Robert Half (NYSE:RHI) Trading Up 3.7% on Earnings Beat

Shares of Robert Half Inc. (NYSE:RHI) were up 3.7% on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $68.38 and last traded at $68.11. Approximately 370,903 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 1,412,742 shares. The stock had previously closed at $65.70.

The business services provider reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.44 billion. Robert Half had a return on equity of 20.41% and a net margin of 5.26%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.90 EPS.

Robert Half Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 23rd were given a dividend of $0.53 per share. The ex-dividend date was Friday, August 23rd. This represents a $2.12 annualized dividend and a dividend yield of 3.09%. Robert Half’s dividend payout ratio (DPR) is presently 63.47%.

Analyst Ratings Changes

RHI has been the subject of a number of recent research reports. BMO Capital Markets lowered their target price on Robert Half from $72.00 to $64.00 and set a “market perform” rating for the company in a research note on Thursday, July 25th. Barclays decreased their target price on shares of Robert Half from $70.00 to $60.00 and set an “underweight” rating on the stock in a research note on Friday, July 26th. Truist Financial cut their price target on shares of Robert Half from $72.00 to $62.00 and set a “hold” rating on the stock in a report on Friday, July 26th. StockNews.com cut shares of Robert Half from a “buy” rating to a “hold” rating in a research report on Friday, July 5th. Finally, JPMorgan Chase & Co. reduced their price target on Robert Half from $74.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, July 25th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $67.86.

Insiders Place Their Bets

In other Robert Half news, Director Dirk A. Kempthorne sold 1,300 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $63.09, for a total transaction of $82,017.00. Following the sale, the director now directly owns 13,342 shares in the company, valued at approximately $841,746.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Robert Half

Institutional investors and hedge funds have recently modified their holdings of the company. Qsemble Capital Management LP bought a new position in Robert Half in the first quarter worth approximately $1,454,000. UniSuper Management Pty Ltd grew its holdings in Robert Half by 671.3% during the first quarter. UniSuper Management Pty Ltd now owns 12,341 shares of the business services provider’s stock valued at $978,000 after purchasing an additional 10,741 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Robert Half by 10.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 122,356 shares of the business services provider’s stock worth $9,700,000 after buying an additional 11,124 shares in the last quarter. iA Global Asset Management Inc. raised its stake in shares of Robert Half by 167.3% in the first quarter. iA Global Asset Management Inc. now owns 21,414 shares of the business services provider’s stock worth $1,698,000 after buying an additional 13,404 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in shares of Robert Half by 40.5% during the 1st quarter. BNP Paribas Financial Markets now owns 108,570 shares of the business services provider’s stock valued at $8,607,000 after buying an additional 31,300 shares in the last quarter. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Robert Half Trading Up 4.3 %

The company has a market capitalization of $7.19 billion, a P/E ratio of 18.86 and a beta of 1.23. The stock has a 50 day moving average of $64.56 and a 200-day moving average of $65.64.

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.