Herc Holdings Inc. (NYSE:HRI) Plans 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 dividend on an annualized basis and a 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 increased its dividend by an average of 74.6% per year over the last three years. Herc has a dividend payout ratio of 15.8% meaning 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 Performance

Shares of HRI stock traded up $1.75 during mid-day trading on Wednesday, reaching $205.82. 192,751 shares of the company’s stock traded hands, compared to its average volume of 290,780. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market capitalization 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. Herc has a 12 month low of $124.70 and a 12 month high of $246.88. The firm has a 50 day moving average price of $202.35 and a two-hundred day moving average price of $180.05.

Analyst Ratings Changes

HRI has been the subject of a number of recent research reports. Barclays boosted 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. The Goldman Sachs Group boosted their price objective on Herc from $204.00 to $234.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, JPMorgan Chase & Co. raised their target price on shares of Herc from $200.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $219.75.

About Herc

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.