Herc Holdings Inc. (NYSE:HRI) Announces Dividend Increase – $0.70 Per Share

Herc Holdings Inc. (NYSE:HRI) announced a quarterly dividend on Tuesday, February 4th,Wall Street Journal reports. Shareholders 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 yield of 1.36%. The ex-dividend date is Tuesday, February 18th. This is a boost from Herc’s previous quarterly dividend of $0.67.

Herc has increased its dividend by an average of 74.6% per year over the last three years. Herc has a payout ratio of 15.8% meaning its dividend is sufficiently covered by earnings. 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 HRI opened at $205.82 on Thursday. The firm has a market cap of $5.85 billion, a P/E ratio of 16.83, a P/E/G ratio of 1.06 and a beta of 2.04. The stock has a 50 day simple moving average of $202.35 and a two-hundred day simple moving average of $180.05. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.22 and a quick ratio of 1.22. Herc has a 1 year low of $124.70 and a 1 year high of $246.88.

Wall Street Analysts Forecast Growth

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