Herc Holdings Inc. (HRI) Releases Quarterly Earnings Results, Beats Estimates By $0.25 EPS
Herc Holdings Inc. (NYSE:HRI) issued its quarterly earnings data on Tuesday. The transportation company reported $0.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.25, Morningstar.com reports. Herc Holdings had a negative return on equity of 7.69% and a negative net margin of 3.69%. The firm had revenue of $416 million during the quarter, compared to the consensus estimate of $397 million. During the same period in the previous year, the firm posted ($0.28) EPS. The company’s quarterly revenue was up 9.4% compared to the same quarter last year.
Herc Holdings (NYSE HRI) opened at 45.50 on Tuesday. The company’s 50 day moving average price is $41.82 and its 200 day moving average price is $44.62. Herc Holdings has a 12 month low of $28.66 and a 12 month high of $52.96. The firm’s market capitalization is $1.29 billion.
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In other Herc Holdings news, COO James Bruce Dressel bought 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The stock was acquired at an average cost of $35.61 per share, with a total value of $178,050.00. Following the completion of the purchase, the chief operating officer now directly owns 38,902 shares in the company, valued at $1,385,300.22. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.12% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Gamco Investors INC. ET AL raised its stake in Herc Holdings by 19.5% in the second quarter. Gamco Investors INC. ET AL now owns 3,526,858 shares of the transportation company’s stock valued at $138,676,000 after buying an additional 575,971 shares in the last quarter. Vanguard Group Inc. raised its stake in Herc Holdings by 3.8% in the first quarter. Vanguard Group Inc. now owns 1,913,699 shares of the transportation company’s stock valued at $93,560,000 after buying an additional 70,727 shares in the last quarter. Gabelli Funds LLC raised its stake in Herc Holdings by 23.8% in the second quarter. Gabelli Funds LLC now owns 1,251,309 shares of the transportation company’s stock valued at $49,201,000 after buying an additional 240,808 shares in the last quarter. Harris Associates L P raised its stake in Herc Holdings by 26.3% in the first quarter. Harris Associates L P now owns 1,178,007 shares of the transportation company’s stock valued at $57,593,000 after buying an additional 245,356 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Herc Holdings by 11.9% in the first quarter. Dimensional Fund Advisors LP now owns 787,022 shares of the transportation company’s stock valued at $38,477,000 after buying an additional 83,525 shares in the last quarter. 96.41% of the stock is owned by institutional investors and hedge funds.
HRI has been the subject of several research reports. Jefferies Group LLC restated a “hold” rating and set a $44.00 price objective on shares of Herc Holdings in a research report on Thursday, April 13th. Zacks Investment Research downgraded Herc Holdings from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 16th. KeyCorp upgraded Herc Holdings from a “sector weight” rating to an “overweight” rating and set a $60.00 price objective for the company in a research report on Monday, April 10th. ValuEngine upgraded Herc Holdings from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Finally, Sidoti downgraded Herc Holdings from a “buy” rating to a “neutral” rating in a research report on Thursday, May 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $45.00.
About Herc Holdings
Herc Holdings Inc is an equipment rental supplier. The Company operates approximately 280 branches, of which approximately 270 are in the United States and Canada. It supplies equipment to the markets, including commercial and residential construction, industrial and manufacturing, refineries and petrochemicals, civil infrastructure, automotive, government and municipalities, energy, remediation, emergency response, facilities, entertainment and agriculture.
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