Robert Half: Rare Quarterly EPS Decline and Cautious Near-Term Guidance; Reducing Fair Value
We reduced our fair value estimate to $44 from $46 for professional staffer Robert Half following lower year-over-year third-quarter EPS and management’s cautious near-term guidance. Our fair value estimate remains roughly 20% above the current market price. Absent an imminent recession, we think this represents an opportunity for investors seeking industry leaders with good growth prospects, healthy free cash flows, experienced management, and a sturdy economic moat.The firm’s 3% decline in ye...
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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