HireQuest, Inc. (NASDAQ:HQI) Announces Quarterly Dividend of $0.06

HireQuest, Inc. (NASDAQ:HQI) declared a quarterly dividend on Tuesday, May 5th. Investors of record on Monday, June 1st will be paid a dividend of 0.06 per share on Monday, June 15th. This represents a c) annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Monday, June 1st.

HireQuest has increased its dividend by an average of 0.2%per year over the last three years. HireQuest has a payout ratio of 42.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect HireQuest to earn $0.61 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 39.3%.

HireQuest Price Performance

Shares of HQI opened at $13.15 on Friday. The business’s fifty day moving average price is $11.15 and its 200 day moving average price is $10.52. HireQuest has a 12-month low of $7.38 and a 12-month high of $13.39. The stock has a market capitalization of $182.79 million, a PE ratio of 28.59 and a beta of 1.08.

HireQuest (NASDAQ:HQI) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.02. HireQuest had a return on equity of 14.90% and a net margin of 21.98%.The firm had revenue of $6.52 million for the quarter, compared to analysts’ expectations of $6.75 million. As a group, research analysts anticipate that HireQuest will post 0.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On HireQuest

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in HireQuest by 4.4% in the third quarter. Vanguard Group Inc. now owns 293,013 shares of the company’s stock valued at $2,819,000 after buying an additional 12,246 shares during the last quarter. Geode Capital Management LLC lifted its stake in HireQuest by 4.3% in the second quarter. Geode Capital Management LLC now owns 139,141 shares of the company’s stock valued at $1,393,000 after buying an additional 5,685 shares during the last quarter. State Street Corp lifted its stake in HireQuest by 1.9% in the fourth quarter. State Street Corp now owns 76,866 shares of the company’s stock valued at $808,000 after buying an additional 1,451 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in HireQuest by 67.8% in the second quarter. Russell Investments Group Ltd. now owns 26,303 shares of the company’s stock valued at $263,000 after buying an additional 10,627 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in HireQuest by 158.0% in the fourth quarter. Deutsche Bank AG now owns 10,945 shares of the company’s stock valued at $115,000 after buying an additional 6,702 shares during the last quarter. 12.00% of the stock is currently owned by institutional investors.

About HireQuest

HireQuest, Inc is a publicly traded holding company that provides equipment rental and workforce solutions across North America through two primary operating subsidiaries. Its Coast Equipment Rentals division offers a broad range of support equipment—such as pumps, trench safety systems, power and HVAC units, air compressors, light towers and generators—to the construction, industrial, municipal and environmental markets. Coast Equipment Rentals operates more than 135 branch locations in 36 U.S.