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

Herc Holdings Inc. (NYSE:HRI) announced a quarterly dividend on Tuesday, February 4th,Wall Street Journal reports. Stockholders of record on Tuesday, February 18th will be paid 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 1.36%. 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 Stock Up 0.9 %

Shares of NYSE:HRI traded up $1.75 during midday trading on Wednesday, hitting $205.82. 192,751 shares of the company’s stock were exchanged, compared to its average volume of 290,780. Herc has a 12 month low of $124.70 and a 12 month high of $246.88. The company has a market cap of $5.85 billion, a PE ratio of 16.83, a price-to-earnings-growth ratio of 1.06 and a beta of 2.04. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a 50 day moving average price of $202.35 and a 200-day moving average price of $180.05.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on HRI shares. JPMorgan Chase & Co. raised their price target on Herc from $200.00 to $240.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group increased their target price on shares of Herc from $204.00 to $234.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, Barclays raised their target price on shares of Herc from $175.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Herc presently has an average rating of “Hold” and a consensus target price of $219.75.

Herc Company Profile

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.