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

Robert Half (NYSE:RHI) updated its second quarter 2024 earnings guidance on Friday. 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.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Robert W. Baird cut their price objective on shares of Robert Half from $84.00 to $79.00 and set an outperform rating for the company in a research report on Friday. BMO Capital Markets cut their price objective on shares of 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, Truist Financial upgraded shares of 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $68.14.

Robert Half Stock Down 1.8 %

NYSE:RHI opened at $69.35 on Monday. Robert Half has a fifty-two week low of $64.65 and a fifty-two week high of $88.39. The stock has a market cap of $7.29 billion, a PE ratio of 20.76, a price-to-earnings-growth ratio of 17.24 and a beta of 1.26. The firm’s fifty day simple moving average is $76.99 and its 200-day simple moving average is $79.42.

Robert Half (NYSE:RHI) last posted its quarterly 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 5.74% and a return on equity of 22.08%. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the prior year, the company posted $1.14 EPS. The business’s revenue for the quarter was down 14.0% on a year-over-year basis. Equities analysts anticipate that Robert Half will post 3.3 earnings per share for the current year.

Robert Half Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, February 23rd were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This is a boost from Robert Half’s previous quarterly dividend of $0.48. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.06%. Robert Half’s dividend payout ratio is 63.47%.

Insider Transactions at Robert Half

In related news, EVP Robert W. Glass sold 7,500 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $80.46, for a total value of $603,450.00. Following the sale, the executive vice president now directly owns 186,062 shares of the company’s stock, valued at approximately $14,970,548.52. The sale was disclosed in a filing with the SEC, which is available 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.