Herc (HRI) Releases Quarterly Earnings Results, Beats Estimates By $0.67 EPS

Herc (NYSE:HRI) posted its earnings results on Thursday. The transportation company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.67, MarketWatch Earnings reports. The firm had revenue of $516.20 million during the quarter, compared to the consensus estimate of $499.86 million. Herc had a net margin of 11.61% and a return on equity of 3.55%. The company’s revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the company earned $0.45 earnings per share.

Shares of HRI remained flat at $$38.04 during trading hours on Friday. 646,088 shares of the stock traded hands, compared to its average volume of 386,025. The stock has a market capitalization of $978.54 million, a P/E ratio of -118.88 and a beta of 2.73. The company has a debt-to-equity ratio of 4.48, a current ratio of 0.84 and a quick ratio of 0.80. Herc has a 52-week low of $30.60 and a 52-week high of $72.99.

Several institutional investors and hedge funds have recently bought and sold shares of HRI. Tower Research Capital LLC TRC bought a new position in shares of Herc in the second quarter valued at approximately $118,000. Gilder Gagnon Howe & Co. LLC boosted its position in shares of Herc by 138.7% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 3,581 shares of the transportation company’s stock valued at $202,000 after acquiring an additional 2,081 shares during the period. Natixis bought a new position in shares of Herc in the second quarter valued at approximately $203,000. Xact Kapitalforvaltning AB bought a new position in shares of Herc in the first quarter valued at approximately $238,000. Finally, Sun Life Financial INC bought a new position in shares of Herc in the second quarter valued at approximately $213,000. Hedge funds and other institutional investors own 94.37% of the company’s stock.

Several research firms have recently weighed in on HRI. ValuEngine downgraded shares of Herc from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. Zacks Investment Research downgraded shares of Herc from a “buy” rating to a “hold” rating in a research note on Tuesday, August 14th. Northcoast Research upgraded shares of Herc from a “neutral” rating to a “buy” rating and set a $49.00 target price for the company in a research note on Monday, October 22nd. They noted that the move was a valuation call. Barclays set a $60.00 target price on shares of Herc and gave the stock a “buy” rating in a research note on Friday. Finally, Royal Bank of Canada reduced their target price on shares of Herc to $60.00 and set an “outperform” rating for the company in a research note on Friday. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. Herc has an average rating of “Hold” and a consensus price target of $59.14.

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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.

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Earnings History for Herc (NYSE:HRI)

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