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

Robert Half Inc. (NYSE:RHI - Get Free Report) rose 3.7% on Wednesday after the company announced better than expected quarterly earnings. The company 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 the consensus estimate of $0.62 by $0.02. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.44 billion. Robert Half had a net margin of 5.26% and a return on equity of 20.41%. The firm's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the business earned $0.90 EPS.

Robert Half Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 23rd were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date was Friday, August 23rd. Robert Half's dividend payout ratio is presently 63.47%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RHI. JPMorgan Chase & Co. dropped their price target on Robert Half from $70.00 to $69.00 and set a "neutral" rating on the stock in a research report on Wednesday. Barclays reduced their price target on shares of Robert Half from $70.00 to $60.00 and set an "underweight" rating on the stock in a research report on Friday, July 26th. StockNews.com downgraded shares of Robert Half from a "buy" rating to a "hold" rating in a research report on Friday, July 5th. BMO Capital Markets cut their target price on shares of Robert Half from $72.00 to $64.00 and set a "market perform" rating on the stock in a report on Thursday, July 25th. Finally, Truist Financial decreased their target price on Robert Half from $72.00 to $62.00 and set a "hold" rating for the company in a research note on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $67.71.

Insider Buying and Selling at Robert Half

In other news, Director Dirk A. Kempthorne sold 1,300 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 13,342 shares in the company, valued at approximately $841,746.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Robert Half

Several institutional investors have recently bought and sold shares of RHI. PNC Financial Services Group Inc. lifted its stake in shares of Robert Half by 7.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,989 shares of the business services provider's stock worth $790,000 after acquiring an additional 654 shares during the period. Cardinal Capital Management boosted its stake in Robert Half by 17.2% during the 1st quarter. Cardinal Capital Management now owns 32,552 shares of the business services provider's stock valued at $2,581,000 after purchasing an additional 4,787 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Robert Half by 5.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 60,677 shares of the business services provider's stock valued at $4,810,000 after purchasing an additional 3,211 shares during the period. Grimes & Company Inc. raised its stake in shares of Robert Half by 4.0% in the 1st quarter. Grimes & Company Inc. now owns 225,508 shares of the business services provider's stock worth $17,878,000 after buying an additional 8,700 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Robert Half by 60.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 16,471 shares of the business services provider's stock valued at $1,306,000 after buying an additional 6,187 shares during the period. Institutional investors and hedge funds own 92.41% of the company's stock.

Robert Half Price Performance

The company has a fifty day moving average price of $64.71 and a two-hundred day moving average price of $65.65. The firm has a market cap of $7.09 billion, a price-to-earnings ratio of 20.23 and a beta of 1.23.

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.