HireQuest, Inc. (NASDAQ:HQI) Forecasted to Post Q2 2023 Earnings of $0.26 Per Share

Posted by Defense World Staff on May 20th, 2023

HireQuest, Inc. (NASDAQ:HQI – Get Rating) – Analysts at Barrington Research lowered their Q2 2023 EPS estimates for shares of HireQuest in a research note issued on Wednesday, May 17th. Barrington Research analyst K. Steinke now expects that the company will earn $0.26 per share for the quarter, down from their prior estimate of $0.32. Barrington Research currently has a “Outperform” rating and a $29.00 target price on the stock. The consensus estimate for HireQuest’s current full-year earnings is $1.22 per share. Barrington Research also issued estimates for HireQuest’s Q3 2023 earnings at $0.28 EPS, Q4 2023 earnings at $0.26 EPS and FY2024 earnings at $1.17 EPS.

HireQuest (NASDAQ:HQI – Get Rating) last issued its quarterly earnings results on Thursday, March 16th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.02). HireQuest had a return on equity of 24.50% and a net margin of 39.63%. The business had revenue of $8.05 million for the quarter, compared to analyst estimates of $8.49 million.

Separately, DA Davidson boosted their price objective on shares of HireQuest from $23.00 to $28.00 in a research report on Friday, March 17th.

HireQuest Stock Down 2.1 %

Shares of NASDAQ HQI opened at $24.46 on Friday. The stock has a market cap of $339.99 million, a P/E ratio of 23.08 and a beta of 1.01. The firm has a 50 day moving average price of $21.53 and a 200 day moving average price of $19.87. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. HireQuest has a 52-week low of $11.80 and a 52-week high of $25.20.

HireQuest Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be issued a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $0.24 annualized dividend and a dividend yield of 0.98%. HireQuest’s dividend payout ratio is currently 22.64%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. HRT Financial LP acquired a new position in shares of HireQuest during the first quarter valued at about $273,000. Dimensional Fund Advisors LP boosted its holdings in HireQuest by 64.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 19,977 shares of the company’s stock worth $257,000 after buying an additional 7,840 shares during the period. Citigroup Inc. boosted its holdings in HireQuest by 65.5% in the 1st quarter. Citigroup Inc. now owns 11,510 shares of the company’s stock worth $248,000 after buying an additional 4,555 shares during the period. State Street Corp lifted its stake in HireQuest by 19.2% in the 3rd quarter. State Street Corp now owns 16,127 shares of the company’s stock worth $208,000 after purchasing an additional 2,600 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of HireQuest during the 1st quarter valued at $205,000. 6.97% of the stock is currently owned by institutional investors and hedge funds.

About HireQuest

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HireQuest, Inc engages in the provision of staffing services. It also offers temporary, permanent, and direct-hire recruiting and staffing services of entry-level and clerical or admin employees, construction and light industrial workers, semi-skilled trades, healthcare personnel, and professionals and executives.