NEW YORK (TheStreet) -- Shares of Robert Half Int'l (RHI) - Get Report were sliding 7.47% to $36.54 on heavy trading volume early Thursday afternoon after the company reported soft revenue for the 2016 third quarter and issued a downbeat outlook for the current period.
After yesterday's closing bell, the Menlo Park, CA-based staffing and risk consulting company reported revenue of $1.34 billion. Analysts surveyed by FactSet had projected $1.36 billion.
Earnings of 71 cents per share were in line with analysts' expectations.
Globally, year-over-year revenue growth rates for the company's temporary and consulting staffing divisions decelerated during the third quarter.
For the fourth quarter, Robert Half sees earnings per share between 60 cents and 66 cents on revenue of $1.25 billion to $1.31 billion. Analysts are looking for earnings of 65 cents per share on revenue of $1.29 billion, according to FactSet.
Additionally, William Blair downgraded the stock to "market perform" from "outperform" after the quarterly report.
More than 7.23 million of the company's shares changed hands so far today vs. its average 30-day volume of 1.06 million shares.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B- on the stock.
The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, attractive valuation levels and growth in earnings per share. We feel its strengths outweigh the fact that the company shows weak operating cash flow.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: RHI