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

HireQuest, Inc. (NASDAQ:HQIGet Rating) declared a quarterly dividend on Thursday, May 12th, Wall Street Journal reports. Stockholders of record on Wednesday, June 1st will be paid a dividend of 0.06 per share on Wednesday, June 15th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Tuesday, May 31st.

HireQuest has a dividend payout ratio of 21.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect HireQuest to earn $1.19 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 20.2%.

Shares of NASDAQ HQI opened at $14.66 on Friday. HireQuest has a one year low of $14.26 and a one year high of $25.69. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.96 and a quick ratio of 1.96. The business’s fifty day moving average price is $17.75 and its 200-day moving average price is $18.93. The stock has a market capitalization of $202.16 million, a PE ratio of 23.27 and a beta of 0.86.

HireQuest (NASDAQ:HQIGet Rating) last issued its quarterly earnings data on Tuesday, May 10th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.11). HireQuest had a return on equity of 26.27% and a net margin of 31.67%. During the same period in the previous year, the firm posted $0.09 EPS. As a group, equities analysts expect that HireQuest will post 0.95 EPS for the current fiscal year.

In related news, Director Jack A. Olmstead purchased 1,500 shares of the firm’s stock in a transaction on Monday, March 21st. The shares were acquired at an average cost of $18.82 per share, with a total value of $28,230.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 47.70% of the company’s stock.

Several hedge funds have recently modified their holdings of HQI. BlackRock Inc. boosted its holdings in HireQuest by 6.5% in the fourth quarter. BlackRock Inc. now owns 245,795 shares of the company’s stock worth $4,956,000 after acquiring an additional 14,926 shares in the last quarter. State Street Corp boosted its holdings in HireQuest by 3.2% in the fourth quarter. State Street Corp now owns 63,408 shares of the company’s stock worth $1,278,000 after acquiring an additional 1,957 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in HireQuest by 107.1% in the fourth quarter. JPMorgan Chase & Co. now owns 7,005 shares of the company’s stock worth $141,000 after acquiring an additional 3,623 shares in the last quarter. Citigroup Inc. boosted its holdings in HireQuest by 122.8% in the fourth quarter. Citigroup Inc. now owns 1,290 shares of the company’s stock worth $26,000 after acquiring an additional 711 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in HireQuest by 260.0% in the fourth quarter. Bank of America Corp DE now owns 3,564 shares of the company’s stock worth $72,000 after acquiring an additional 2,574 shares in the last quarter. Hedge funds and other institutional investors own 9.32% of the company’s stock.

A number of analysts recently issued reports on the company. Barrington Research assumed coverage on HireQuest in a report on Friday, March 4th. They set an “outperform” rating and a $29.00 price objective on the stock. Zacks Investment Research downgraded HireQuest from a “hold” rating to a “sell” rating in a research report on Wednesday, May 4th.

About HireQuest (Get Rating)

HireQuest, Inc provides temporary staffing solutions in the United States. The company provides temporary staffing services, including skilled and semi-skilled labor and industrial personnel, clerical and administrative personnel, and construction personnel. As of December 31, 2021, the company had a network of approximately 216 franchisee-owned offices in 36 states and the District of Columbia.

Further Reading

Dividend History for HireQuest (NASDAQ:HQI)

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