Robert Half (NYSE:RHI) Given New $64.00 Price Target at BMO Capital Markets

Robert Half (NYSE:RHI) had its target price reduced by BMO Capital Markets from $72.00 to $64.00 in a research report report published on Thursday, Benzinga reports. They currently have a market perform rating on the business services provider’s stock.

Other equities analysts have also issued research reports about the company. Truist Financial upgraded Robert Half from a sell rating to a hold rating and set a $72.00 price target for the company in a research report on Monday, April 22nd. Robert W. Baird decreased their price target on Robert Half from $84.00 to $79.00 and set an outperform rating for the company in a research report on Friday, April 26th. BNP Paribas upgraded Robert Half from an underperform rating to an outperform rating and set a $80.00 price objective for the company in a research report on Tuesday, June 11th. StockNews.com lowered Robert Half from a buy rating to a hold rating in a research report on Friday, July 5th. Finally, JPMorgan Chase & Co. decreased their price objective on Robert Half from $74.00 to $70.00 and set a neutral rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $66.88.

Robert Half Stock Down 7.6 %

NYSE:RHI opened at $59.91 on Thursday. Robert Half has a 52-week low of $57.05 and a 52-week high of $88.39. The firm has a market cap of $6.29 billion, a P/E ratio of 17.94, a PEG ratio of 5.39 and a beta of 1.25. The business’s 50-day moving average price is $64.80 and its 200 day moving average price is $72.93.

Robert Half (NYSE:RHI) last released its quarterly earnings results on Wednesday, July 24th. The business services provider reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05). Robert Half had a net margin of 5.26% and a return on equity of 20.14%. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the business earned $1.00 EPS. The company’s revenue for the quarter was down 10.2% compared to the same quarter last year. Sell-side analysts expect that Robert Half will post 2.92 EPS for the current year.

Robert Half Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 24th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $2.12 annualized dividend and a dividend yield of 3.54%. Robert Half’s dividend payout ratio is 63.47%.

Insider Activity

In other news, Director Dirk A. Kempthorne sold 2,221 shares of Robert Half stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $69.66, for a total transaction of $154,714.86. Following the completion of the sale, the director now directly owns 10,713 shares in the company, valued at approximately $746,267.58. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Alpha Omega Wealth Management LLC raised its stake in shares of Robert Half by 4.0% in the 2nd quarter. Alpha Omega Wealth Management LLC now owns 33,386 shares of the business services provider’s stock valued at $2,136,000 after acquiring an additional 1,275 shares in the last quarter. Bank of New York Mellon Corp increased its position in Robert Half by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,053,730 shares of the business services provider’s stock worth $67,418,000 after buying an additional 72,965 shares during the period. Tributary Capital Management LLC increased its position in Robert Half by 25.4% in the 2nd quarter. Tributary Capital Management LLC now owns 9,185 shares of the business services provider’s stock worth $588,000 after buying an additional 1,861 shares during the period. Family Firm Inc. bought a new position in Robert Half in the 2nd quarter worth approximately $45,000. Finally, New York State Teachers Retirement System increased its position in Robert Half by 8.3% in the 2nd quarter. New York State Teachers Retirement System now owns 119,360 shares of the business services provider’s stock worth $7,637,000 after buying an additional 9,173 shares during the period. 92.41% of the stock is 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.