$418.80 Million in Sales Expected for Herc Holdings Inc. (HRI) This Quarter
Analysts expect Herc Holdings Inc. (NYSE:HRI) to announce sales of $418.80 million for the current quarter, according to Zacks. Two analysts have made estimates for Herc Holdings’ earnings, with the highest sales estimate coming in at $420.60 million and the lowest estimate coming in at $417.00 million. Herc Holdings posted sales of $403.60 million during the same quarter last year, which suggests a positive year over year growth rate of 3.8%. The business is scheduled to issue its next quarterly earnings results on Tuesday, November 14th.
According to Zacks, analysts expect that Herc Holdings will report full-year sales of $418.80 million for the current financial year, with estimates ranging from $1.59 billion to $1.65 billion. For the next fiscal year, analysts anticipate that the company will post sales of $1.68 billion per share, with estimates ranging from $1.66 billion to $1.70 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Herc Holdings.
Herc Holdings (NYSE:HRI) last announced its earnings results on Tuesday, August 8th. The transportation company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.25. The firm had revenue of $416 million for the quarter, compared to analysts’ expectations of $397 million. Herc Holdings had a negative net margin of 4.82% and a negative return on equity of 9.52%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.28) EPS.
HRI has been the topic of several research reports. Zacks Investment Research raised shares of Herc Holdings from a “sell” rating to a “hold” rating and set a $52.00 price target on the stock in a research note on Wednesday, May 3rd. Sidoti downgraded shares of Herc Holdings from a “buy” rating to a “neutral” rating in a research note on Thursday, May 18th. ValuEngine raised shares of Herc Holdings from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. Finally, MKM Partners reissued a “buy” rating and issued a $22.00 price target on shares of Herc Holdings in a research note on Friday, July 7th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Herc Holdings has an average rating of “Hold” and a consensus price target of $45.00.
Shares of Herc Holdings (NYSE HRI) opened at 36.73 on Friday. Herc Holdings has a 12 month low of $28.66 and a 12 month high of $52.96. The stock’s 50 day moving average is $42.82 and its 200 day moving average is $44.21. The stock’s market capitalization is $1.04 billion.
In related news, COO James Bruce Dressel purchased 5,000 shares of the company’s stock in a transaction on Monday, May 22nd. The stock was acquired at an average cost of $35.61 per share, for a total transaction of $178,050.00. Following the completion of the transaction, the chief operating officer now directly owns 38,902 shares in the company, valued at $1,385,300.22. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Carl C. Icahn purchased 109,249 shares of the company’s stock in a transaction on Friday, August 11th. The shares were bought at an average price of $38.95 per share, with a total value of $4,255,248.55. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 116,749 shares of company stock valued at $4,530,849. Company insiders own 0.12% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Segantii Capital Management Ltd bought a new stake in shares of Herc Holdings during the first quarter worth $154,000. Quantbot Technologies LP bought a new stake in shares of Herc Holdings during the second quarter worth $183,000. Utah Retirement Systems bought a new stake in shares of Herc Holdings during the first quarter worth $214,000. Princeton Alpha Management LP bought a new stake in shares of Herc Holdings during the first quarter worth $226,000. Finally, Trexquant Investment LP bought a new stake in shares of Herc Holdings during the second quarter worth $229,000. Institutional investors and hedge funds own 99.74% of the company’s stock.
Herc Holdings Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Herc Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Herc Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.