Q3 2024 Earnings Estimate for H&E Equipment Services, Inc. (NASDAQ:HEES) Issued By B. Riley

H&E Equipment Services, Inc. (NASDAQ:HEES) – Analysts at B. Riley lowered their Q3 2024 earnings estimates for shares of H&E Equipment Services in a note issued to investors on Wednesday, May 1st. B. Riley analyst A. Rygiel now anticipates that the industrial products company will post earnings per share of $1.33 for the quarter, down from their previous forecast of $1.51. The consensus estimate for H&E Equipment Services’ current full-year earnings is $5.02 per share. B. Riley also issued estimates for H&E Equipment Services’ Q4 2024 earnings at $1.28 EPS.

A number of other research firms also recently weighed in on HEES. StockNews.com downgraded H&E Equipment Services from a “buy” rating to a “hold” rating in a research note on Thursday. Wells Fargo & Company raised their target price on shares of H&E Equipment Services from $62.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Finally, Stifel Nicolaus dropped their price target on shares of H&E Equipment Services from $69.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday.

H&E Equipment Services Price Performance

Shares of NASDAQ HEES opened at $46.65 on Thursday. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.85 and a quick ratio of 0.74. The business has a 50-day moving average of $59.01 and a 200-day moving average of $52.19. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 9.99, a PEG ratio of 0.63 and a beta of 1.98. H&E Equipment Services has a fifty-two week low of $32.33 and a fifty-two week high of $66.18.

H&E Equipment Services (NASDAQ:HEES) last released its earnings results on Tuesday, April 30th. The industrial products company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.02). H&E Equipment Services had a net margin of 11.17% and a return on equity of 34.33%. The business had revenue of $371.20 million during the quarter, compared to the consensus estimate of $352.52 million. During the same period last year, the business posted $0.71 EPS. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis.

Institutional Investors Weigh In On H&E Equipment Services

Hedge funds and other institutional investors have recently modified their holdings of the company. Fidelis Capital Partners LLC acquired a new position in shares of H&E Equipment Services in the first quarter valued at about $62,000. Penn Mutual Asset Management LLC bought a new position in shares of H&E Equipment Services during the third quarter worth approximately $201,000. Americana Partners LLC acquired a new stake in shares of H&E Equipment Services in the third quarter valued at approximately $202,000. Wellington Shields Capital Management LLC bought a new stake in shares of H&E Equipment Services in the first quarter valued at approximately $205,000. Finally, Busey Bank acquired a new stake in H&E Equipment Services during the first quarter worth approximately $206,000. Institutional investors and hedge funds own 84.08% of the company’s stock.

Insider Buying and Selling

In other H&E Equipment Services news, CEO Bradley W. Barber sold 11,483 shares of H&E Equipment Services stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $63.42, for a total transaction of $728,251.86. Following the completion of the transaction, the chief executive officer now directly owns 210,170 shares of the company’s stock, valued at $13,328,981.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Bradley W. Barber sold 23,100 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $60.53, for a total transaction of $1,398,243.00. Following the transaction, the chief executive officer now owns 221,653 shares in the company, valued at $13,416,656.09. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Bradley W. Barber sold 11,483 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $63.42, for a total value of $728,251.86. Following the completion of the sale, the chief executive officer now owns 210,170 shares of the company’s stock, valued at $13,328,981.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 75,800 shares of company stock valued at $4,534,789. 12.50% of the stock is owned by insiders.

H&E Equipment Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 23rd were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend was Thursday, February 22nd. H&E Equipment Services’s payout ratio is presently 23.55%.

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.