Herc (NYSE:HRI – Get Rating) released its quarterly earnings data on Thursday. The transportation company reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.15), Briefing.com reports. Herc had a net margin of 11.42% and a return on equity of 27.26%. The company had revenue of $640.40 million for the quarter, compared to analyst estimates of $631.11 million. During the same period in the previous year, the firm posted $1.57 earnings per share. The firm’s revenue for the quarter was up 30.6% compared to the same quarter last year.
Herc Stock Performance
Herc stock traded up $1.64 during trading hours on Friday, hitting $104.49. The company had a trading volume of 4,505 shares, compared to its average volume of 290,628. The firm has a 50-day moving average of $102.52 and a 200 day moving average of $134.27. Herc has a one year low of $83.43 and a one year high of $203.14. The firm has a market cap of $3.12 billion, a PE ratio of 12.88, a PEG ratio of 0.34 and a beta of 2.64. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.03 and a quick ratio of 1.03.
Herc Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Friday, May 27th were issued a $0.575 dividend. The ex-dividend date of this dividend was Thursday, May 26th. This represents a $2.30 annualized dividend and a yield of 2.20%. Herc’s dividend payout ratio is currently 28.05%.
Analyst Ratings Changes
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Several analysts have commented on HRI shares. The Goldman Sachs Group dropped their target price on shares of Herc from $205.00 to $180.00 and set a “buy” rating for the company in a research report on Thursday, June 23rd. KeyCorp reduced their target price on shares of Herc from $155.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, July 12th. Wells Fargo & Company upped their target price on shares of Herc from $205.00 to $207.00 and gave the stock an “overweight” rating in a research note on Friday, April 22nd. StockNews.com assumed coverage on shares of Herc in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, Robert W. Baird reduced their price objective on shares of Herc from $161.00 to $158.00 in a research note on Thursday, April 21st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Herc presently has an average rating of “Moderate Buy” and a consensus price target of $180.00.
Insiders Place Their Bets
In other news, CFO Mark Irion purchased 218 shares of Herc stock in a transaction that occurred on Friday, June 10th. The shares were acquired at an average price of $116.88 per share, for a total transaction of $25,479.84. Following the transaction, the chief financial officer now owns 51,714 shares of the company’s stock, valued at approximately $6,044,332.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.30% of the company’s stock.
Institutional Trading of Herc
A number of hedge funds have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. boosted its position in Herc by 21.3% in the first quarter. Advisors Asset Management Inc. now owns 3,573 shares of the transportation company’s stock valued at $597,000 after buying an additional 627 shares in the last quarter. Salem Investment Counselors Inc. bought a new position in shares of Herc during the first quarter valued at $109,000. Eaton Vance Management raised its stake in shares of Herc by 6.7% during the first quarter. Eaton Vance Management now owns 453,734 shares of the transportation company’s stock valued at $75,814,000 after acquiring an additional 28,429 shares during the last quarter. State Street Corp raised its stake in shares of Herc by 3.6% during the first quarter. State Street Corp now owns 504,967 shares of the transportation company’s stock valued at $84,375,000 after acquiring an additional 17,413 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Herc by 30.1% during the first quarter. Invesco Ltd. now owns 1,128,905 shares of the transportation company’s stock valued at $188,630,000 after acquiring an additional 261,276 shares during the last quarter.
Herc Company Profile
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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