Herc Holdings Inc. (NYSE:HRI – Get Rating) – Equities researchers at KeyCorp dropped their Q3 2023 earnings estimates for Herc in a note issued to investors on Thursday, July 21st. KeyCorp analyst K. Newman now anticipates that the transportation company will post earnings per share of $4.29 for the quarter, down from their prior estimate of $4.42. KeyCorp has a “Overweight” rating and a $130.00 price objective on the stock. The consensus estimate for Herc’s current full-year earnings is $11.83 per share.
HRI has been the subject of a number of other reports. Robert W. Baird cut their price target on Herc from $161.00 to $158.00 in a research note on Thursday, April 21st. Wells Fargo & Company cut their target price on Herc to $165.00 in a research report on Friday. The Goldman Sachs Group cut their price objective on Herc from $205.00 to $180.00 and set a “buy” rating for the company in a research report on Thursday, June 23rd. Finally, StockNews.com started coverage on Herc in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $173.00.
Herc Trading Up 1.8 %
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NYSE:HRI opened at $104.69 on Monday. The business has a fifty day moving average of $102.38 and a 200-day moving average of $133.47. Herc has a 1 year low of $83.43 and a 1 year high of $203.14. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 0.35 and a beta of 2.64. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.03 and a current ratio of 1.03.
Herc (NYSE:HRI – Get Rating) last issued its earnings results on Thursday, July 21st. The transportation company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.15). Herc had a return on equity of 29.15% and a net margin of 11.76%. The firm had revenue of $640.40 million for the quarter, compared to analysts’ expectations of $631.11 million. During the same quarter in the previous year, the firm posted $1.57 EPS. The firm’s revenue for the quarter was up 30.6% compared to the same quarter last year.
Herc Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Friday, May 27th were issued a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend was Thursday, May 26th. Herc’s dividend payout ratio (DPR) is presently 25.47%.
Insiders Place Their Bets
In related news, CFO Mark Irion acquired 218 shares of the stock in a transaction that occurred on Friday, June 10th. The shares were bought at an average price of $116.88 per share, for a total transaction of $25,479.84. Following the completion of the transaction, the chief financial officer now directly owns 51,714 shares in the company, valued at $6,044,332.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.30% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in HRI. SOA Wealth Advisors LLC. bought a new stake in shares of Herc during the 1st quarter valued at $28,000. First Quadrant LLC CA purchased a new position in shares of Herc in the 1st quarter worth approximately $38,000. Covestor Ltd purchased a new position in shares of Herc in the 4th quarter worth approximately $41,000. PNC Financial Services Group Inc. grew its position in Herc by 90.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 315 shares of the transportation company’s stock worth $52,000 after purchasing an additional 150 shares during the last quarter. Finally, Pinebridge Investments L.P. purchased a new stake in Herc during the 4th quarter worth approximately $63,000.
About Herc
Herc Holdings Inc, together with its subsidiaries, operates as an equipment rental supplier. It rents aerial, earthmoving, material handling, trucks and trailers, air compressors, compaction, and lighting equipment, as well as generators, and safety supplies and expendables; and provides ProSolutions, an industry specific solution based services, such as pumping solutions, power generation, climate control, remediation and restoration, and studio and production equipment.
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