Heidrick & Struggles International (HSII) Trading Up 23.9% on Strong Earnings

Heidrick & Struggles International, Inc. (NASDAQ:HSII)’s share price was up 23.9% during mid-day trading on Tuesday following a better than expected earnings announcement. The stock traded as high as $39.69 and last traded at $36.37. Approximately 501,002 shares traded hands during mid-day trading, an increase of 234% from the average daily volume of 149,927 shares. The stock had previously closed at $29.36.

The business services provider reported $0.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.37. The business had revenue of $192.34 million during the quarter, compared to analyst estimates of $175.81 million. Heidrick & Struggles International had a positive return on equity of 18.01% and a negative net margin of 0.15%.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Friday, November 9th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Thursday, November 8th. Heidrick & Struggles International’s payout ratio is 47.71%.

Several research analysts have recently commented on the company. ValuEngine raised Heidrick & Struggles International from a “hold” rating to a “buy” rating in a report on Wednesday. Zacks Investment Research lowered Heidrick & Struggles International from a “buy” rating to a “hold” rating in a report on Wednesday, October 3rd. TheStreet lowered Heidrick & Struggles International from a “b-” rating to a “c+” rating in a report on Friday, September 28th. BidaskClub lowered Heidrick & Struggles International from a “sell” rating to a “strong sell” rating in a report on Monday, September 17th. Finally, Credit Suisse Group assumed coverage on Heidrick & Struggles International in a report on Friday, August 10th. They set a “neutral” rating and a $40.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $41.75.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its position in Heidrick & Struggles International by 8.4% in the 2nd quarter. BlackRock Inc. now owns 2,662,561 shares of the business services provider’s stock worth $93,189,000 after buying an additional 205,788 shares during the last quarter. Renaissance Technologies LLC lifted its position in Heidrick & Struggles International by 24.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,467,239 shares of the business services provider’s stock worth $51,353,000 after buying an additional 292,839 shares during the last quarter. Acadian Asset Management LLC lifted its position in Heidrick & Struggles International by 165.9% in the 2nd quarter. Acadian Asset Management LLC now owns 381,433 shares of the business services provider’s stock worth $13,347,000 after buying an additional 237,992 shares during the last quarter. Millennium Management LLC lifted its position in Heidrick & Struggles International by 26.3% in the 2nd quarter. Millennium Management LLC now owns 381,219 shares of the business services provider’s stock worth $13,343,000 after buying an additional 79,270 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new stake in Heidrick & Struggles International in the 2nd quarter worth approximately $9,475,000. 89.79% of the stock is owned by institutional investors.

The stock has a market capitalization of $549.61 million, a price-to-earnings ratio of 31.66, a P/E/G ratio of 1.08 and a beta of 1.64.

About Heidrick & Struggles International (NASDAQ:HSII)

Heidrick & Struggles International, Inc engages in provision of leadership consulting, culture shaping and senior-level executive search services. It offers its clients build leadership teams through facilitating the recruitment, management and deployment of senior executives. The company was founded by Gardner Heidrick and John Struggles in 1953 and is headquartered in Chicago, IL.

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