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

Herc Holdings Inc. (NYSE:HRI) announced a quarterly dividend on Friday, December 6th,RTT News reports. Shareholders of record on Monday, December 16th will be paid a dividend of 0.665 per share by the transportation company on Friday, December 27th. This represents a $2.66 dividend on an annualized basis and a yield of 1.16%.

Herc has a dividend payout ratio of 17.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Herc to earn $15.81 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 16.8%.

Herc Trading Up 0.7 %

NYSE HRI opened at $230.14 on Friday. Herc has a one year low of $119.98 and a one year high of $246.88. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.22 and a quick ratio of 1.22. The business has a 50 day simple moving average of $202.77 and a 200 day simple moving average of $161.86. The stock has a market capitalization of $6.54 billion, a P/E ratio of 18.82, a P/E/G ratio of 1.32 and a beta of 2.02.

Herc (NYSE:HRI) last released its earnings results on Tuesday, October 22nd. The transportation company reported $4.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.13). Herc had a net margin of 10.09% and a return on equity of 26.35%. The company had revenue of $965.00 million for the quarter, compared to analyst estimates of $931.33 million. During the same quarter in the previous year, the firm earned $4.00 EPS. The firm’s revenue was up 6.3% on a year-over-year basis. Research analysts expect that Herc will post 13.59 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on HRI. Barclays increased their price target on Herc from $175.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their target price on Herc from $200.00 to $240.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group boosted their price target on shares of Herc from $178.00 to $204.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Herc presently has a consensus rating of “Hold” and an average target price of $212.25.

Insider Activity

In other Herc news, Director Michael A. Kelly sold 3,880 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $208.83, for a total value of $810,260.40. Following the transaction, the director now owns 13,774 shares of the company’s stock, valued at approximately $2,876,424.42. The trade was a 21.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Samuel Wade Sheek sold 5,000 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $213.12, for a total value of $1,065,600.00. Following the completion of the transaction, the senior vice president now owns 21,586 shares of the company’s stock, valued at $4,600,408.32. This trade represents a 18.81 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

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.