Robert Half Inc. to Post Q2 2024 Earnings of $0.79 Per Share, Zacks Research Forecasts (NYSE:RHI)

Robert Half Inc. (NYSE:RHI) – Equities research analysts at Zacks Research upped their Q2 2024 earnings per share estimates for Robert Half in a report released on Wednesday, April 24th. Zacks Research analyst R. Department now anticipates that the business services provider will post earnings per share of $0.79 for the quarter, up from their prior estimate of $0.78. The consensus estimate for Robert Half’s current full-year earnings is $3.34 per share. Zacks Research also issued estimates for Robert Half’s Q3 2024 earnings at $0.88 EPS, FY2024 earnings at $3.33 EPS, Q1 2025 earnings at $0.83 EPS, Q4 2025 earnings at $0.91 EPS and FY2026 earnings at $3.93 EPS.

A number of other equities analysts have also commented on the stock. BMO Capital Markets cut their price target on shares of Robert Half from $85.00 to $80.00 and set a “market perform” rating on the stock in a report on Wednesday, January 31st. Robert W. Baird lowered their target price on Robert Half from $84.00 to $79.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Truist Financial upgraded Robert Half from a “sell” rating to a “hold” rating and set a $72.00 price target on the stock in a research report on Monday, April 22nd. One investment analyst has 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, Robert Half presently has an average rating of “Hold” and an average price target of $68.14.

Robert Half Price Performance

RHI stock opened at $69.35 on Friday. Robert Half has a 1 year low of $64.65 and a 1 year high of $88.39. The stock has a market cap of $7.29 billion, a price-to-earnings ratio of 17.92, a P/E/G ratio of 17.82 and a beta of 1.26. The company has a 50 day simple moving average of $77.22 and a 200 day simple moving average of $79.44.

Robert Half (NYSE:RHI) last posted its quarterly earnings results on Thursday, April 25th. The business services provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Robert Half had a return on equity of 25.73% and a net margin of 6.43%. Robert Half’s revenue was down 14.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.14 EPS.

Robert Half Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, February 23rd were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend was Thursday, February 22nd. This is a boost from Robert Half’s previous quarterly dividend of $0.48. Robert Half’s dividend payout ratio is 54.78%.

Insider Activity

In related news, EVP Robert W. Glass sold 7,500 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $80.46, for a total value of $603,450.00. Following the sale, the executive vice president now owns 186,062 shares in the company, valued at approximately $14,970,548.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.00% of the company’s stock.

Institutional Trading of Robert Half

Several institutional investors and hedge funds have recently made changes to their positions in the company. Pinnacle Associates Ltd. increased its position in shares of Robert Half by 5.0% during the 1st quarter. Pinnacle Associates Ltd. now owns 194,249 shares of the business services provider’s stock valued at $15,400,000 after purchasing an additional 9,209 shares during the last quarter. WCM Investment Management LLC lifted its stake in Robert Half by 7.5% in the first quarter. WCM Investment Management LLC now owns 2,557 shares of the business services provider’s stock valued at $203,000 after purchasing an additional 178 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Robert Half by 10.5% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 83,467 shares of the business services provider’s stock valued at $6,617,000 after purchasing an additional 7,900 shares during the period. Family Legacy Inc. raised its stake in Robert Half by 2.0% in the 1st quarter. Family Legacy Inc. now owns 7,177 shares of the business services provider’s stock valued at $569,000 after acquiring an additional 144 shares during the period. Finally, Silver Lake Advisory LLC lifted its stake in shares of Robert Half by 7.7% during the 1st quarter. Silver Lake Advisory LLC now owns 54,377 shares of the business services provider’s stock valued at $4,311,000 after buying an additional 3,898 shares in the last quarter. Hedge funds and other institutional investors own 92.41% of the company’s stock.

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.