Equities Analysts Issue Forecasts for HireQuest, Inc.’s Q3 2024 Earnings (NASDAQ:HQI)

HireQuest, Inc. (NASDAQ:HQI) – Stock analysts at Barrington Research boosted their Q3 2024 EPS estimates for shares of HireQuest in a note issued to investors on Thursday, August 22nd. Barrington Research analyst K. Steinke now expects that the company will earn $0.16 per share for the quarter, up from their prior forecast of $0.15. Barrington Research currently has a “Outperform” rating and a $17.00 target price on the stock. The consensus estimate for HireQuest’s current full-year earnings is $0.54 per share. Barrington Research also issued estimates for HireQuest’s Q4 2024 earnings at $0.16 EPS, FY2024 earnings at $0.59 EPS and FY2025 earnings at $0.78 EPS.

HireQuest (NASDAQ:HQI) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.03. HireQuest had a return on equity of 9.23% and a net margin of 14.06%. The firm had revenue of $8.68 million for the quarter, compared to analyst estimates of $8.40 million. During the same quarter in the prior year, the company earned $0.15 earnings per share.

Separately, DA Davidson reissued a “buy” rating and set a $19.00 price target on shares of HireQuest in a research report on Friday, August 9th.

HireQuest Trading Up 2.8 %

HireQuest stock opened at $13.31 on Monday. HireQuest has a 12 month low of $11.39 and a 12 month high of $20.17. The stock’s 50 day moving average is $12.83 and its 200-day moving average is $12.79. The company has a market capitalization of $186.34 million, a price-to-earnings ratio of 35.03 and a beta of 1.03.

HireQuest Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 2nd will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend is Friday, August 30th. HireQuest’s payout ratio is 63.16%.

Insider Activity

In other news, CEO Richard Hermanns purchased 2,000 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was bought at an average cost of $12.70 per share, for a total transaction of $25,400.00. Following the purchase, the chief executive officer now owns 3,058,792 shares of the company’s stock, valued at $38,846,658.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders bought 9,950 shares of company stock worth $122,118. Insiders own 45.80% of the company’s stock.

Institutional Trading of HireQuest

Large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its stake in HireQuest by 0.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 90,113 shares of the company’s stock valued at $1,113,000 after purchasing an additional 772 shares during the last quarter. US Bancorp DE acquired a new position in HireQuest during the 4th quarter valued at about $2,047,000. Finally, Vanguard Group Inc. boosted its stake in HireQuest by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 267,461 shares of the company’s stock valued at $3,464,000 after purchasing an additional 2,490 shares during the last quarter. 12.00% of the stock is currently owned by institutional investors and hedge funds.

About HireQuest

HireQuest, Inc provides temporary staffing services in the United States. It offers staffing services, including direct-dispatch, executive search, consultant, unskilled and semi-skilled industrial and construction personnel, clerical and administrative personnel, and permanent placement services, as well as commercial and non-CDL drivers, and skilled personnel in the medical and dental industries.