Robert Half (NYSE:RHI) Issues Q2 2024 Earnings Guidance

Robert Half (NYSE:RHI) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 0.630-0.770 for the period, compared to the consensus earnings per share estimate of 0.800. The company issued revenue guidance of $1.5 billion-$1.6 billion, compared to the consensus revenue estimate of $1.5 billion.

Wall Street Analysts Forecast Growth

RHI has been the topic of a number of research reports. BMO Capital Markets cut their price objective on shares of Robert Half from $85.00 to $80.00 and set a market perform rating on the stock in a research note on Wednesday, January 31st. 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 report on Monday. Finally, Robert W. Baird reduced 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of Hold and a consensus target price of $68.14.

Robert Half Stock Down 1.8 %

Shares of Robert Half stock traded down $1.25 during mid-day trading on Friday, reaching $69.35. 2,130,676 shares of the stock traded hands, compared to its average volume of 1,060,371. The business has a 50-day moving average of $77.22 and a 200 day moving average of $79.44. The stock has a market capitalization of $7.29 billion, a PE ratio of 17.92, a PEG ratio of 17.82 and a beta of 1.26. Robert Half has a fifty-two week low of $64.65 and a fifty-two week high of $88.39.

Robert Half (NYSE:RHI) last announced its earnings results on Thursday, April 25th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.01. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Robert Half had a net margin of 6.43% and a return on equity of 25.73%. The firm’s quarterly revenue was down 14.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.14 EPS. On average, equities research analysts expect that Robert Half will post 3.34 EPS for the current fiscal year.

Robert Half Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 23rd were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 3.06%. This is a positive change from Robert Half’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, February 22nd. Robert Half’s dividend payout ratio (DPR) is 54.78%.

Insider Activity

In other Robert Half news, EVP Robert W. Glass sold 7,500 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $80.46, for a total value of $603,450.00. Following the completion of the sale, the executive vice president now directly owns 186,062 shares in the company, valued at approximately $14,970,548.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 3.00% 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.