Herc (NYSE:HRI) Releases Quarterly Earnings Results, Misses Estimates By $0.13 EPS

Herc (NYSE:HRI) released its quarterly earnings results on Tuesday. The transportation company reported $4.35 EPS for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.13), RTT News reports. The business had revenue of $965.00 million for the quarter, compared to the consensus estimate of $931.33 million. Herc had a return on equity of 26.99% and a net margin of 10.00%. Herc’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business posted $4.00 earnings per share.

Herc Stock Performance

Shares of Herc stock remained flat at $209.23 during trading on Friday. The stock had a trading volume of 45,714 shares, compared to its average volume of 239,086. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 2.91. Herc has a 12 month low of $102.32 and a 12 month high of $214.16. The stock has a market cap of $5.94 billion, a P/E ratio of 17.27, a P/E/G ratio of 1.00 and a beta of 2.07. The company has a fifty day simple moving average of $154.29 and a 200-day simple moving average of $147.24.

Herc Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were paid a $0.665 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $2.66 annualized dividend and a dividend yield of 1.27%. Herc’s payout ratio is 21.97%.

Insider Activity at Herc

In other Herc news, COO Aaron Birnbaum sold 10,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $146.71, for a total transaction of $1,467,100.00. Following the completion of the transaction, the chief operating officer now owns 38,232 shares of the company’s stock, valued at approximately $5,609,016.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Herc news, COO Aaron Birnbaum sold 10,000 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $146.71, for a total transaction of $1,467,100.00. Following the sale, the chief operating officer now owns 38,232 shares of the company’s stock, valued at approximately $5,609,016.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Tamir Peres sold 5,821 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $159.03, for a total transaction of $925,713.63. Following the transaction, the senior vice president now owns 35,415 shares of the company’s stock, valued at $5,632,047.45. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on HRI. Barclays raised their target price on shares of Herc from $175.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday. StockNews.com lowered Herc from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. The Goldman Sachs Group upped their target price on Herc from $178.00 to $204.00 and gave the company a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. raised their price target on Herc from $200.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $155.00 price target on shares of Herc in a research note on Tuesday, July 23rd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Herc has a consensus rating of “Hold” and an average price target of $199.80.

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.