JPMorgan Chase & Co. Cuts Robert Half (NYSE:RHI) Price Target to $45.00

Robert Half (NYSE:RHI) had its price target reduced by JPMorgan Chase & Co. from $47.00 to $45.00 in a research note released on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the business services provider’s stock.

Several other analysts have also commented on the stock. Barclays cut their target price on shares of Robert Half from $50.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Truist Financial set a $55.00 price target on Robert Half and gave the company a “buy” rating in a report on Thursday, April 24th. The Goldman Sachs Group reduced their price objective on Robert Half from $46.00 to $40.00 and set a “sell” rating for the company in a research note on Thursday, April 24th. BNP Paribas Exane lowered Robert Half from an “outperform” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research note on Friday, May 2nd. Finally, Wall Street Zen raised Robert Half from a “sell” rating to a “hold” rating in a research report on Friday, June 6th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $45.83.

Robert Half Stock Down 0.1%

Shares of Robert Half stock opened at $39.80 on Thursday. The business has a fifty day simple moving average of $43.09 and a 200-day simple moving average of $51.13. Robert Half has a fifty-two week low of $38.90 and a fifty-two week high of $78.41. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of 22.74 and a beta of 1.00.

Robert Half (NYSE:RHI) last issued its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.40 by $0.01. Robert Half had a net margin of 3.20% and a return on equity of 13.00%. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the previous year, the business earned $0.66 earnings per share. Robert Half’s revenue for the quarter was down 7.0% compared to the same quarter last year. Analysts anticipate that Robert Half will post 2.48 earnings per share for the current fiscal year.

Robert Half Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 23rd were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 5.93%. The ex-dividend date of this dividend was Friday, May 23rd. Robert Half’s payout ratio is 134.86%.

Institutional Trading of Robert Half

Hedge funds have recently modified their holdings of the business. Quadrant Capital Group LLC raised its position in Robert Half by 11.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,155 shares of the business services provider’s stock valued at $152,000 after buying an additional 218 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in shares of Robert Half by 39.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 780 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 220 shares during the period. Manchester Capital Management LLC increased its holdings in shares of Robert Half by 45.0% in the 1st quarter. Manchester Capital Management LLC now owns 825 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 256 shares during the period. Strengthening Families & Communities LLC lifted its position in shares of Robert Half by 11.9% in the second quarter. Strengthening Families & Communities LLC now owns 2,479 shares of the business services provider’s stock worth $102,000 after purchasing an additional 263 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its holdings in shares of Robert Half by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 44,483 shares of the business services provider’s stock worth $3,134,000 after purchasing an additional 280 shares during the period. Hedge funds and other institutional investors own 92.41% of the company’s stock.

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.