Robert Half (NYSE:RHI) Hits New 1-Year Low - Here's Why

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RHI. 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 report on Friday, December 13th. Barclays raised 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 note on Friday, January 3rd. StockNews.com upgraded shares of Robert Half from a "hold" rating to a "buy" rating in a report on Monday. JPMorgan Chase & Co. reduced their target price on shares of Robert Half from $69.00 to $65.00 and set a "neutral" rating on the stock in a report on Thursday, January 30th. Finally, 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. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $74.92.

Robert Half Trading Down 2.1 %

The business's 50-day simple moving average is $56.34 and its two-hundred day simple moving average is $65.65. The firm has a market cap of $4.74 billion, a price-to-earnings ratio of 18.99 and a beta of 1.13.

Robert Half (NYSE:RHI - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The business services provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.01). Robert Half had a return on equity of 17.20% and a net margin of 4.34%. On average, analysts forecast that Robert Half Inc. will post 2.48 earnings per share for the current fiscal year.

Robert Half Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, February 25th were paid a dividend of $0.59 per share. The ex-dividend date was Tuesday, February 25th. This represents a $2.36 annualized dividend and a yield of 5.09%. This is a boost from Robert Half's previous quarterly dividend of $0.53. Robert Half's dividend payout ratio (DPR) is currently 96.72%.

Hedge Funds Weigh In On Robert Half

Institutional investors and hedge funds have recently modified their holdings of the business. Fifth Third Wealth Advisors LLC boosted its position in shares of Robert Half by 124.5% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 7,533 shares of the business services provider's stock worth $411,000 after purchasing an additional 4,178 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Robert Half by 72.9% during the first quarter. Parallel Advisors LLC now owns 1,546 shares of the business services provider's stock worth $84,000 after purchasing an additional 652 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Robert Half by 10,422.5% in the 1st quarter. GAMMA Investing LLC now owns 114,064 shares of the business services provider's stock worth $6,222,000 after purchasing an additional 112,980 shares in the last quarter. First Hawaiian Bank grew its position in Robert Half by 13.1% in the 1st quarter. First Hawaiian Bank now owns 5,650 shares of the business services provider's stock valued at $308,000 after purchasing an additional 654 shares during the period. Finally, Greenhaven Associates Inc. acquired a new stake in Robert Half in the 1st quarter valued at $207,000. 92.41% of the stock is currently owned by institutional investors.

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.