Herc Holdings Inc. (NYSE:HRI) Increases Dividend to $0.70 Per Share

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 of this dividend is Tuesday, February 18th. This is a boost 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. 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 Trading Up 3.0 %

HRI opened at $201.12 on Friday. The firm has a market cap of $5.71 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 1.08 and a beta of 2.04. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 2.89. Herc has a 12 month low of $124.70 and a 12 month high of $246.88. The stock has a fifty day moving average price of $198.29 and a 200-day moving average price of $182.82.

Herc (NYSE:HRI) last announced its earnings results on Thursday, February 13th. The transportation company reported $3.58 earnings per share (EPS) 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 business had revenue of $934.00 million for the quarter, compared to analyst estimates of $919.84 million. As a group, equities research analysts anticipate that Herc will post 13.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

HRI has been the topic of several recent analyst reports. The Goldman Sachs Group upped their target price on Herc from $204.00 to $234.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. increased 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. Finally, Barclays increased 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. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus 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.