Robert Half Inc. Plans Quarterly Dividend of $0.59 (NYSE:RHI)

Robert Half Inc. (NYSE:RHI) declared a quarterly dividend on Thursday, May 1st, RTT News reports. Stockholders of record on Friday, May 23rd will be given a dividend of 0.59 per share by the business services provider on Friday, June 13th. This represents a $2.36 annualized dividend and a dividend yield of 4.99%. The ex-dividend date of this dividend is Friday, May 23rd.

Robert Half has raised its dividend payment by an average of 11.7% per year over the last three years and has raised its dividend annually for the last 22 consecutive years. Robert Half has a dividend payout ratio of 88.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Robert Half to earn $3.57 per share next year, which means the company should continue to be able to cover its $2.36 annual dividend with an expected future payout ratio of 66.1%.

Robert Half Stock Down 1.7%

RHI opened at $47.32 on Wednesday. The company has a market capitalization of $4.83 billion, a price-to-earnings ratio of 19.39 and a beta of 1.06. The firm has a 50-day moving average price of $48.78 and a 200-day moving average price of $61.17. Robert Half has a twelve month low of $40.00 and a twelve month high of $78.41.

Robert Half (NYSE:RHI) last posted its earnings results on Wednesday, April 23rd. The business services provider reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.19). The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Robert Half had a return on equity of 17.20% and a net margin of 4.34%. Robert Half’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.61 EPS. On average, sell-side analysts expect that Robert Half will post 2.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Robert Half

Hedge funds have recently bought and sold shares of the stock. Jones Financial Companies Lllp lifted its position in Robert Half by 498.7% during the first quarter. Jones Financial Companies Lllp now owns 6,813 shares of the business services provider’s stock valued at $372,000 after purchasing an additional 5,675 shares during the last quarter. Royal Bank of Canada lifted its position in Robert Half by 19.3% during the first quarter. Royal Bank of Canada now owns 38,352 shares of the business services provider’s stock valued at $2,092,000 after purchasing an additional 6,212 shares during the last quarter. Empowered Funds LLC lifted its position in Robert Half by 91.8% during the first quarter. Empowered Funds LLC now owns 55,719 shares of the business services provider’s stock valued at $3,039,000 after purchasing an additional 26,672 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Robert Half by 2.5% during the first quarter. Goldman Sachs Group Inc. now owns 304,359 shares of the business services provider’s stock valued at $16,603,000 after purchasing an additional 7,523 shares during the last quarter. 92.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Barclays reduced their target price on shares of Robert Half from $50.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. The Goldman Sachs Group reduced their price objective on shares of Robert Half from $46.00 to $40.00 and set a “sell” rating for the company in a research note on Thursday, April 24th. Truist Financial set a $55.00 price objective on shares of Robert Half and gave the company a “buy” rating in a research note on Thursday, April 24th. BNP Paribas Exane cut shares of Robert Half from an “outperform” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Robert Half from $65.00 to $47.00 and set a “neutral” rating for the company in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $48.71.

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.