Wall Street brokerages expect Herc Holdings Inc. (NYSE:HRI) to post sales of $418.80 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Herc Holdings’ earnings, with estimates ranging from $417.00 million to $420.60 million. Herc Holdings posted sales of $403.60 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.8%. The company is scheduled to report its next earnings report 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 firm will report sales of $1.68 billion per share, with estimates ranging from $1.66 billion to $1.71 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow Herc Holdings.
Herc Holdings (NYSE:HRI) last released its earnings results on Tuesday, August 8th. The transportation company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.25. The company had revenue of $416.00 million for the quarter, compared to analyst estimates of $397.00 million. Herc Holdings had a negative return on equity of 9.52% and a negative net margin of 4.82%. Herc Holdings’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.28) EPS.
A number of equities analysts have weighed in on the company. ValuEngine upgraded Herc Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. Zacks Investment Research upgraded Herc Holdings from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research note on Wednesday, October 4th. Finally, MKM Partners reiterated a “buy” rating and issued a $22.00 price objective on shares of Herc Holdings in a report on Friday, July 7th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Herc Holdings has a consensus rating of “Hold” and an average target price of $45.71.
Herc Holdings (NYSE:HRI) traded up 0.04% during mid-day trading on Friday, reaching $49.10. The company had a trading volume of 81,768 shares. The stock’s market capitalization is $1.39 billion. The stock has a 50 day moving average price of $46.71 and a 200-day moving average price of $43.22. Herc Holdings has a 12-month low of $28.66 and a 12-month high of $52.96.
In related news, major shareholder Carl C. Icahn bought 109,249 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was bought at an average cost of $38.95 per share, for a total transaction of $4,255,248.55. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO James Bruce Dressel bought 2,500 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were bought at an average price of $39.02 per share, with a total value of $97,550.00. Following the completion of the acquisition, the chief operating officer now directly owns 41,402 shares in the company, valued at $1,615,506.04. The disclosure for this purchase can be found here. 0.12% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of HRI. Private Advisor Group LLC lifted its holdings in Herc Holdings by 3.8% in the 2nd quarter. Private Advisor Group LLC now owns 7,964 shares of the transportation company’s stock worth $323,000 after buying an additional 288 shares during the period. Hosking Partners LLP lifted its holdings in Herc Holdings by 1.8% in the 2nd quarter. Hosking Partners LLP now owns 17,967 shares of the transportation company’s stock worth $706,000 after buying an additional 311 shares during the period. Teton Advisors Inc. lifted its holdings in Herc Holdings by 12.0% in the 2nd quarter. Teton Advisors Inc. now owns 14,000 shares of the transportation company’s stock worth $550,000 after buying an additional 1,500 shares during the period. Swiss National Bank lifted its holdings in Herc Holdings by 4.2% in the 1st quarter. Swiss National Bank now owns 39,546 shares of the transportation company’s stock worth $1,933,000 after buying an additional 1,600 shares during the period. Finally, BlueCrest Capital Management Ltd lifted its holdings in Herc Holdings by 34.7% in the 1st 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 during the period. Institutional investors own 96.72% of the company’s stock.
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About Herc Holdings
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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