Robert Half (NYSE:RHI) Hits New 52-Week Low – What’s Next?

Robert Half Inc. (NYSE:RHI) shares hit a new 52-week low on Wednesday . The company traded as low as $53.21 and last traded at $53.07, with a volume of 56695 shares changing hands. The stock had previously closed at $54.15.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on RHI shares. JPMorgan Chase & Co. dropped their price target on Robert Half from $69.00 to $65.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. StockNews.com upgraded shares of Robert Half from a “hold” rating to a “buy” rating in a report on Thursday, February 27th. Truist Financial upgraded shares of Robert Half from a “hold” rating to a “buy” rating and lifted their price objective for the company from $62.00 to $90.00 in a research note on Friday, December 13th. Barclays upgraded shares of Robert Half from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $60.00 to $80.00 in a research note on Friday, January 3rd. Finally, 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 report on Monday, February 10th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $74.92.

Robert Half Trading Down 2.6 %

The firm has a market cap of $5.39 billion, a price-to-earnings ratio of 21.59 and a beta of 1.22. The stock’s fifty day moving average price is $63.48 and its 200-day moving average price is $67.23.

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 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%. Analysts predict that Robert Half Inc. will post 2.48 earnings per share for the current year.

Robert Half Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, February 25th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date of this dividend is Tuesday, February 25th. This is a positive change from Robert Half’s previous quarterly dividend of $0.53. Robert Half’s payout ratio is currently 96.72%.

Institutional Investors Weigh In On Robert Half

A number of hedge funds and other institutional investors have recently bought and sold shares of RHI. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Robert Half by 613.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the business services provider’s stock worth $25,000 after buying an additional 313 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Robert Half during the 4th quarter worth approximately $26,000. Private Trust Co. NA lifted its position in shares of Robert Half by 79.7% in the third quarter. Private Trust Co. NA now owns 433 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 192 shares in the last quarter. Signaturefd LLC raised its stake in Robert Half by 121.3% in the 4th quarter. Signaturefd LLC now owns 436 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 239 shares during the last quarter. Finally, Eastern Bank purchased a new position in Robert Half in the 4th quarter valued at about $35,000. Institutional investors and hedge funds 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.