Robert Half Inc. (NYSE:RHI) Expected to Earn Q2 2024 Earnings of $0.79 Per Share

Robert Half Inc. (NYSE:RHI) – Equities research analysts at Zacks Research upped their Q2 2024 earnings per share estimates for shares of Robert Half in a research report issued to clients and investors on Wednesday, April 24th. Zacks Research analyst R. Department now anticipates that the business services provider will post earnings of $0.79 per share for the quarter, up from their previous forecast 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.

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

A number of other analysts have also recently weighed in on the company. Truist Financial raised Robert Half from a “sell” rating to a “hold” rating and set a $72.00 price objective for the company in a research report on Monday, April 22nd. BMO Capital Markets dropped their price target on Robert Half from $85.00 to $80.00 and set a “market perform” rating for the company in a research report on Wednesday, January 31st. Finally, Robert W. Baird dropped their price objective on Robert Half from $84.00 to $79.00 and set an “outperform” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Robert Half presently has a consensus rating of “Hold” and an average price target of $68.14.

Robert Half Trading Down 1.8 %

Shares of NYSE:RHI opened at $69.35 on Friday. The firm has a 50 day simple moving average of $77.22 and a 200-day simple moving average of $79.44. Robert Half has a twelve month low of $64.65 and a twelve month high of $88.39. The company has a market capitalization of $7.29 billion, a PE ratio of 17.92, a P/E/G ratio of 17.82 and a beta of 1.26.

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 issued a dividend of $0.53 per share. This is a positive change from Robert Half’s previous quarterly dividend of $0.48. This represents a $2.12 annualized dividend and a dividend yield of 3.06%. The ex-dividend date was Thursday, February 22nd. Robert Half’s dividend payout ratio is presently 54.78%.

Insider Buying and Selling

In other news, EVP Robert W. Glass sold 7,500 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $80.46, for a total value of $603,450.00. Following the transaction, the executive vice president now owns 186,062 shares of the company’s stock, valued at approximately $14,970,548.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.00% of the company’s stock.

Institutional Trading of Robert Half

A number of hedge funds have recently made changes to their positions in RHI. Hsbc Holdings PLC raised its stake in Robert Half by 17.8% during the third quarter. Hsbc Holdings PLC now owns 785,690 shares of the business services provider’s stock valued at $57,594,000 after buying an additional 118,800 shares in the last quarter. Ontario Teachers Pension Plan Board grew its holdings in shares of Robert Half by 151.9% during the third quarter. Ontario Teachers Pension Plan Board now owns 72,505 shares of the business services provider’s stock valued at $5,313,000 after purchasing an additional 43,726 shares during the last quarter. Twin Capital Management Inc. increased its position in Robert Half by 38.7% in the fourth quarter. Twin Capital Management Inc. now owns 7,700 shares of the business services provider’s stock worth $677,000 after buying an additional 2,148 shares during the period. Mackenzie Financial Corp lifted its position in Robert Half by 34.0% in the 4th quarter. Mackenzie Financial Corp now owns 53,265 shares of the business services provider’s stock valued at $4,683,000 after purchasing an additional 13,503 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in Robert Half by 88.5% during the 3rd quarter. Nordea Investment Management AB now owns 27,740 shares of the business services provider’s stock valued at $2,048,000 after purchasing an additional 13,026 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.