Barrington Research Weighs in on HireQuest, Inc.’s Q4 2022 Earnings (NASDAQ:HQI)

HireQuest, Inc. (NASDAQ:HQIGet Rating) – Investment analysts at Barrington Research cut their Q4 2022 earnings per share estimates for shares of HireQuest in a research note issued on Monday, November 21st. Barrington Research analyst K. Steinke now expects that the company will post earnings of $0.21 per share for the quarter, down from their previous forecast of $0.24. The consensus estimate for HireQuest’s current full-year earnings is $1.16 per share. Barrington Research also issued estimates for HireQuest’s FY2023 earnings at $1.12 EPS.

HireQuest (NASDAQ:HQIGet Rating) last released its quarterly earnings data on Thursday, November 3rd. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.01. HireQuest had a return on equity of 29.18% and a net margin of 35.56%. The business had revenue of $9.36 million for the quarter, compared to analysts’ expectations of $9.80 million.

Several other brokerages also recently issued reports on HQI. TheStreet upgraded HireQuest from a “c” rating to a “b-” rating in a report on Thursday, August 18th. EF Hutton Acquisition Co. I assumed coverage on HireQuest in a research note on Tuesday, September 13th. They issued a “buy” rating and a $24.00 price target for the company.

HireQuest Price Performance

Shares of HQI stock opened at $17.70 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.99 and a current ratio of 1.99. HireQuest has a 52 week low of $11.80 and a 52 week high of $23.39. The stock has a market capitalization of $245.68 million, a PE ratio of 20.34 and a beta of 0.94. The stock’s fifty day moving average is $14.46 and its 200-day moving average is $14.39.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in HireQuest by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 183,808 shares of the company’s stock worth $2,371,000 after purchasing an additional 800 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of HireQuest by 5.1% in the third quarter. Bank of New York Mellon Corp now owns 28,912 shares of the company’s stock valued at $373,000 after acquiring an additional 1,399 shares in the last quarter. Lazard Asset Management LLC grew its holdings in shares of HireQuest by 58.4% in the second quarter. Lazard Asset Management LLC now owns 3,794 shares of the company’s stock valued at $53,000 after acquiring an additional 1,399 shares in the last quarter. State Street Corp grew its holdings in shares of HireQuest by 3.6% in the first quarter. State Street Corp now owns 65,678 shares of the company’s stock valued at $1,256,000 after acquiring an additional 2,270 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in HireQuest by 38.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 14,916 shares of the company’s stock valued at $286,000 after purchasing an additional 4,120 shares during the period. 7.57% of the stock is owned by institutional investors and hedge funds.

HireQuest Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be given a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.36%. HireQuest’s dividend payout ratio (DPR) is presently 27.59%.

HireQuest Company Profile

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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.

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