Barclays upgraded shares of Robert Half International (NYSE:RHI) from an equal weight rating to an overweight rating in a research report report published on Tuesday, MarketBeat reports. The firm currently has $66.00 target price on the business services provider’s stock, up from their previous target price of $62.00.
Other analysts also recently issued research reports about the company. Robert W. Baird restated a buy rating and set a $67.00 target price on shares of Robert Half International in a research note on Wednesday, January 31st. ValuEngine upgraded Robert Half International from a hold rating to a buy rating in a research note on Thursday, March 1st. Royal Bank of Canada increased their target price on Robert Half International to $62.00 and gave the company a positive rating in a research note on Wednesday, January 31st. BMO Capital Markets increased their target price on Robert Half International from $53.00 to $58.00 and gave the company a market perform rating in a research note on Friday, December 29th. Finally, Goldman Sachs began coverage on Robert Half International in a research note on Tuesday, March 27th. They set a neutral rating and a $63.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of Hold and an average target price of $58.20.
Shares of NYSE:RHI opened at $57.15 on Tuesday. Robert Half International has a twelve month low of $42.92 and a twelve month high of $60.59. The company has a market cap of $7,360.01, a P/E ratio of 22.87 and a beta of 1.18.
Robert Half International (NYSE:RHI) last announced its earnings results on Tuesday, January 30th. The business services provider reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.02. Robert Half International had a return on equity of 29.31% and a net margin of 5.52%. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the company earned $0.61 EPS. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. equities analysts forecast that Robert Half International will post 3.23 earnings per share for the current year.
Robert Half International announced that its Board of Directors has approved a share buyback program on Tuesday, February 13th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the business services provider to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Friday, February 23rd were given a $0.28 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.96%. This is an increase from Robert Half International’s previous quarterly dividend of $0.24. Robert Half International’s dividend payout ratio (DPR) is currently 43.08%.
In related news, CEO Harold M. Messmer, Jr. sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $58.06, for a total transaction of $5,806,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael C. Buckley sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $57.84, for a total value of $578,400.00. The disclosure for this sale can be found here. Insiders sold a total of 457,247 shares of company stock valued at $25,936,679 in the last quarter. Corporate insiders own 3.40% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Xact Kapitalforvaltning AB lifted its position in shares of Robert Half International by 5.2% during the 4th quarter. Xact Kapitalforvaltning AB now owns 28,305 shares of the business services provider’s stock worth $1,572,000 after buying an additional 1,406 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Robert Half International by 11.1% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 177,877 shares of the business services provider’s stock worth $9,879,000 after buying an additional 17,744 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. lifted its position in shares of Robert Half International by 48.2% during the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 8,300 shares of the business services provider’s stock worth $461,000 after buying an additional 2,700 shares during the period. Banco de Sabadell S.A bought a new position in shares of Robert Half International during the 4th quarter worth approximately $1,486,000. Finally, MetLife Investment Advisors LLC bought a new position in shares of Robert Half International during the 4th quarter worth approximately $2,154,000. Institutional investors and hedge funds own 85.49% of the company’s stock.
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Robert Half International Company Profile
Robert Half International Inc provides staffing and risk consulting services in North America, South America, Europe, Asia, and Australia. The company operates through three segments: Temporary and Consultant Staffing, Permanent Placement Staffing, and Risk Consulting and Internal Audit Services. It places temporary personnel for accounting, finance, and bookkeeping; temporary and full-time office and administrative personnel consisting of executive and administrative assistants, receptionists, and customer service representatives; full-time accounting, financial, tax, and accounting operations personnel; and information technology contract consultants and full-time employees in the areas of platform systems integration to end-user technical and desktop support, including specialists in application development, networking, systems integration and deployment, database design and administration, and security and business continuity.
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