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 EPS guidance of 0.630-0.770 for the period, compared to the consensus EPS 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.

Robert Half Price Performance

NYSE RHI opened at $69.35 on Friday. The stock 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. The business has a 50 day simple moving average of $77.22 and a two-hundred day simple moving average of $79.44. Robert Half has a 1-year low of $64.65 and a 1-year high of $88.39.

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

Robert Half Increases Dividend

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

Analyst Upgrades and Downgrades

RHI has been the subject of several research analyst reports. 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 report on Monday, April 22nd. BMO Capital Markets cut their price target on Robert Half from $85.00 to $80.00 and set a market perform rating for the company in a report on Wednesday, January 31st. Finally, Robert W. Baird dropped their target price on Robert Half from $84.00 to $79.00 and set an outperform rating for the company in a report on Friday. One 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 company. According to MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $68.14.

Insider Transactions at Robert Half

In other news, EVP Robert W. Glass sold 7,500 shares of Robert Half stock in a transaction that occurred 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 transaction, the executive vice president now 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 is available through the SEC website. Company 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.