HireQuest (HQI) Declares $0.06 Dividend
HireQuest said on May 17, 2023 that its board of directors declared a regular quarterly dividend of $0.06 per share ($0.24 annualized). Previously, the company paid $0.06 per share.
Shares must be purchased before the ex-div date of May 31, 2023 to qualify for the dividend. Shareholders of record as of June 1, 2023 will receive the payment on June 15, 2023.
At the current share price of $24.99 / share, the stock's dividend yield is 0.96%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.83%, the lowest has been 0.99%, and the highest has been 6.76%. The standard deviation of yields is 1.56 (n=235).
The current dividend yield is 1.20 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.23. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
Learn to Harvest Dividends
Buy Stock. Capture Dividend. Sell Stock. Repeat. This is the essence of dividend harvesting and you can do it easily with Fintel's Dividend Capture Calendar.
What is the Fund Sentiment?
There are 64 funds or institutions reporting positions in HireQuest. This is an increase of 3 owner(s) or 4.92% in the last quarter. Average portfolio weight of all funds dedicated to HQI is 0.05%, an increase of 328.18%. Total shares owned by institutions increased in the last three months by 8.57% to 1,171K shares.
Analyst Price Forecast Suggests 17.01% Upside
As of May 11, 2023, the average one-year price target for HireQuest is 29.24. The forecasts range from a low of 28.28 to a high of $30.45. The average price target represents an increase of 17.01% from its latest reported closing price of 24.99.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for HireQuest is 37MM, an increase of 9.48%. The projected annual non-GAAP EPS is 1.32.
What are Other Shareholders Doing?
Bandera Partners holds 252K shares representing 1.81% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 149K shares representing 1.07% ownership of the company. In it's prior filing, the firm reported owning 137K shares, representing an increase of 8.39%. The firm increased its portfolio allocation in HQI by 23.55% over the last quarter.
NewEdge Wealth holds 93K shares representing 0.67% ownership of the company. No change in the last quarter.
Summit Trail Advisors holds 63K shares representing 0.45% ownership of the company. In it's prior filing, the firm reported owning 63K shares, representing an increase of 0.00%. The firm increased its portfolio allocation in HQI by 23.72% over the last quarter.
Truist Financial holds 62K shares representing 0.45% ownership of the company. No change in the last quarter.
HireQuest Background Information
(This description is provided by the company.)
HireQuest, Inc. is a nationwide franchisor that provides on-demand labor and commercial staffing solutions in the light industrial, blue-collar, and commercial segments of the staffing industry for HireQuest Direct, HireQuest, and Snelling franchised offices across the United States. Through its national network of over 180 franchisee-owned offices in more than 30 states and the District of Columbia, HireQuest provides employment for approximately 50,000 individuals annually that work for thousands of customers in numerous industries including construction, light industrial, manufacturing, hospitality, clerical, travel, and event services.
Key filings for this company:
This story originally appeared on Fintel.