Robert Half (NYSE:RHI) Announces Earnings Results, Beats Estimates By $0.02 EPS

Robert Half (NYSE:RHI) issued its quarterly earnings results on Thursday. The business services provider reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02, FiscalAI reports. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. Robert Half had a return on equity of 11.76% and a net margin of 2.85%.

Robert Half Trading Up 0.3%

Shares of RHI traded up $0.08 during trading hours on Thursday, reaching $27.03. The company had a trading volume of 4,407,188 shares, compared to its average volume of 2,317,594. The firm has a 50 day simple moving average of $27.64 and a 200-day simple moving average of $31.76. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 17.55 and a beta of 0.85. Robert Half has a 12-month low of $25.22 and a 12-month high of $66.74.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on RHI shares. UBS Group decreased their target price on shares of Robert Half from $30.00 to $27.00 and set a “sell” rating on the stock in a research note on Thursday, October 23rd. Zacks Research cut shares of Robert Half from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 19th. The Goldman Sachs Group cut their price objective on Robert Half from $31.00 to $27.00 and set a “sell” rating on the stock in a research report on Thursday, October 23rd. Truist Financial set a $35.00 target price on Robert Half in a report on Friday, December 12th. Finally, BMO Capital Markets lowered their price objective on Robert Half from $36.00 to $31.00 and set a “market perform” rating for the company in a research report on Thursday, October 23rd. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $30.63.

Institutional Trading of Robert Half

Several institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC lifted its stake in Robert Half by 24.8% in the 3rd quarter. AQR Capital Management LLC now owns 7,738,454 shares of the business services provider’s stock valued at $262,953,000 after buying an additional 1,537,245 shares in the last quarter. State Street Corp boosted its position in Robert Half by 2.7% during the second quarter. State Street Corp now owns 4,873,440 shares of the business services provider’s stock worth $200,055,000 after acquiring an additional 127,322 shares during the last quarter. UBS Group AG raised its holdings in Robert Half by 35.7% in the 3rd quarter. UBS Group AG now owns 1,776,321 shares of the business services provider’s stock valued at $60,359,000 after acquiring an additional 467,682 shares during the last quarter. Qube Research & Technologies Ltd lifted its stake in shares of Robert Half by 29.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,478,291 shares of the business services provider’s stock worth $50,232,000 after purchasing an additional 332,835 shares during the period. Finally, Invesco Ltd. increased its stake in Robert Half by 40.9% in the third quarter. Invesco Ltd. now owns 1,295,712 shares of the business services provider’s stock valued at $44,028,000 after purchasing an additional 376,389 shares during the last quarter. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Robert Half Company Profile

Robert Half International Inc, founded in 1948 by Robert Half, is a global professional staffing and consulting firm headquartered in Menlo Park, California. As a pioneer in specialized staffing, the company has built a reputation for matching skilled professionals with leading organizations across a range of industries. Robert Half’s shares trade on the New York Stock Exchange under the ticker RHI, reflecting its position as one of the longest?standing and best?known firms in the staffing sector.

The company offers a comprehensive suite of services, including temporary staffing, permanent placement, and consulting solutions.