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Herc Holdings acquires Reliable Equipment, no terms » 08:4411/0111/01/21
Herc Holdings announced …
Herc Holdings announced that it has acquired substantially all the assets of Reliable Equipment , a New Hampshire-based equipment rental business with branch operations in Dover and Londonderry, NH. Terms were not disclosed. Reliable Equipment is a full-service provider of equipment rentals with a fleet that includes aerial, material handling and earthmoving equipment, as well as specialty climate control and power generation equipment. Founded in 2010, the business has more than 50 employees and service coverage from Boston to Portland, ME. "This transaction supports one of our key strategic initiatives to expand our presence in urban markets across North America. In particular, Reliable Equipment is well positioned in the north Boston metropolitan area and to achieve growth in this dynamic market.
Herc Holdings establishes payment of quarterly dividend of 50c per shar » 06:3810/2110/21/21
The company said,…
The company said, "In addition, we are pleased to establish the payment of a quarterly dividend of $0.50, with the first payment scheduled for November 4. We believe that our commitment to a dividend will help to broaden our shareholder base, and that we are well positioned to execute our strategy and deliver value to all of our stakeholders."
Herc Holdings backs FY21 adjusted EBITDA view $870M-$890M » 06:3810/2110/21/21
Backs FY22 adjusted…
Backs FY22 adjusted EBITDA view $1.05B-$1.15B.
Herc Holdings reports Q3 adjusted EPS $2.38, consensus $2.37 » 06:3710/2110/21/21
Reports Q3 revenue…
Reports Q3 revenue $550.4M, consensus $553.42M.
Herc Holdings to buy Toronto-based Rapid Equipment in accretive deal, no terms » 08:3710/0710/07/21
Herc Holdings announced …
Herc Holdings announced that it has entered a purchase agreement to acquire Toronto-based Rapid Equipment Rental Limited . The transaction is subject to customary closing conditions with a plan to close in the fourth quarter of 2021. Terms were not disclosed. Rapid Equipment, a full-service general equipment rental company founded in 2013, comprises approximately 110 employees and seven locations serving construction and industrial customers throughout the Greater Toronto Area - one of the largest equipment rental markets in North America. "We expect the acquisition to be accretive to earnings in the first year. We remain well positioned to pursue growth through acquired operations, greenfield branches and investment in key fleet categories as we continue to seek improved scale, profitability and shareholder returns."
Herc Holdings price target raised to $200 from $135 at Barclays » 06:3309/2809/28/21
Barclays analyst Adam…
Barclays analyst Adam Seiden raised the firm's price target on Herc Holdings (HRI) to $200 from $135 and keeps an Overweight rating on the shares. The stock's 30% gain this past week is significant but it only narrows Herc's spread with United Rentals (URI) back to the high end of the historical one-times EBITDA range, Seiden tells investors in a research note. The analyst says that if he's right, the spread will narrow in its entirety, driving another 25% upside in Herc shares "in what's still not an aggressive scenario."
Herc Holdings price target raised to $158 from $145 at Baird » 20:4109/2009/20/21
Baird analyst Mircea…
Baird analyst Mircea Dobre raised the firm's price target on Herc Holdings to $158 from $145 and keeps an Outperform rating on the shares. The analyst cites the company's guidance raise and the management's "robust" three-year growth plan.
Fly Intel: After-Hours Movers » 18:3909/2009/20/21
APRE, VRDN, GMAB, SGEN, SDC, HRI, HLF, LEN, VRCA, ROLL, CFMS, KAR, PGR
Check out this evening's…
Herc Holdings raises FY21 adjusted EBITDA view to $840M-$870M from $870M-$890M » 16:2109/2009/20/21
Backs FY21 net rental…
Backs FY21 net rental equipment capex view of $500M-$550M. Initiates FY22 adjusted EBITDA view of $1.05B-$1.15B. The company also "outlined new strategic initiatives and set a three-year organic rental revenue goal of 12% to 15% compound annual growth from the midpoints of fiscal years 2021 through 2024. It also established an organic adjusted EBITDA goal of 17% to 20% on the same basis." CEO Larry Silber says: "We are pleased with the progress we have made over the last five years as an independently traded public company and are now shifting into high gear to accelerate our growth and return to shareholders," said Larry Silber, president and chief executive officer. "We have strong momentum and intend to invest in new locations and add to our fleet to enhance our urban density, while improving operating leverage and scale. We intend to increase market share through both organic growth and mergers and acquisitions. As we move into the next phase of our journey, we are committing to a capital allocation plan that balances our investment growth options between organic and acquisition growth. We also intend to enhance our returns to shareholders through the establishment of a quarterly dividend. We are well-positioned to execute our strategy and deliver value to all of our stakeholders."
Herc Holdings to hold virtual investor day » 15:5509/2009/20/21
Virtual Investor Day to…
Virtual Investor Day to be held on September 20 at 4 pm. Webcast Link