Robert Half Inc. (NYSE:RHI) Raises Dividend to $0.59 Per Share

Robert Half Inc. (NYSE:RHI) announced a quarterly dividend on Wednesday, February 12th,RTT News reports. Stockholders of record on Tuesday, February 25th will be paid a dividend of 0.59 per share by the business services provider on Friday, March 14th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.08%. This is a positive change from Robert Half’s previous quarterly dividend of $0.53.

Robert Half has increased its dividend by an average of 11.7% per year over the last three years and has raised its dividend annually for the last 21 consecutive years. Robert Half has a payout ratio of 58.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Robert Half to earn $3.63 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 58.4%.

Robert Half Stock Performance

Robert Half stock opened at $57.91 on Thursday. The stock has a 50-day simple moving average of $69.16 and a 200 day simple moving average of $67.71. The stock has a market capitalization of $5.98 billion, a P/E ratio of 23.73 and a beta of 1.23. Robert Half has a 52 week low of $57.05 and a 52 week high of $83.25.

Robert Half (NYSE:RHI) last released its quarterly earnings data on Wednesday, January 29th. The business services provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.01). Robert Half had a net margin of 4.34% and a return on equity of 17.20%. Research analysts forecast that Robert Half will post 2.53 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on RHI shares. Barclays upgraded shares of Robert Half from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $60.00 to $80.00 in a report on Friday, January 3rd. JPMorgan Chase & Co. decreased their price target on shares of Robert Half from $69.00 to $65.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. BNP Paribas raised shares of Robert Half from an “underperform” rating to an “outperform” rating and set a $71.50 price objective for the company in a report on Monday. Finally, Truist Financial raised shares of Robert Half from a “hold” rating to a “buy” rating and raised their target price for the stock from $62.00 to $90.00 in a report on Friday, December 13th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $74.92.

Insider Activity

In other news, Director Dirk A. Kempthorne sold 1,032 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $74.35, for a total transaction of $76,729.20. Following the completion of the transaction, the director now owns 12,310 shares of the company’s stock, valued at approximately $915,248.50. The trade was a 7.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.00% 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.