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

HireQuest, Inc. (NASDAQ:HQI) declared a quarterly dividend on Tuesday, February 17th. Shareholders of record on Monday, March 2nd will be given a dividend of 0.06 per share on Monday, March 16th. This represents a c) dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Monday, March 2nd.

HireQuest has a payout ratio of 42.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect HireQuest to earn $0.83 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 28.9%.

HireQuest Stock Performance

Shares of HQI traded down $0.13 during midday trading on Tuesday, hitting $10.74. 17,707 shares of the stock were exchanged, compared to its average volume of 29,171. HireQuest has a 52-week low of $7.38 and a 52-week high of $15.75. The stock has a fifty day simple moving average of $10.29 and a 200 day simple moving average of $9.60. The firm has a market cap of $151.43 million, a P/E ratio of 21.48 and a beta of 1.10.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Barrington Research reissued an “outperform” rating and set a $13.00 price target on shares of HireQuest in a research report on Thursday, January 29th. DA Davidson set a $15.00 price target on shares of HireQuest in a research report on Tuesday, December 2nd. Weiss Ratings upgraded shares of HireQuest from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 12th. Finally, Wall Street Zen upgraded HireQuest to a “hold” rating in a research note on Saturday, January 17th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.00.

HireQuest Company Profile

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.