Herc Holdings Inc. (NYSE:HRI) – Investment analysts at KeyCorp raised their Q3 2021 EPS estimates for shares of Herc in a research report issued to clients and investors on Tuesday, September 21st. KeyCorp analyst K. Newman now forecasts that the transportation company will earn $2.34 per share for the quarter, up from their prior forecast of $2.12. KeyCorp currently has a “Overweight” rating and a $175.00 target price on the stock. KeyCorp also issued estimates for Herc’s Q4 2021 earnings at $2.41 EPS, FY2021 earnings at $7.42 EPS and Q4 2022 earnings at $2.88 EPS.
A number of other equities research analysts have also commented on the stock. Robert W. Baird upped their price objective on shares of Herc from $145.00 to $158.00 and gave the company an “outperform” rating in a research note on Monday. TheStreet raised Herc from a “c+” rating to a “b-” rating in a report on Thursday, July 22nd. Zacks Investment Research upgraded shares of Herc from a “hold” rating to a “strong-buy” rating and set a $165.00 target price for the company in a research note on Thursday. Barclays upped their target price on Herc from $128.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, July 23rd. Finally, The Goldman Sachs Group upped their price target on shares of Herc from $125.00 to $143.00 and gave the company a “buy” rating in a research report on Friday, July 23rd. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Herc currently has an average rating of “Buy” and an average target price of $138.17.
Herc (NYSE:HRI) last issued its earnings results on Thursday, July 22nd. The transportation company reported $1.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.33. Herc had a return on equity of 21.16% and a net margin of 8.09%. The company had revenue of $490.90 million during the quarter, compared to the consensus estimate of $456.93 million. During the same period in the previous year, the company posted $0.25 EPS. The firm’s revenue for the quarter was up 33.4% compared to the same quarter last year.
Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Herc by 3.0% during the second quarter. Vanguard Group Inc. now owns 2,334,271 shares of the transportation company’s stock worth $261,601,000 after buying an additional 67,237 shares during the period. Fred Alger Management LLC bought a new stake in Herc during the first quarter valued at about $152,209,000. Alliancebernstein L.P. grew its position in shares of Herc by 120.7% in the 2nd quarter. Alliancebernstein L.P. now owns 1,271,798 shares of the transportation company’s stock worth $142,530,000 after buying an additional 695,606 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Herc by 2.4% in the first quarter. Goldman Sachs Group Inc. now owns 904,214 shares of the transportation company’s stock worth $91,624,000 after purchasing an additional 21,492 shares during the last quarter. Finally, Impax Asset Management Group plc purchased a new position in Herc during the 2nd quarter worth $93,473,000. 96.19% of the stock is owned by hedge funds and other institutional investors.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 4th. Shareholders of record on Wednesday, October 20th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Tuesday, October 19th.
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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