Rush Enterprises (NASDAQ:RUSHA) Issues Earnings Results, Beats Estimates By $0.01 EPS

Rush Enterprises (NASDAQ:RUSHA) issued its quarterly earnings results on Tuesday. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01, Zacks reports. The business had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.05 billion.

Rush Enterprises Price Performance

NASDAQ:RUSHA opened at $44.90 on Wednesday. Rush Enterprises has a one year low of $30.45 and a one year high of $55.74. The company has a market cap of $5.24 billion, a PE ratio of 19.91 and a beta of 0.92. The firm’s 50 day simple moving average is $48.03 and its 200 day simple moving average is $36.00.

Rush Enterprises Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 11th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, November 11th. Rush Enterprises’s dividend payout ratio (DPR) is presently 25.34%.

Wall Street Analyst Weigh In

RUSHA has been the topic of a number of research analyst reports. UBS Group reaffirmed a “neutral” rating and issued a $56.67 target price (up from $52.00) on shares of Rush Enterprises in a report on Tuesday, August 25th. Wall Street Zen lowered Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Sunday, October 11th. Stephens raised their price target on Rush Enterprises from $40.00 to $42.22 and gave the company an “overweight” rating in a report on Thursday, July 30th. Weiss Ratings restated a “buy (b-)” rating on shares of Rush Enterprises in a research report on Wednesday, October 21st. Finally, Zacks Research lowered shares of Rush Enterprises from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 2nd. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $46.00.

Insiders Place Their Bets

In other news, CFO Steven Keller sold 46,525 shares of Rush Enterprises stock in a transaction on Friday, July 31st. The shares were sold at an average price of $35.88, for a total value of $1,669,317.00. Following the completion of the sale, the chief financial officer owned 189,841 shares in the company, valued at $6,811,495.08. The trade was a 19.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael McRoberts sold 14,625 shares of Rush Enterprises stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $36.20, for a total value of $529,360.00. Following the transaction, the director owned 36,514 shares of the company’s stock, valued at $1,321,644.52. This trade represents a 28.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 252,561 shares of company stock worth $9,092,298 in the last quarter. 12.68% of the stock is currently owned by company insiders.

Rush Enterprises Company Profile

Rush Enterprises, Inc is a commercial vehicle solutions provider operating through the Rush Truck Centers network. The company sells new and used commercial trucks, including vehicles from manufacturers such as Peterbilt, International, Hino, Isuzu and Ford, along with related buses and specialty vehicles in selected markets.

In addition to vehicle sales, Rush provides parts, maintenance and repair services through its dealership network. Its offerings also include truck leasing and rentals, collision repair, mobile service, aftermarket products, and fleet-management and technology solutions designed to support commercial transportation operators.

Founded in 1965 and headquartered in New Braunfels, Texas, Rush has expanded from its original Peterbilt dealership into one of the largest commercial vehicle dealership networks in the United States.