Brokerages forecast that Herc Holdings Inc. (NYSE:HRI) will post sales of $394.80 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Herc Holdings’ earnings, with the lowest sales estimate coming in at $392.00 million and the highest estimate coming in at $397.60 million. Herc Holdings reported sales of $380.40 million in the same quarter last year, which would suggest a positive year over year growth rate of 3.8%. The business is expected to announce its next quarterly earnings report on Tuesday, August 8th.
According to Zacks, analysts expect that Herc Holdings will report full year sales of $394.80 million for the current financial year, with estimates ranging from $1.59 billion to $1.63 billion. For the next financial year, analysts anticipate that the business 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 sell-side analysts that that provide coverage for Herc Holdings.
Herc Holdings (NYSE:HRI) last issued its quarterly earnings results on Tuesday, May 9th. The transportation company reported ($1.10) EPS for the quarter, missing the consensus estimate of ($0.32) by $0.78. Herc Holdings had a negative return on equity of 7.69% and a negative net margin of 3.69%. The business had revenue of $389.40 million for the quarter, compared to analyst estimates of $366.74 million. The company’s revenue for the quarter was up 6.5% on a year-over-year basis.
Several research firms have recently issued reports on HRI. Zacks Investment Research raised Herc Holdings from a “strong sell” rating to a “hold” rating in a research note on Wednesday. MKM Partners reissued a “buy” rating and set a $22.00 target price on shares of Herc Holdings in a research report on Friday, July 7th. ValuEngine raised shares of Herc Holdings from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Sidoti downgraded shares of Herc Holdings from a “buy” rating to a “neutral” rating in a research report on Thursday, May 18th. Finally, KeyCorp raised shares of Herc Holdings from a “sector weight” rating to an “overweight” rating and set a $60.00 target price for the company in a research report on Monday, April 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $45.00.
In other news, COO James Bruce Dressel bought 5,000 shares of the firm’s stock in a transaction on Monday, May 22nd. The stock was acquired at an average price of $35.61 per share, with a total value of $178,050.00. Following the transaction, the chief operating officer now owns 38,902 shares of the company’s stock, valued at approximately $1,385,300.22. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.12% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in HRI. Norman Fields Gottscho Capital Management LLC increased its stake in Herc Holdings by 3.0% in the second quarter. Norman Fields Gottscho Capital Management LLC now owns 70,627 shares of the transportation company’s stock worth $2,777,000 after buying an additional 2,037 shares in the last quarter. FNY Partners Fund LP purchased a new stake in Herc Holdings during the first quarter worth $488,000. Credit Suisse AG increased its stake in Herc Holdings by 47.9% in the first quarter. Credit Suisse AG now owns 77,428 shares of the transportation company’s stock worth $3,786,000 after buying an additional 25,066 shares in the last quarter. AQR Capital Management LLC increased its stake in Herc Holdings by 51.7% in the first quarter. AQR Capital Management LLC now owns 394,989 shares of the transportation company’s stock worth $19,311,000 after buying an additional 134,683 shares in the last quarter. Finally, BlueCrest Capital Management Ltd increased its stake in Herc Holdings by 34.7% in the first quarter. BlueCrest Capital Management Ltd now owns 7,305 shares of the transportation company’s stock worth $357,000 after buying an additional 1,883 shares in the last quarter. 96.72% of the stock is owned by institutional investors and hedge funds.
Shares of Herc Holdings (HRI) traded up 1.42% during midday trading on Friday, hitting $45.01. 318,320 shares of the stock traded hands. The company’s market capitalization is $1.27 billion. The firm’s 50-day moving average is $37.99 and its 200 day moving average is $44.05. Herc Holdings has a 52 week low of $28.66 and a 52 week high of $52.96.
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.
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