Zacks Investment Research upgraded shares of Robert Half International Inc. (NYSE:RHI) from a sell rating to a hold rating in a report issued on Thursday, October 26th.
According to Zacks, “Robert Half’s shares have surpassed the industry in the past six months, largely due to strength in its international hiring. In fact, international revenue growth also cushioned the company’s otherwise drab third-quarter 2017 results. Both the top and bottom lines fell year over year for the fifth straight time, and lagged the Zacks Consensus Estimate. Results were hurt by soft U.S. revenues and the Protiviti segment in particular. Despite a strong job market, the hiring cycle remains long as employers take more time to make hiring decisions, which is denting the company’s profits. On the other hand, international revenues grew, driven by solid European business. Also, management stated that the overall economic trends have improved lately, which is likely to benefit the company’s business. Further, it remains hopeful of the ongoing results, given the enhanced revenue growth in September, which also continued into October.”
Several other research firms have also recently issued reports on RHI. BidaskClub cut shares of Robert Half International from a hold rating to a sell rating in a research report on Friday, July 28th. Royal Bank Of Canada restated a hold rating on shares of Robert Half International in a research report on Friday, July 14th. BMO Capital Markets raised their price objective on shares of Robert Half International from $45.00 to $49.00 and gave the company a market perform rating in a research note on Friday, July 14th. Robert W. Baird lifted their target price on shares of Robert Half International from $50.00 to $55.00 and gave the company an outperform rating in a report on Wednesday, October 25th. Finally, SunTrust Banks, Inc. cut shares of Robert Half International from a buy rating to a hold rating and set a $52.00 target price on the stock. in a report on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. Robert Half International has an average rating of Hold and a consensus target price of $51.88.
Shares of Robert Half International (RHI) traded up $0.63 during trading on Thursday, reaching $53.53. 920,400 shares of the company’s stock were exchanged, compared to its average volume of 1,063,591. Robert Half International has a twelve month low of $42.92 and a twelve month high of $53.70. The firm has a market cap of $6,631.00, a price-to-earnings ratio of 20.75 and a beta of 1.29.
Robert Half International (NYSE:RHI) last posted its quarterly earnings data on Tuesday, October 24th. The business services provider reported $0.68 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.70 by ($0.02). The company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Robert Half International had a net margin of 6.20% and a return on equity of 29.13%. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.71 earnings per share. analysts expect that Robert Half International will post 2.58 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 24th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Wednesday, November 22nd. Robert Half International’s dividend payout ratio (DPR) is 37.65%.
In related news, CEO Harold M. Messmer, Jr. sold 100,000 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $52.31, for a total transaction of $5,231,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.40% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of RHI. BlackRock Inc. increased its holdings in shares of Robert Half International by 2,875.0% during the first quarter. BlackRock Inc. now owns 9,961,750 shares of the business services provider’s stock valued at $486,431,000 after purchasing an additional 9,626,906 shares during the period. Janus Henderson Group PLC increased its position in shares of Robert Half International by 4,051.8% during the second quarter. Janus Henderson Group PLC now owns 921,072 shares of the business services provider’s stock valued at $44,147,000 after purchasing an additional 898,887 shares during the period. Vanguard Group Inc. increased its position in shares of Robert Half International by 5.9% during the second quarter. Vanguard Group Inc. now owns 13,632,206 shares of the business services provider’s stock valued at $653,391,000 after purchasing an additional 758,834 shares during the period. Lord Abbett & CO. LLC increased its position in shares of Robert Half International by 42.1% during the second quarter. Lord Abbett & CO. LLC now owns 1,852,461 shares of the business services provider’s stock valued at $88,788,000 after purchasing an additional 548,507 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Robert Half International by 153.8% during the second quarter. JPMorgan Chase & Co. now owns 888,822 shares of the business services provider’s stock valued at $42,601,000 after purchasing an additional 538,557 shares during the period. Institutional investors own 83.92% of the company’s stock.
Robert Half International Company Profile
Robert Half International Inc provides specialized staffing and risk consulting services. The Company provides these services through its divisions, including Accountemps, Robert Half Finance & Accounting, OfficeTeam, Robert Half Technology, Robert Half Management Resources, Robert Half Legal, The Creative Group and Protiviti.
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