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

HireQuest, Inc. (NASDAQ:HQI) declared a quarterly dividend on Thursday, August 13th. Stockholders of record on Thursday, September 10th will be given a dividend of 0.06 per share on Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Thursday, September 10th.

HireQuest has increased its dividend payment 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. Equities analysts expect HireQuest to earn $0.56 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 42.9%.

HireQuest Stock Up 6.4%

HQI stock opened at $17.71 on Friday. The stock has a market cap of $246.17 million, a PE ratio of 31.07 and a beta of 1.11. The firm’s 50-day simple moving average is $13.18 and its 200 day simple moving average is $11.90. HireQuest has a fifty-two week low of $7.38 and a fifty-two week high of $19.01.

HireQuest (NASDAQ:HQI) last posted its earnings results on Monday, August 10th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.13 by $0.10. The firm had revenue of $8.10 million during the quarter, compared to analysts’ expectations of $7.10 million. HireQuest had a net margin of 27.06% and a return on equity of 16.41%. Equities analysts forecast that HireQuest will post 0.52 EPS for the current fiscal year.

Analyst Ratings Changes

HQI has been the topic of several recent analyst reports. Barrington Research set a $19.00 target price on HireQuest in a research note on Wednesday. DA Davidson increased their target price on shares of HireQuest from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Weiss Ratings upgraded shares of HireQuest from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 13th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

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.