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

Robert Half (NYSE:RHI) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 0.630-0.770 for the period, compared to the consensus 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 Stock Down 1.8 %

NYSE:RHI traded down $1.25 on Friday, reaching $69.35. The company’s stock had a trading volume of 2,130,676 shares, compared to its average volume of 1,060,371. Robert Half has a 12-month low of $64.65 and a 12-month high of $88.39. The firm has a market cap of $7.29 billion, a price-to-earnings ratio of 17.92, a price-to-earnings-growth ratio of 17.82 and a beta of 1.26. The stock has a 50 day moving average price of $77.22 and a 200 day moving average price of $79.44.

Robert Half (NYSE:RHI) last posted its earnings results on Thursday, April 25th. The business services provider reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Robert Half had a return on equity of 25.73% and a net margin of 6.43%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the business earned $1.14 earnings per share. The company’s revenue for the quarter was down 14.0% on a year-over-year basis. Equities research analysts expect that Robert Half will post 3.34 EPS for the current fiscal year.

Robert Half Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 23rd were given a $0.53 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $2.12 dividend on an annualized basis and a yield of 3.06%. This is an increase from Robert Half’s previous quarterly dividend of $0.48. Robert Half’s payout ratio is currently 54.78%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on RHI shares. BMO Capital Markets reduced their target price on Robert Half from $85.00 to $80.00 and set a market perform rating on the stock in a research report on Wednesday, January 31st. Truist Financial upgraded Robert Half from a sell rating to a hold rating and set a $72.00 price objective on the stock in a report on Monday. Finally, Robert W. Baird cut their price objective on Robert Half from $84.00 to $79.00 and set an outperform rating on the stock in a report on Friday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $68.14.

Insiders Place Their Bets

In other news, EVP Robert W. Glass sold 7,500 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $80.46, for a total transaction of $603,450.00. Following the completion of the transaction, the executive vice president now directly owns 186,062 shares of the company’s stock, valued at approximately $14,970,548.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.00% of the stock is owned by company insiders.

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.