HireQuest, Inc. (HQI) to Issue Quarterly Dividend of $0.06 on September 15th

HireQuest, Inc. (NASDAQ:HQI) declared a quarterly dividend on Thursday, August 13th. Shareholders of record on Tuesday, September 1st will be paid a dividend of 0.06 per share on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 1st.

HireQuest has raised its dividend payment by an average of 0.2%annually over the last three years. HireQuest has a dividend payout ratio of 42.1% meaning its dividend is sufficiently covered by earnings. Research 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 Price Performance

NASDAQ:HQI opened at $16.82 on Friday. The firm has a 50-day moving average of $13.25 and a two-hundred day moving average of $11.93. The stock has a market cap of $233.80 million, a P/E ratio of 29.51 and a beta of 1.11. HireQuest has a 1-year low of $7.38 and a 1-year high of $19.01.

HireQuest (NASDAQ:HQI) last announced its earnings results on Monday, August 10th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.10. The business had revenue of $8.10 million for the quarter, compared to analyst estimates of $7.10 million. HireQuest had a return on equity of 16.35% and a net margin of 27.06%. As a group, equities analysts expect that HireQuest will post 0.52 earnings per share for the current year.

Wall Street Analyst Weigh In

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