.26 earnings per share for the quarter, hitting analysts' consensus estimates of $0.26. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. Robert Half had a return on equity of 9.18% and a net margin of 2.17%.The business's revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.41 EPS. Sell-side analysts predict that Robert Half Inc. will post 1.29 EPS for the current fiscal year.

Robert Half Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 22nd were issued a dividend of $0.59 per share. The ex-dividend date was Friday, May 22nd. This represents a $2.36 annualized dividend and a yield of 6.0%. Robert Half's dividend payout ratio is presently 205.22%.

Institutional Investors Weigh In On Robert Half

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Elevation Wealth Partners LLC boosted its stake in shares of Robert Half by 605.6% during the 2nd quarter. Elevation Wealth Partners LLC now owns 1,136 shares of the business services provider's stock worth $35,000 after buying an additional 975 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Robert Half during the second quarter worth about $7,727,000. GAMMA Investing LLC raised its holdings in Robert Half by 95.1% during the second quarter. GAMMA Investing LLC now owns 7,255 shares of the business services provider's stock worth $223,000 after acquiring an additional 3,536 shares in the last quarter. Versant Capital Management Inc boosted its position in Robert Half by 45.5% during the second quarter. Versant Capital Management Inc now owns 14,816 shares of the business services provider's stock valued at $455,000 after purchasing an additional 4,630 shares during the last quarter. Finally, Basecamp Wealth Advisors LLC grew its stake in Robert Half by 19.4% in the first quarter. Basecamp Wealth Advisors LLC now owns 2,164 shares of the business services provider's stock valued at $55,000 after purchasing an additional 351 shares in the last quarter. 92.41% of the stock is currently owned by institutional investors and hedge funds.

About Robert Half

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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