Herc (NYSE:HRI) Announces Quarterly Earnings Results

Herc (NYSE:HRI) released its quarterly earnings data on Tuesday. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.67, FiscalAI reports. Herc had a negative net margin of 0.11% and a positive return on equity of 10.72%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.16 billion.

Herc Stock Down 1.7%

Shares of NYSE:HRI opened at $159.85 on Tuesday. The firm has a market cap of $5.34 billion, a PE ratio of -592.02, a price-to-earnings-growth ratio of 29.52 and a beta of 1.88. The company has a fifty day simple moving average of $143.34 and a 200 day simple moving average of $137.10. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 4.24. Herc has a 12-month low of $88.45 and a 12-month high of $188.35.

Herc Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Friday, May 29th. Herc’s payout ratio is -1,037.04%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Advisory Services Network LLC bought a new stake in shares of Herc in the 3rd quarter worth about $35,000. Caitong International Asset Management Co. Ltd acquired a new position in Herc in the third quarter worth about $40,000. NewEdge Advisors LLC increased its holdings in Herc by 628.8% in the third quarter. NewEdge Advisors LLC now owns 430 shares of the transportation company’s stock valued at $50,000 after buying an additional 371 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Herc by 50.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 332 shares of the transportation company’s stock valued at $51,000 after buying an additional 111 shares during the last quarter. Finally, BOKF NA acquired a new stake in Herc during the third quarter valued at approximately $52,000. 93.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on HRI shares. Wells Fargo & Company raised their price objective on Herc from $160.00 to $176.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Weiss Ratings upgraded shares of Herc from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, July 10th. Zacks Research raised shares of Herc from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 9th. Citigroup upped their target price on shares of Herc from $155.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Herc from $140.00 to $165.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $173.43.

Herc Company Profile

Herc Holdings Inc (NYSE: HRI) operates as a leading equipment rental provider in North America, offering a wide range of machinery and support services to construction, industrial, government and event sectors. The company’s fleet includes aerial work platforms, earthmoving equipment, material handling solutions, power generation units and specialty tools, enabling clients to scale their operations without the capital expense of ownership. In addition to basic machinery rentals, Herc provides value-added services such as equipment maintenance, on-site safety training and project consulting to help customers optimize productivity and maintain compliance with industry standards.

Founded as part of Hertz Global Holdings, the equipment rental business was spun off as an independent public company in early 2016.