Robert Half (RHI – Research Report), the Industrials sector company, was revisited by a Wall Street analyst today. Analyst Jeffrey Silber from BMO Capital remains neutral on the stock and has a $81.00 price target.
Jeffrey Silber’s Hold rating on Robert Half (RHI) stock is largely based on a few key factors. Firstly, the company’s third-quarter earnings per share (EPS) exceeded expectations, primarily driven by better-than-anticipated margins resulting from cost-saving measures. In addition, RHI’s fourth-quarter guidance proved to be more favorable than anticipated, given the significant cost savings realized in Talent Solutions and Protiviti. Despite facing challenges in the last quarter and bearish expectations heading into earnings, Silber believes the stock will be well-received.
Furthermore, the company’s Talent Solutions showed signs of stability despite the overall economic strain. The resilience is attributed to the focus on higher-skilled roles. Meanwhile, Protiviti, another segment of the company, faced a decline in revenues but still remained within the guided range. Despite some segments facing challenges such as client budget pressures and lengthening sales cycles, regulatory risk and compliance continued to drive this segment with double-digit growth in Q3. Ultimately, Silber’s rating reflects his view that Robert Half, despite experiencing some cyclical aspects, is one of the best-operated companies in the staffing space that is expanding its technology offerings.
Silber covers the Financial sector, focusing on stocks such as S&P Global, Factset Research, and Moody’s. According to TipRanks, Silber has an average return of 12.4% and a 63.78% success rate on recommended stocks.
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Robert Half (RHI) Company Description:
Robert Half International, Inc. engages in the provision of staffing and risk consulting services. It operates through the following segments: Temporary and Consultant Staffing, Permanent Placement Staffing and Risk Consulting & Internal Audit Services. The Temporary and Consultant Staffing segment offers staffing in the accounting and finance, administrative and office, information technology, legal, advertising, marketing, and web design fields. The Permanent Placement Staffing segment provides full-time personnel in the accounting, finance, administrative & office and information technology fields. The Risk Consulting and Internal Audit Services segment comprises business and technology risk consulting and internal audit services. The company was founded by Robert Half in 1948 and is headquartered in Menlo Park, CA.
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