/Robert%20Half%20Inc%20logo%20magnified-by%20Casimiro%20PT%20via%20Shutterstock.jpg)
Robert Half Inc. (RHI), headquartered in Menlo Park, California, provides talent solutions and business consulting services in North America, South America, Europe, Asia, and Australia. Valued at $6.43 billion by market cap, the company offers contract talent and permanent placement solutions in finance and accounting, technology, marketing and creative, legal, administrative, customer support, and executive search services. The leading specialized talent solutions and business consulting firm is expected to announce its fiscal second-quarter earnings for 2024 on Tuesday, Jul. 23.
Ahead of the event, analysts expect RHI to report a profit of $0.71 per share on a diluted basis, down 29% from $1 per share in the year-ago quarter. The company beat the consensus estimates in three of the last four quarters while missing on one other occasion.
For fiscal 2024, analysts expect RHI to report EPS of $2.92, down 24.7% from $3.88 in fiscal 2023.
RHI stock has significantly underperformed the S&P 500’s ($SPX) 17.1% gains on a YTD basis, with shares down 28.6% during this period. Similarly, it has underperformed the S&P 500 Industrials Sector SPDR’s (XLI) 8.3% gains over the same time frame.
On Jun. 11, RHI shares rose more than 1% after BNP Paribas Exane upgraded the stock to Outperform from Underperform.
On Apr. 25, RHI reported its Q1 results. Its EPS declined 46.5% year over year to $0.61 but surpassed the consensus estimates of $0.60. The company’s revenue decreased 14% year over year to $1.48 billion, falling short of the Wall Street estimates of $1.49 billion. RHI shares closed down more than 1% on the day the results were released and have been on a downtrend since then.
Analysts’ consensus opinion on RHI stock is neutral, with a “Hold” rating overall. Out of 12 analysts covering the stock, two advise a “Strong Buy” rating, one has a “Moderate Buy” rating, five recommend a “Hold” rating, two suggest a “Moderate Sell” rating, and two give a “Strong Sell.”
The average analyst price target for RHI is $72.50, indicating a potential upside of 15.5% from the current levels.
On the date of publication, Dipanjan Banchur did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
