HireQuest (NASDAQ:HQI) Announces Earnings Results

Key Points

• HireQuest reported quarterly EPS of $0.23, beating analysts’ consensus estimate of $0.13 by $0.10. The company posted a 21.98% net margin and 14.90% return on equity.
• Shares rose to $13.57 in Monday trading, near their 52-week high of $14.53. The stock has a market capitalization of approximately $188.6 million and a price-to-earnings ratio of 29.5.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and a $15 average price target; institutional investors own about 12% of the company.

HireQuest (NASDAQ:HQI - Get Free Report) announced its earnings results on Monday. The company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.10, FiscalAI reports. HireQuest had a net margin of 21.98% and a return on equity of 14.90%.

HireQuest Price Performance

NASDAQ HQI traded up $0.29 during mid-day trading on Monday, reaching $13.57. The stock had a trading volume of 11,066 shares, compared to its average volume of 19,575. The stock has a market cap of $188.62 million, a PE ratio of 29.50 and a beta of 1.11. HireQuest has a 1 year low of $7.38 and a 1 year high of $14.53. The company has a fifty day moving average price of $12.89 and a 200 day moving average price of $11.76.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. DA Davidson restated a "buy" rating and issued a $15.00 price target on shares of HireQuest in a research note on Wednesday, May 13th. Barrington Research increased their target price on HireQuest from $13.00 to $15.00 and gave the stock an "outperform" rating in a research note on Monday, May 18th. Finally, Weiss Ratings upgraded HireQuest from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, July 13th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $15.00.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN increased its holdings in HireQuest by 47.2% in the 4th quarter. Wells Fargo & Company MN now owns 6,333 shares of the company's stock worth $67,000 after buying an additional 2,031 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of HireQuest during the 4th quarter valued at about $112,000. Deutsche Bank AG boosted its holdings in shares of HireQuest by 158.0% during the 4th quarter. Deutsche Bank AG now owns 10,945 shares of the company's stock valued at $115,000 after acquiring an additional 6,702 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of HireQuest by 67.8% during the second quarter. Russell Investments Group Ltd. now owns 26,303 shares of the company's stock valued at $263,000 after purchasing an additional 10,627 shares during the last quarter. Finally, State Street Corp lifted its position in HireQuest by 1.9% during the fourth quarter. State Street Corp now owns 76,866 shares of the company's stock valued at $808,000 after purchasing an additional 1,451 shares during the period. Hedge funds and other institutional investors own 12.00% of the company's stock.

About HireQuest

HireQuest, Inc is a publicly traded holding company that provides equipment rental and workforce solutions across North America through two primary operating subsidiaries. Its Coast Equipment Rentals division offers a broad range of support equipment—such as pumps, trench safety systems, power and HVAC units, air compressors, light towers and generators—to the construction, industrial, municipal and environmental markets. Coast Equipment Rentals operates more than 135 branch locations in 36 U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source