Herc Holdings Inc. (HRI) to Issue Quarterly Dividend of $0.70 on March 4th

Herc Holdings Inc. (NYSE:HRI) declared a quarterly dividend on Tuesday, February 4th,Wall Street Journal reports. Stockholders of record on Tuesday, February 18th will be given a dividend of 0.70 per share by the transportation company on Tuesday, March 4th. This represents a $2.80 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Tuesday, February 18th. This is a positive change from Herc’s previous quarterly dividend of $0.67.

Herc has raised its dividend by an average of 74.6% annually over the last three years. Herc has a payout ratio of 15.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Herc to earn $15.09 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 18.6%.

Herc Stock Performance

NYSE HRI opened at $201.12 on Friday. The company has a market cap of $5.71 billion, a P/E ratio of 16.44, a P/E/G ratio of 1.08 and a beta of 2.04. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.22 and a current ratio of 1.22. The business’s 50 day moving average price is $198.29 and its 200-day moving average price is $182.82. Herc has a fifty-two week low of $124.70 and a fifty-two week high of $246.88.

Herc (NYSE:HRI) last released its earnings results on Thursday, February 13th. The transportation company reported $3.58 earnings per share for the quarter, missing the consensus estimate of $3.98 by ($0.40). Herc had a net margin of 10.09% and a return on equity of 26.35%. The company had revenue of $934.00 million for the quarter, compared to the consensus estimate of $919.84 million. Sell-side analysts predict that Herc will post 13.48 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on HRI. Barclays boosted their price objective on Herc from $175.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group boosted their price objective on Herc from $204.00 to $234.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. boosted their price objective on Herc from $200.00 to $240.00 and gave the company a “neutral” rating in a report 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. Based on data from MarketBeat, Herc presently has an average rating of “Hold” and an average target price of $219.75.

About Herc

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.