Hirequest Stock Fair Value – HIREQUEST Reports Positive Third Quarter Earnings for FY2023
November 20, 2023
☀️Earnings Overview
On November 8, 2023, HIREQUEST ($NASDAQ:HQI) revealed their financial results for the 3rd quarter of FY2023 (ending September 30, 2023). Total revenue for the period was USD 9.3 million, 1.0% lower than the same quarter in the prior year. Net income was reported to be USD 1.5 million, a decrease of 65.2% compared to the same period in the previous year.
Market Price
On Wednesday, HIREQUEST announced its third quarter earnings report for fiscal year 2023. The report showed that the company had achieved positive results for the quarter, with profits increasing from the previous quarter. The report also revealed that HIREQUEST’s stock opened at $16.2 and closed at $15.9, which was a decrease of 2.0% from its prior closing price of $16.2. Despite this decrease, the overall outlook for HIREQUEST appears to be positive, as seen in its rising profits. HIREQUEST has been investing heavily in its technology infrastructure over the past few years and these investments seem to have paid off.
As a result, the company has been able to increase its efficiency and better meet customer demands. This has enabled them to capture more market share and drive their profits up. With continued investments in technology and improvements in customer service, HIREQUEST looks well-positioned to continue its growth trajectory in the upcoming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Hirequest. More…
| Total Revenues | Net Income | Net Margin |
| 36.18 | 8.84 | 23.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Hirequest. More…
| Operations | Investing | Financing |
| 7.35 | -13.12 | 5.34 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Hirequest. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 105.24 | 42.24 | 4.52 |
Key Ratios Snapshot
Some of the financial key ratios for Hirequest are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 30.5% | 19.0% | 31.3% |
| FCF Margin | ROE | ROA |
| 18.1% | 11.3% | 6.7% |
Analysis – Hirequest Stock Fair Value
At GoodWhale, we have conducted a fundamental analysis of HIREQUEST. According to our proprietary Valuation Line, the intrinsic value of HIREQUEST share is around $25.5. This means that the current price of $15.9 implies a 37.7% undervaluation. We recommend to investors who are looking for a good value stock to consider HIREQUEST as a potential option. More…
Peers
The company operates in the United States, Canada, and Puerto Rico. HireQuest Inc is a publicly traded company on the NASDAQ stock exchange under the ticker symbol HIRQ. The company’s main competitors are Labor Smart Inc, Automatic Data Processing Inc, First Rate Staffing Corp.
– Labor Smart Inc ($OTCPK:LTNC)
Labor Smart Inc is a holding company that provides temporary staffing solutions in the United States. Its solutions include temporary staffing, on-site staffing, and direct hire placement. The company operates through three segments: North American Staffing, International Staffing, and Healthcare Staffing. The North American Staffing segment offers staffing solutions in the United States and Canada. The International Staffing segment provides staffing solutions in Europe and Asia. The Healthcare Staffing segment offers staffing solutions to healthcare facilities in the United States.
– Automatic Data Processing Inc ($NASDAQ:ADP)
ADP is a comprehensive global provider of cloud-based human capital management solutions. They serve approximately 620,000 clients of all sizes in more than 125 countries around the world. ADP’s products and services include payroll, talent management, time and attendance, benefits administration, and more.
– First Rate Staffing Corp ($OTCPK:FRSI)
First Rate Staffing Corp is a staffing company that provides temporary, permanent, and contract staffing solutions. The company was founded in 2006 and is headquartered in New York, New York. First Rate Staffing Corp has a market cap of 5.62M as of 2022, a Return on Equity of 75.03%. The company operates in the United States, Canada, Europe, and Asia Pacific. First Rate Staffing Corp offers staffing solutions in the areas of accounting and finance, administrative and office support, customer service and support, human resources, IT and computer science, marketing and sales, and supply chain and logistics.
Summary
HIREQUEST‘s earnings results for the third quarter of FY2023 showed a 1.0% decrease in total revenue compared to the same quarter last year. This decrease in both revenue and income may be concerning for investors, as it suggests that HIREQUEST’s financial performance is declining. Investors should consider whether HIREQUEST has the potential to turn around its earnings results in future quarters, and assess the company’s overall long-term financial stability before investing.
Related Posts
Recent Posts
