Zacks: Brokerages Anticipate Herc Holdings Inc. (HRI) Will Announce Earnings of $0.80 Per Share

Brokerages expect that Herc Holdings Inc. (NYSE:HRI) will report $0.80 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Herc’s earnings. Herc posted earnings of $0.47 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 70.2%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, February 27th.

According to Zacks, analysts expect that Herc will report full year earnings of $1.36 per share for the current financial year, with EPS estimates ranging from $1.35 to $1.36. For the next fiscal year, analysts forecast that the company will report earnings of $2.33 per share, with EPS estimates ranging from $2.15 to $2.50. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Herc.

Herc (NYSE:HRI) last released its earnings results on Thursday, November 8th. The transportation company reported $1.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.67. Herc had a net margin of 11.61% and a return on equity of 3.55%. The business had revenue of $516.20 million during the quarter, compared to analysts’ expectations of $499.86 million. During the same quarter last year, the company earned $0.45 earnings per share. The firm’s revenue was up 12.8% on a year-over-year basis.

Several research firms recently weighed in on HRI. Royal Bank of Canada reduced their target price on shares of Herc to $60.00 and set an “outperform” rating for the company in a research note on Friday. Barclays set a $60.00 target price on shares of Herc and gave the company a “buy” rating in a research note on Friday. Northcoast Research upgraded shares of Herc from a “neutral” rating to a “buy” rating and set a $49.00 target price for the company in a research note on Monday, October 22nd. They noted that the move was a valuation call. ValuEngine cut shares of Herc from a “hold” rating to a “sell” rating in a research note on Thursday, October 11th. Finally, Zacks Investment Research cut shares of Herc from a “buy” rating to a “hold” rating in a research note on Tuesday, August 14th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. Herc currently has a consensus rating of “Hold” and a consensus price target of $59.14.

NYSE HRI opened at $38.04 on Wednesday. The company has a debt-to-equity ratio of 4.48, a current ratio of 0.84 and a quick ratio of 0.80. Herc has a twelve month low of $30.60 and a twelve month high of $72.99. The stock has a market capitalization of $978.54 million, a P/E ratio of -118.88 and a beta of 2.73.

A number of institutional investors and hedge funds have recently made changes to their positions in HRI. Xact Kapitalforvaltning AB bought a new position in Herc during the first quarter worth about $238,000. Cohen Capital Management Inc. lifted its stake in Herc by 4.9% during the second quarter. Cohen Capital Management Inc. now owns 54,550 shares of the transportation company’s stock worth $3,073,000 after purchasing an additional 2,550 shares during the period. Massachusetts Financial Services Co. MA bought a new position in Herc during the second quarter worth about $1,475,000. Daiwa Securities Group Inc. lifted its stake in Herc by 91.9% during the second quarter. Daiwa Securities Group Inc. now owns 68,300 shares of the transportation company’s stock worth $3,848,000 after purchasing an additional 32,700 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC lifted its stake in Herc by 138.7% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 3,581 shares of the transportation company’s stock worth $202,000 after purchasing an additional 2,081 shares during the period. Hedge funds and other institutional investors own 94.37% of the company’s stock.

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.

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Earnings History and Estimates for Herc (NYSE:HRI)

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