HireQuest (NASDAQ:HQI) Board Approves Share Buyback Program

HireQuest (NASDAQ:HQI - Get Free Report) declared that its board has authorized a stock repurchase plan on Wednesday, December 17th, RTT News reports. The company plans to repurchase $20.00 million in shares. This repurchase authorization permits the company to purchase up to 18.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.HireQuest Stock Up 0.4%Shares of HQI traded up $0.03 during trading hours on Wednesday, reaching $7.73. 41,012 shares of the company traded hands, compared to its average volume of 36,173. The stock has a market capitalization of $108.99 million, a PE ratio of 15.46 and a beta of 1.13. The stock has a fifty day simple moving average of $8.59 and a 200 day simple moving average of $9.42. HireQuest has a fifty-two week low of $7.38 and a fifty-two week high of $15.75. HireQuest (NASDAQ:HQI - Get Free Report) last announced its earnings results on Thursday, November 6th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.10. The firm had revenue of $8.50 million during the quarter, compared to the consensus estimate of $8.11 million. HireQuest had a net margin of 21.92% and a return on equity of 14.48%. Research analysts predict that HireQuest will post 0.28 EPS for the current fiscal year. HireQuest Announces DividendThe company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were given a dividend of $0.06 per share. The ex-dividend date was Monday, December 1st. This represents a $0.24 dividend on an annualized basis and a yield of 3.1%. HireQuest's dividend payout ratio (DPR) is 48.00%. Wall Street Analyst Weigh InSeveral analysts have weighed in on the company. DA Davidson set a $15.00 target price on HireQuest in a report on Tuesday, December 2nd. Weiss Ratings cut shares of HireQuest from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday. Finally, Barrington Research restated an "outperform" rating and set a $13.00 target price on shares of HireQuest in a report on Wednesday, November 12th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $14.00.Read Our Latest Analysis on HQIHireQuest Company Profile Get Free Report)HireQuest, Inc provides temporary staffing services in the United States. It offers staffing services, including direct-dispatch, executive search, consultant, unskilled and semi-skilled industrial and construction personnel, clerical and administrative personnel, and permanent placement services, as well as commercial and non-CDL drivers, and skilled personnel in the medical and dental industries.Read MoreFive stocks we like better than HireQuestWhat is the Hang Seng index? Post 35% Surge, Analysts Eye More Upside in Copper Giant FreeportProfitably Trade Stocks at 52-Week HighsWhy a SpaceX IPO Could Be a Major Catalyst for GOOGL StockPros And Cons Of Monthly Dividend StocksCan Upwork Maintain Its Comeback? Reasons to Be Bullish and BearishThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in HireQuest Right Now?Before you consider HireQuest, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and HireQuest wasn't on the list.While HireQuest currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here