Robert Half (NYSE:RHI) Updates Q2 2024 Earnings Guidance

Robert Half (NYSE:RHI) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 0.630-0.770 for the period, compared to the consensus earnings per share estimate of 0.800. The company issued revenue guidance of $1.5 billion-$1.6 billion, compared to the consensus revenue estimate of $1.5 billion.

Robert Half Price Performance

Shares of NYSE:RHI opened at $69.35 on Friday. The company has a market cap of $7.29 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 17.55 and a beta of 1.26. The firm has a 50 day simple moving average of $76.99 and a 200 day simple moving average of $79.41. Robert Half has a one year low of $64.65 and a one year high of $88.39.

Robert Half (NYSE:RHI) last issued its quarterly earnings data on Thursday, April 25th. The business services provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.60 by $0.01. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. Robert Half had a net margin of 5.74% and a return on equity of 22.08%. The firm’s revenue was down 14.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.14 EPS. As a group, analysts expect that Robert Half will post 3.35 EPS for the current year.

Robert Half Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 23rd were paid a $0.53 dividend. This is an increase from Robert Half’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.12 annualized dividend and a yield of 3.06%. Robert Half’s dividend payout ratio is presently 63.47%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on RHI shares. BMO Capital Markets dropped their price target on shares of Robert Half from $85.00 to $80.00 and set a market perform rating for the company in a research note on Wednesday, January 31st. Robert W. Baird dropped their price target on shares of Robert Half from $84.00 to $79.00 and set an outperform rating for the company in a research note on Friday. Finally, Truist Financial raised shares of Robert Half from a sell rating to a hold rating and set a $72.00 price target for the company in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $68.14.

Insider Buying and Selling

In related news, EVP Robert W. Glass sold 7,500 shares of Robert Half stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $80.46, for a total transaction of $603,450.00. Following the completion of the transaction, the executive vice president now owns 186,062 shares of the company’s stock, valued at $14,970,548.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.00% of the stock is owned by insiders.

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.