Robert Half Inc. (NYSE:RHI) Raises Dividend to $0.59 Per Share

Robert Half Inc. (NYSE:RHI - Get Free Report) declared a quarterly dividend on Wednesday, February 12th,RTT News reports. Investors of record on Tuesday, February 25th will be paid a dividend of 0.59 per share by the business services provider on Friday, March 14th. This represents a $2.36 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend is Tuesday, February 25th. This is a boost from Robert Half's previous quarterly dividend of $0.53.

Robert Half has raised its dividend by an average of 11.7% per year over the last three years and has increased its dividend annually for the last 21 consecutive years. Robert Half has a payout ratio of 64.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Robert Half to earn $3.63 per share next year, which means the company should continue to be able to cover its $2.36 annual dividend with an expected future payout ratio of 65.0%.

Robert Half Price Performance

RHI traded up $1.76 during midday trading on Friday, hitting $60.12. 1,620,587 shares of the company's stock traded hands, compared to its average volume of 1,308,436. The company has a market cap of $6.21 billion, a PE ratio of 24.64 and a beta of 1.23. The stock's fifty day simple moving average is $68.56 and its 200-day simple moving average is $67.67. Robert Half has a one year low of $57.05 and a one year high of $83.25.

Robert Half (NYSE:RHI - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $0.53 EPS for the quarter, missing analysts' consensus estimates of $0.54 by ($0.01). Robert Half had a net margin of 4.34% and a return on equity of 17.20%. On average, research analysts expect that Robert Half will post 2.53 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on RHI. Barclays raised shares of Robert Half from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $60.00 to $80.00 in a research report on Friday, January 3rd. JPMorgan Chase & Co. dropped their price target on shares of Robert Half from $69.00 to $65.00 and set a "neutral" rating on the stock in a research report on Thursday, January 30th. BNP Paribas raised shares of Robert Half from an "underperform" rating to an "outperform" rating and set a $71.50 price target on the stock in a research report on Monday, February 10th. Finally, Truist Financial raised shares of Robert Half from a "hold" rating to a "buy" rating and lifted their price target for the company from $62.00 to $90.00 in a research report on Friday, December 13th. Four 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.com, Robert Half currently has an average rating of "Hold" and an average target price of $74.92.

Insider Transactions at Robert Half

In other Robert Half news, Director Dirk A. Kempthorne sold 1,032 shares of Robert Half stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $74.35, for a total transaction of $76,729.20. Following the sale, the director now owns 12,310 shares in the company, valued at $915,248.50. The trade was a 7.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.00% of the stock is currently owned by corporate 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.