Herc Holdings Inc. (NYSE:HRI) Expected to Post Q1 2023 Earnings of $2.52 Per Share

Herc Holdings Inc. (NYSE:HRIGet Rating) – KeyCorp lifted their Q1 2023 earnings per share estimates for shares of Herc in a report released on Monday, November 21st. KeyCorp analyst K. Newman now forecasts that the transportation company will earn $2.52 per share for the quarter, up from their previous estimate of $2.26. KeyCorp currently has a “Overweight” rating and a $160.00 target price on the stock. The consensus estimate for Herc’s current full-year earnings is $11.40 per share. KeyCorp also issued estimates for Herc’s Q2 2023 earnings at $3.41 EPS, Q4 2023 earnings at $4.39 EPS and FY2023 earnings at $15.22 EPS.

Several other equities analysts have also recently weighed in on HRI. StockNews.com assumed coverage on Herc in a research report on Wednesday, October 12th. They set a “hold” rating for the company. The Goldman Sachs Group cut their price objective on Herc from $168.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, October 14th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Herc currently has a consensus rating of “Moderate Buy” and a consensus target price of $167.60.

Herc Price Performance

NYSE HRI opened at $132.09 on Thursday. Herc has a twelve month low of $83.43 and a twelve month high of $194.90. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market capitalization of $3.86 billion, a PE ratio of 13.18, a P/E/G ratio of 0.57 and a beta of 2.55. The stock has a 50-day simple moving average of $116.31 and a 200 day simple moving average of $112.00.

Herc (NYSE:HRIGet Rating) last released its quarterly earnings results on Thursday, October 20th. The transportation company reported $3.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.52 by ($0.10). The company had revenue of $745.10 million for the quarter. Herc had a return on equity of 30.20% and a net margin of 12.01%.

Hedge Funds Weigh In On Herc

Hedge funds have recently modified their holdings of the stock. NewSquare Capital LLC acquired a new position in shares of Herc in the 3rd quarter worth approximately $36,000. Lazard Asset Management LLC raised its holdings in shares of Herc by 593.7% in the 2nd quarter. Lazard Asset Management LLC now owns 437 shares of the transportation company’s stock worth $39,000 after buying an additional 374 shares in the last quarter. Bessemer Group Inc. acquired a new position in shares of Herc in the 3rd quarter worth approximately $42,000. PNC Financial Services Group Inc. raised its holdings in shares of Herc by 90.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 315 shares of the transportation company’s stock worth $52,000 after buying an additional 150 shares in the last quarter. Finally, Captrust Financial Advisors raised its holdings in shares of Herc by 152.5% in the 2nd quarter. Captrust Financial Advisors now owns 803 shares of the transportation company’s stock worth $72,000 after buying an additional 485 shares in the last quarter. 94.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Herc

In other Herc news, major shareholder Carl C. Icahn sold 5,432 shares of the company’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $133.39, for a total value of $724,574.48. Following the completion of the transaction, the insider now owns 3,945,603 shares of the company’s stock, valued at approximately $526,303,984.17. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Herc news, major shareholder Carl C. Icahn sold 39,700 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $132.99, for a total value of $5,279,703.00. Following the completion of the transaction, the insider now owns 3,975,421 shares of the company’s stock, valued at approximately $528,691,238.79. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Carl C. Icahn sold 5,432 shares of the company’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $133.39, for a total value of $724,574.48. Following the completion of the transaction, the insider now directly owns 3,945,603 shares of the company’s stock, valued at approximately $526,303,984.17. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Herc Company Profile

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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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