HireQuest (NASDAQ:HQI) Announces Quarterly Earnings Results

by · The Cerbat Gem

HireQuest (NASDAQ:HQI – Get Free Report) announced its quarterly earnings data on Tuesday. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.02, FiscalAI reports. HireQuest had a return on equity of 14.41% and a net margin of 20.66%.The business had revenue of $6.52 million during the quarter, compared to analyst estimates of $6.75 million.

HireQuest Trading Down 2.3%

Shares of NASDAQ HQI traded down $0.27 during mid-day trading on Tuesday, hitting $11.39. The company had a trading volume of 27,974 shares, compared to its average volume of 22,227. The company has a market capitalization of $158.78 million, a price-to-earnings ratio of 25.31 and a beta of 1.08. HireQuest has a 1 year low of $7.38 and a 1 year high of $12.48. The stock’s 50-day moving average price is $10.74 and its 200-day moving average price is $10.15.

HireQuest Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a $0.06 dividend. The ex-dividend date is Monday, June 1st. This represents a $0.24 annualized dividend and a dividend yield of 2.1%. HireQuest’s payout ratio is 53.33%.

Analyst Ratings Changes

Several equities analysts have weighed in on HQI shares. Barrington Research reissued an “outperform” rating and set a $13.00 price objective on shares of HireQuest in a report on Monday, April 13th. Wall Street Zen raised HireQuest to a “hold” rating in a report on Saturday, January 17th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of HireQuest in a report on Friday, April 10th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, HireQuest currently has a consensus rating of “Moderate Buy” and an average price target of $14.00.

Check Out Our Latest Stock Analysis on HQI

Hedge Funds Weigh In On HireQuest

Hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN grew its position in shares of HireQuest by 47.2% in the fourth quarter. Wells Fargo & Company MN now owns 6,333 shares of the company’s stock valued at $67,000 after purchasing an additional 2,031 shares in the last quarter. Renaissance Technologies LLC bought a new stake in HireQuest during the fourth quarter valued at $112,000. Deutsche Bank AG boosted its stake in HireQuest by 158.0% during 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 period. Russell Investments Group Ltd. boosted its stake in HireQuest by 67.8% during 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 period. Finally, State Street Corp boosted its stake in HireQuest by 1.9% during 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 period. 12.00% of the stock is currently owned by hedge funds and other institutional investors.

HireQuest Company Profile

(Get Free Report)

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.

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