Herc Holdings Inc. Plans Quarterly Dividend of $0.67 (NYSE:HRI)

Herc Holdings Inc. (NYSE:HRIGet Free Report) announced a quarterly dividend on Friday, May 17th, Zacks reports. Investors of record on Friday, May 31st will be given a dividend of 0.665 per share by the transportation company on Friday, June 14th. This represents a $2.66 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Friday, May 31st.

Herc has a dividend payout ratio of 16.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Herc to earn $16.80 per share next year, which means the company should continue to be able to cover its $2.66 annual dividend with an expected future payout ratio of 15.8%.

Herc Trading Down 0.1 %

Shares of NYSE:HRI opened at $155.84 on Friday. The stock’s 50-day simple moving average is $157.85 and its two-hundred day simple moving average is $146.09. The stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 0.76 and a beta of 2.27. Herc has a 52-week low of $99.72 and a 52-week high of $171.00. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.51 and a current ratio of 1.51.

Herc (NYSE:HRIGet Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The transportation company reported $2.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.12). Herc had a return on equity of 28.68% and a net margin of 10.31%. The business had revenue of $804.00 million during the quarter. Analysts expect that Herc will post 14.59 EPS for the current year.

Insiders Place Their Bets

In related news, COO Aaron Birnbaum sold 5,844 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $152.33, for a total value of $890,216.52. Following the transaction, the chief operating officer now directly owns 48,232 shares of the company’s stock, valued at approximately $7,347,180.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Herc news, COO Aaron Birnbaum sold 5,844 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $152.33, for a total transaction of $890,216.52. Following the completion of the transaction, the chief operating officer now owns 48,232 shares of the company’s stock, valued at approximately $7,347,180.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lawrence Harris Silber sold 20,000 shares of Herc stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $158.81, for a total value of $3,176,200.00. Following the completion of the sale, the chief executive officer now directly owns 213,382 shares in the company, valued at $33,887,195.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,996 shares of company stock worth $5,656,956. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HRI. StockNews.com lowered Herc from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. The Goldman Sachs Group upped their price target on Herc from $155.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Robert W. Baird lifted their price objective on Herc from $117.00 to $142.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Herc presently has an average rating of “Hold” and a consensus target price of $152.50.

View Our Latest Stock Report on Herc

Herc Company Profile

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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.

See Also

Dividend History for Herc (NYSE:HRI)

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