Robert Half (NYSE:RHI) Sets New 12-Month Low – Here’s What Happened

Robert Half Inc. (NYSE:RHI) reached a new 52-week low during trading on Thursday . The company traded as low as $51.18 and last traded at $51.23, with a volume of 165910 shares. The stock had previously closed at $54.71.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RHI. BNP Paribas upgraded shares of Robert Half from an “underperform” rating to an “outperform” rating and set a $71.50 price target for the company in a research report on Monday, February 10th. Truist Financial raised shares of Robert Half from a “hold” rating to a “buy” rating and increased their target price for the company from $62.00 to $90.00 in a research report on Friday, December 13th. StockNews.com cut shares of Robert Half from a “buy” rating to a “hold” rating in a report on Friday, March 21st. JPMorgan Chase & Co. reduced their price objective on Robert Half from $69.00 to $65.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Finally, Barclays upgraded Robert Half from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $60.00 to $80.00 in a research note on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $74.92.

Robert Half Trading Down 5.1 %

The business’s fifty day simple moving average is $57.73 and its 200-day simple moving average is $66.03. The firm has a market cap of $4.94 billion, a P/E ratio of 19.81 and a beta of 1.22.

Robert Half (NYSE:RHI) last issued its quarterly earnings data on Wednesday, January 29th. The business services provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.01). Robert Half had a return on equity of 17.20% and a net margin of 4.34%. As a group, research analysts expect that Robert Half Inc. will post 2.48 earnings per share for the current fiscal year.

Robert Half Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, February 25th were given a dividend of $0.59 per share. This is a positive change from Robert Half’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date of this dividend was Tuesday, February 25th. Robert Half’s payout ratio is 96.72%.

Hedge Funds Weigh In On Robert Half

A number of institutional investors have recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Robert Half by 613.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the business services provider’s stock worth $25,000 after purchasing an additional 313 shares during the last quarter. Headlands Technologies LLC purchased a new position in Robert Half in the 4th quarter worth approximately $26,000. Signaturefd LLC grew its stake in Robert Half by 121.3% in the 4th quarter. Signaturefd LLC now owns 436 shares of the business services provider’s stock worth $31,000 after buying an additional 239 shares in the last quarter. Eastern Bank bought a new position in shares of Robert Half in the 4th quarter worth $35,000. Finally, GeoWealth Management LLC purchased a new stake in shares of Robert Half during the 4th quarter valued at $35,000. 92.41% of the stock is currently owned by institutional investors.

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.