Herc (NYSE:HRI) Releases Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Herc (NYSE:HRI) posted its quarterly earnings results on Tuesday. The transportation company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.11, FiscalAI reports. Herc had a positive return on equity of 16.32% and a negative net margin of 1.68%.The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.25 billion.

Herc Price Performance

Shares of NYSE HRI opened at $173.43 on Tuesday. The stock has a market cap of $5.77 billion, a P/E ratio of -68.82, a P/E/G ratio of 1.61 and a beta of 1.77. The firm’s 50-day simple moving average is $159.92 and its 200 day simple moving average is $139.57. Herc has a fifty-two week low of $96.18 and a fifty-two week high of $201.28. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 4.28.

Herc Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 18th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Wednesday, February 18th. Herc’s dividend payout ratio (DPR) is -111.11%.

Hedge Funds Weigh In On Herc

Large investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Herc by 4.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,608 shares of the transportation company’s stock valued at $239,000 after acquiring an additional 72 shares in the last quarter. Wealthspire Advisors LLC lifted its position in Herc by 2.8% in the fourth quarter. Wealthspire Advisors LLC now owns 2,717 shares of the transportation company’s stock worth $403,000 after purchasing an additional 75 shares during the period. Captrust Financial Advisors boosted its stake in Herc by 5.1% during the 2nd quarter. Captrust Financial Advisors now owns 2,051 shares of the transportation company’s stock valued at $270,000 after purchasing an additional 100 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Herc by 50.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 332 shares of the transportation company’s stock valued at $51,000 after purchasing an additional 111 shares in the last quarter. Finally, State of Wyoming increased its position in shares of Herc by 33.2% during the 4th quarter. State of Wyoming now owns 509 shares of the transportation company’s stock valued at $76,000 after purchasing an additional 127 shares during the period. Institutional investors and hedge funds own 93.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on HRI. JPMorgan Chase & Co. upped their price target on Herc from $150.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Citigroup raised their price target on shares of Herc from $170.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. Barclays boosted their price objective on shares of Herc from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, January 23rd. Robert W. Baird set a $200.00 price objective on shares of Herc in a research note on Wednesday, October 29th. Finally, KeyCorp set a $200.00 target price on Herc and gave the company an “overweight” rating in a research note on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Herc has an average rating of “Moderate Buy” and an average target price of $181.43.

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.