Stock Repurchase Plan Announced by Robert Half International (RHI) Board

Robert Half International (NYSE:RHI) announced that its Board of Directors has authorized a stock repurchase plan, which allows the company to buyback 10,000,000 outstanding shares on Tuesday, February 13th, EventVestor reports. This buyback authorization allows the business services provider to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Several brokerages have weighed in on RHI. Royal Bank of Canada reaffirmed a “hold” rating and set a $57.00 target price on shares of Robert Half International in a research note on Wednesday, December 27th. Robert W. Baird reaffirmed a “buy” rating and set a $67.00 target price on shares of Robert Half International in a research note on Wednesday, January 31st. Macquarie downgraded Robert Half International from a “neutral” rating to an “underperform” rating and cut their target price for the company from $56.66 to $42.00 in a research note on Tuesday, December 5th. Deutsche Bank lifted their target price on Robert Half International from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, December 28th. Finally, BMO Capital Markets boosted their price objective on Robert Half International from $53.00 to $58.00 and gave the stock a “market perform” rating in a research note on Friday, December 29th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Robert Half International currently has an average rating of “Hold” and a consensus price target of $57.22.

Shares of Robert Half International (NYSE RHI) traded down $0.16 during midday trading on Thursday, hitting $55.96. The company had a trading volume of 421,707 shares, compared to its average volume of 1,118,285. The firm has a market cap of $7,020.00, a PE ratio of 24.05 and a beta of 1.27. Robert Half International has a twelve month low of $42.92 and a twelve month high of $60.59.

Robert Half International (NYSE:RHI) last issued its earnings results on Tuesday, January 30th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.02. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Robert Half International had a return on equity of 29.31% and a net margin of 5.52%. The company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.61 EPS. equities research analysts forecast that Robert Half International will post 3.23 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Friday, February 23rd will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.00%. This is a boost from Robert Half International’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, February 22nd. Robert Half International’s payout ratio is presently 41.20%.

In related news, COO Paul F. Gentzkow sold 130,247 shares of Robert Half International stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $56.31, for a total value of $7,334,208.57. Following the transaction, the chief operating officer now directly owns 499,733 shares in the company, valued at approximately $28,139,965.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Paul F. Gentzkow sold 205,000 shares of Robert Half International stock in a transaction on Monday, February 5th. The shares were sold at an average price of $56.31, for a total value of $11,543,550.00. Following the transaction, the chief operating officer now owns 499,733 shares in the company, valued at approximately $28,139,965.23. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

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About Robert Half International

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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