Q2 2024 EPS Estimates for H&E Equipment Services, Inc. Reduced by B. Riley (NASDAQ:HEES)

H&E Equipment Services, Inc. (NASDAQ:HEES) – Equities researchers at B. Riley dropped their Q2 2024 EPS estimates for H&E Equipment Services in a note issued to investors on Wednesday, May 1st. B. Riley analyst A. Rygiel now expects that the industrial products company will post earnings of $0.99 per share for the quarter, down from their prior forecast of $1.35. The consensus estimate for H&E Equipment Services’ current full-year earnings is $4.08 per share. B. Riley also issued estimates for H&E Equipment Services’ FY2024 earnings at $4.30 EPS and FY2025 earnings at $5.25 EPS.

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

H&E Equipment Services Trading Down 0.9 %

NASDAQ:HEES opened at $46.65 on Friday. The business’s 50-day moving average is $59.01 and its two-hundred day moving average is $52.23. The firm has a market capitalization of $1.70 billion, a PE ratio of 9.99, a price-to-earnings-growth ratio of 1.73 and a beta of 1.98. H&E Equipment Services has a 12 month low of $32.33 and a 12 month high of $66.18. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.85 and a quick ratio of 0.74.

H&E Equipment Services (NASDAQ:HEES) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $0.71 EPS 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 analysts’ expectations of $352.52 million. During the same period in the prior year, the business posted $0.71 EPS. The business’s revenue was up 15.1% on a year-over-year basis.

Institutional Trading of H&E Equipment Services

Several hedge funds and other institutional investors have recently bought and sold shares of HEES. Americana Partners LLC lifted its holdings in H&E Equipment Services by 4.3% during the 4th quarter. Americana Partners LLC now owns 4,988 shares of the industrial products company’s stock worth $261,000 after buying an additional 205 shares during the last quarter. Arizona State Retirement System raised its position in shares of H&E Equipment Services by 3.9% during the 4th quarter. Arizona State Retirement System now owns 9,153 shares of the industrial products company’s stock valued at $479,000 after acquiring an additional 347 shares in the last quarter. Kennedy Capital Management LLC lifted its stake in H&E Equipment Services by 0.5% during the third quarter. Kennedy Capital Management LLC now owns 89,598 shares of the industrial products company’s stock worth $3,870,000 after purchasing an additional 462 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in H&E Equipment Services in the first quarter worth $62,000. Finally, Federated Hermes Inc. increased its stake in H&E Equipment Services by 1.7% during the third quarter. Federated Hermes Inc. now owns 66,404 shares of the industrial products company’s stock valued at $2,868,000 after purchasing an additional 1,085 shares during the last quarter. 84.08% of the stock is owned by institutional investors.

Insider Buying and Selling

In other H&E Equipment Services news, CEO Bradley W. Barber sold 1,092 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $63.42, for a total transaction of $69,254.64. Following the completion of the sale, the chief executive officer now owns 209,078 shares in the company, valued at approximately $13,259,726.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Bradley W. Barber sold 15,385 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $57.54, for a total value of $885,252.90. Following the completion of the sale, the chief executive officer now owns 232,742 shares of the company’s stock, valued at approximately $13,391,974.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Bradley W. Barber sold 1,092 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $63.42, for a total transaction of $69,254.64. Following the completion of the sale, the chief executive officer now owns 209,078 shares in the company, valued at approximately $13,259,726.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 75,800 shares of company stock worth $4,534,789. 12.50% of the stock is currently owned by corporate insiders.

H&E Equipment Services Dividend Announcement

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

About H&E Equipment Services

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.