Robert Half Posts a Solid 2Q; Raising FVE to $65 per Share
Narrow-moat-rated Robert Half had a good second quarter, and the firm is progressing slightly ahead of our 2018 expectations. We are raising our fair value estimate to $65 per share from $62 to account for a cyclical inflection, as well as incorporating the firm’s latest broad-based, strong results into our model. Revenue rose by 11.4% year over year to $1.46 billion, including 10% on a same-day, constant-currency basis. Net income per share in the second quarter was $0.89, up 39% year over year...Robert Half International provides staffing and risk consulting services. The company, through its Accountemps, Robert Half Finance & Accounting, and Robert Half Management Resources divisions, is a provider of temporary, full-time, and project personnel in accounting and finance fields. The company's OfficeTeam division places office and administrative personnel, ranging from executive and administrative assistants to receptionists and customer service representatives. The Robert Half Technology division provides information technology contract consultants, places employees, and provides managed services in areas ranging from multiple platform systems integration to end-user technical and desktop support.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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