Herc Holdings Inc. (NYSE:HRI) to Issue Quarterly Dividend of $0.70

Key Points

• Herc Holdings Inc. announced a quarterly dividend of $0.70 per share, with an annual yield of 2.5%, payable on September 5th to investors of record on August 22nd.
• The company's dividend payout ratio is 18.6%, indicating that its dividend is well-supported by earnings, with expected earnings of $15.12 per share next year.
• Shares of Herc traded down 0.6% to $110.84, with a market capitalization of $3.68 billion and a price-to-earnings ratio of 128.62.

Herc Holdings Inc. (NYSE:HRI - Get Free Report) announced a quarterly dividend on Friday, August 8th, RTT News reports. Stockholders of record on Friday, August 22nd will be given a dividend of 0.70 per share by the transportation company on Friday, September 5th. This represents a c) annualized dividend and a dividend yield of 2.5%.

Herc has a payout ratio of 18.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Herc to earn $15.12 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 18.5%.

Herc Price Performance

Shares of NYSE HRI traded down $1.06 during midday trading on Friday, hitting $110.44. The company had a trading volume of 336,666 shares, compared to its average volume of 631,069. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 4.37. Herc has a twelve month low of $96.18 and a twelve month high of $246.88. The business has a 50-day simple moving average of $127.59 and a two-hundred day simple moving average of $138.09. The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of 128.42, a price-to-earnings-growth ratio of 1.30 and a beta of 1.86.

Herc (NYSE:HRI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.87 EPS for the quarter, beating the consensus estimate of $1.29 by $0.58. Herc had a net margin of 0.61% and a return on equity of 20.77%. The firm had revenue of $1 billion during the quarter, compared to analysts' expectations of $868.23 million. Equities research analysts anticipate that Herc will post 12.84 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Citigroup cut their target price on shares of Herc from $170.00 to $140.00 and set a "buy" rating for the company in a research report on Wednesday, July 30th. JPMorgan Chase & Co. decreased their price objective on shares of Herc from $225.00 to $140.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Robert W. Baird decreased their price objective on shares of Herc from $142.00 to $137.00 and set a "neutral" rating for the company in a research note on Wednesday, July 30th. The Goldman Sachs Group restated a "buy" rating and issued a $146.00 target price (down from $171.00) on shares of Herc in a research note on Tuesday, April 22nd. Finally, Barclays reduced their price objective on shares of Herc from $250.00 to $160.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Herc presently has an average rating of "Moderate Buy" and an average price target of $144.60.

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.