Herc Holdings Inc. (NYSE:HRI) Declares Quarterly Dividend of $0.70

Herc Holdings Inc. (NYSE:HRI - Get Free Report) declared a quarterly dividend on Tuesday, February 4th,Wall Street Journal reports. Investors 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 dividend yield of 1.37%. 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. Equities 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 Down 2.1 %

HRI traded down $4.38 during trading on Friday, hitting $205.01. 140,002 shares of the company's stock were exchanged, compared to its average volume of 275,636. Herc has a fifty-two week low of $124.70 and a fifty-two week high of $246.88. The stock has a market cap of $5.82 billion, a P/E ratio of 16.76, a PEG ratio of 1.08 and a beta of 2.04. The business's 50 day moving average is $200.92 and its two-hundred day moving average is $181.04. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 2.89.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HRI. The Goldman Sachs Group upped 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. JPMorgan Chase & Co. lifted their target price on Herc from $200.00 to $240.00 and gave the company a "neutral" rating in a research report on Wednesday, October 23rd. Finally, Barclays increased their price target on Herc from $175.00 to $250.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target 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.