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

HireQuest, Inc. (NASDAQ:HQI) declared a quarterly dividend on Thursday, August 13th. Shareholders 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 yield of 1.4%. The ex-dividend date of this dividend is Thursday, September 10th.

HireQuest has raised its dividend payment by an average of 0.2%annually over the last three years. HireQuest has a payout ratio of 42.1% meaning its dividend is sufficiently covered by earnings. Equities 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 $17.71 on Friday. HireQuest has a fifty-two week low of $7.38 and a fifty-two week high of $19.01. The stock’s 50-day moving average is $13.18 and its two-hundred day moving average is $11.90. The firm has a market cap of $246.17 million, a P/E ratio of 31.07 and a beta of 1.11.

HireQuest (NASDAQ:HQI) last released its quarterly earnings results on Monday, August 10th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.10. The company had revenue of $8.10 million during the quarter, compared to the consensus estimate of $7.10 million. HireQuest had a return on equity of 16.41% and a net margin of 27.06%. On average, equities analysts expect that HireQuest will post 0.52 EPS for the current year.

Analysts Set New Price Targets

HQI has been the subject of several analyst reports. DA Davidson boosted their target price on HireQuest from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday. Barrington Research set a $19.00 price target on HireQuest in a report on Wednesday. Finally, Weiss Ratings raised shares of HireQuest from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 13th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently 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.