Robert Half International Inc. (RHI) Upgraded to Hold by Zacks Investment Research
According to Zacks, “Estimates have been going down after the second quarter earnings release. Robert Half reported weaker-than-expected second quarter of 2016 results, possibly due to uncertain macro-economic environment and market volatility. However, both earnings and revenues grew on a year-over-year basis. Robert Half has been witnessing strong year-over-year earnings growth since the past many quarters driven by solid demand for services provided by skilled professionals as well as a growing labor market in the U.S. The recently released 2017 Salary Guides by Robert Half also shows rising demand for skilled professionals. However, the company cannot escape from currency fluctuations. Also, the company is expected to incur higher costs in the near term.”
RHI has been the subject of a number of other research reports. Deutsche Bank AG started coverage on shares of Robert Half International in a research note on Wednesday, August 17th. They set a buy rating and a $44.00 target price for the company. Macquarie assumed coverage on shares of Robert Half International in a research note on Thursday, August 25th. They issued a neutral rating and a $43.00 price objective for the company. BMO Capital Markets lowered shares of Robert Half International from an outperform rating to a market perform rating and reduced their price objective for the company from $45.00 to $36.00 in a research note on Wednesday, July 27th. RBC Capital Markets set a $42.00 price objective on shares of Robert Half International and gave the company a buy rating in a research note on Wednesday, July 27th. Finally, Bank of America Corp. lowered shares of Robert Half International from a buy rating to a neutral rating and set a $44.00 price objective for the company. in a research note on Wednesday, July 13th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $46.53.
Shares of Robert Half International (NYSE:RHI) opened at 38.12 on Tuesday. The company has a 50 day moving average price of $37.83 and a 200-day moving average price of $39.94. Robert Half International has a 12-month low of $34.34 and a 12-month high of $54.01. The firm has a market cap of $4.90 billion, a PE ratio of 13.65 and a beta of 1.29.
Robert Half International (NYSE:RHI) last issued its earnings results on Tuesday, July 26th. The company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by $0.02. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.36 billion. Robert Half International had a net margin of 6.94% and a return on equity of 35.42%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period last year, the business earned $0.67 EPS. Analysts expect that Robert Half International will post $2.75 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, August 25th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, August 23rd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.31%. Robert Half International’s payout ratio is 31.54%.
In other news, insider Robert W. Glass sold 30,061 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $36.93, for a total transaction of $1,110,152.73. Following the transaction, the insider now directly owns 340,972 shares in the company, valued at $12,592,095.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.40% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Bancorpsouth Inc. bought a new position in shares of Robert Half International during the first quarter worth about $261,000. Rehmann Capital Advisory Group raised its position in shares of Robert Half International by 1.0% in the first quarter. Rehmann Capital Advisory Group now owns 5,938 shares of the company’s stock worth $277,000 after buying an additional 60 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Robert Half International by 25.8% in the first quarter. Prudential Financial Inc. now owns 1,363,525 shares of the company’s stock worth $63,513,000 after buying an additional 280,010 shares during the last quarter. Teachers Advisors Inc. raised its position in shares of Robert Half International by 45.3% in the first quarter. Teachers Advisors Inc. now owns 269,338 shares of the company’s stock worth $12,546,000 after buying an additional 83,956 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its position in shares of Robert Half International by 33.2% in the first quarter. TIAA CREF Investment Management LLC now owns 1,154,685 shares of the company’s stock worth $53,785,000 after buying an additional 287,705 shares during the last quarter. Institutional investors own 85.17% of the company’s stock.
Robert Half International Company Profile
Robert Half International Inc provides specialized staffing and risk consulting services. The Company’s divisions are Accountemps, Robert Half Finance & Accounting, OfficeTeam, Robert Half Technology, Robert Half Management Resources, Robert Half Legal, The Creative Group and Protiviti. It operates through three segments: temporary and consultant staffing, permanent placement staffing, and risk consulting and internal audit services.
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