Robert Half (NYSE:RHI) Updates 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 guidance of 0.630-0.770 for the period, compared to the consensus earnings per share 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 Performance

Shares of NYSE:RHI traded down $1.25 during midday trading on Friday, hitting $69.35. 2,130,676 shares of the stock were exchanged, compared to its average volume of 1,060,371. Robert Half has a 52-week low of $64.65 and a 52-week high of $88.39. The business’s fifty day simple moving average is $77.22 and its two-hundred day simple moving average is $79.44. The company 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.

Robert Half (NYSE:RHI) last posted its earnings results on Thursday, April 25th. The business services provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.60 by $0.01. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. Robert Half had a net margin of 6.43% and a return on equity of 25.73%. The business’s quarterly revenue was down 14.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.14 earnings per share. As a group, equities analysts anticipate that Robert Half will post 3.34 EPS for the current 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 dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 3.06%. This is an increase from Robert Half’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, February 22nd. Robert Half’s dividend payout ratio is presently 54.78%.

Wall Street Analysts Forecast Growth

RHI has been the topic of several research analyst reports. Truist Financial raised Robert Half from a sell rating to a hold rating and set a $72.00 price target on the stock in a research report on Monday. BMO Capital Markets lowered their price target 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. Finally, Robert W. Baird lowered their price target on Robert Half from $84.00 to $79.00 and set an outperform rating on the stock in a research report on Friday. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $68.14.

Insider Activity at Robert Half

In other Robert Half news, EVP Robert W. Glass sold 7,500 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were 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 owns 186,062 shares in the company, valued at $14,970,548.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.00% of the stock is owned by corporate 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.