H&E Equipment Services (NASDAQ:HEES) Stock Price Down 5.3% – Here’s What Happened

H&E Equipment Services, Inc. (NASDAQ:HEES)’s share price dropped 5.3% during mid-day trading on Tuesday . The company traded as low as $55.71 and last traded at $56.67. Approximately 67,280 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 267,392 shares. The stock had previously closed at $59.86.

Analyst Upgrades and Downgrades

HEES has been the subject of a number of research reports. B. Riley reiterated a “buy” rating and set a $60.00 price target (down from $62.00) on shares of H&E Equipment Services in a research report on Wednesday, October 30th. UBS Group reduced their price objective on H&E Equipment Services from $63.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $61.25.

H&E Equipment Services Stock Performance

The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.59 and a current ratio of 0.64. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 14.58, a price-to-earnings-growth ratio of 13.70 and a beta of 1.84. The stock’s fifty day simple moving average is $55.31 and its two-hundred day simple moving average is $49.56.

H&E Equipment Services (NASDAQ:HEES) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.15). The firm had revenue of $384.86 million during the quarter, compared to analysts’ expectations of $388.18 million. H&E Equipment Services had a return on equity of 25.46% and a net margin of 9.47%. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.46 earnings per share. Equities research analysts anticipate that H&E Equipment Services, Inc. will post 3.34 EPS for the current year.

H&E Equipment Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.10 annualized dividend and a yield of 1.91%. H&E Equipment Services’s dividend payout ratio is currently 27.92%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new position in H&E Equipment Services in the 2nd quarter valued at about $37,000. CWM LLC lifted its stake in shares of H&E Equipment Services by 42.5% in the second quarter. CWM LLC now owns 932 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 278 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in H&E Equipment Services in the second quarter valued at about $65,000. Millburn Ridgefield Corp acquired a new stake in H&E Equipment Services during the 3rd quarter valued at approximately $84,000. Finally, Quest Partners LLC purchased a new stake in H&E Equipment Services during the 2nd quarter worth approximately $109,000. Institutional investors and hedge funds own 84.08% of the company’s stock.

H&E Equipment Services Company Profile

H&E Equipment Services, Inc operates as an integrated equipment services company in the United States. The company operates in five segments: Equipment Rentals, Sales of Rental Equipment, Sales of New Equipment, Parts Sales, and Repair and Maintenance Services. The Equipment Rentals segment provides construction and industrial equipment for rent on a daily, weekly, and monthly basis.