Robert Half (NYSE:RHI) Hits New 12-Month Low – Here’s What Happened

Robert Half Inc. (NYSE:RHI)’s stock price hit a new 52-week low during trading on Thursday . The company traded as low as $51.18 and last traded at $51.23, with a volume of 165910 shares traded. The stock had previously closed at $54.71.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Barclays raised shares of Robert Half from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $60.00 to $80.00 in a report on Friday, January 3rd. JPMorgan Chase & Co. lowered their target price on Robert Half from $69.00 to $65.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. StockNews.com lowered shares of Robert Half from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Truist Financial raised Robert Half from a “hold” rating to a “buy” rating and lifted their target price for the company from $62.00 to $90.00 in a research report on Friday, December 13th. Finally, BNP Paribas raised shares of Robert Half from an “underperform” rating to an “outperform” rating and set a $71.50 target price for the company in a research report on Monday, February 10th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $74.92.

Robert Half Trading Down 6.7 %

The company has a 50 day moving average price of $58.55 and a 200 day moving average price of $66.24. The company has a market capitalization of $5.22 billion, a P/E ratio of 20.93 and a beta of 1.22.

Robert Half (NYSE:RHI) last announced its earnings results on Wednesday, January 29th. The business services provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.01). Robert Half had a return on equity of 17.20% and a net margin of 4.34%. As a group, sell-side analysts forecast that Robert Half Inc. will post 2.48 EPS for the current fiscal year.

Robert Half Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, February 25th were paid a $0.59 dividend. This is a boost from Robert Half’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.36 annualized dividend and a yield of 4.62%. Robert Half’s payout ratio is 96.72%.

Institutional Investors Weigh In On Robert Half

Several institutional investors have recently made changes to their positions in the stock. First Hawaiian Bank raised its position in shares of 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 buying an additional 654 shares in the last quarter. Greenhaven Associates Inc. bought a new stake in Robert Half during the 1st quarter worth $207,000. Wellington Management Group LLP grew its holdings in shares of Robert Half by 293.3% during the fourth quarter. Wellington Management Group LLP now owns 831,359 shares of the business services provider’s stock worth $58,578,000 after purchasing an additional 619,982 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Robert Half by 11.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 73,130 shares of the business services provider’s stock worth $5,153,000 after acquiring an additional 7,516 shares during the last quarter. Finally, Siemens Fonds Invest GmbH increased its holdings in Robert Half by 29.8% in the fourth quarter. Siemens Fonds Invest GmbH now owns 30,659 shares of the business services provider’s stock valued at $2,157,000 after purchasing an additional 7,039 shares during the period. 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.