Q3 2024 EPS Estimates for H&E Equipment Services, Inc. (NASDAQ:HEES) Cut by Analyst

H&E Equipment Services, Inc. (NASDAQ:HEES) – Analysts at B. Riley reduced their Q3 2024 earnings estimates for shares of H&E Equipment Services in a research report issued to clients and investors on Wednesday, May 1st. B. Riley analyst A. Rygiel now expects that the industrial products company will post earnings per share of $1.33 for the quarter, down from their prior estimate 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.

H&E Equipment Services (NASDAQ:HEES) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.02). H&E Equipment Services had a net margin of 11.17% and a return on equity of 35.38%. The company had revenue of $371.20 million for the quarter, compared to the consensus estimate of $352.52 million. During the same quarter in the previous year, the business earned $0.71 EPS. The company’s quarterly revenue was up 15.1% on a year-over-year basis.

Several other brokerages have also recently weighed in on HEES. Stifel Nicolaus reduced 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. StockNews.com raised shares of H&E Equipment Services from a “hold” rating to a “buy” rating in a research note on Wednesday, February 21st. Finally, Wells Fargo & Company lifted their price objective on shares of H&E Equipment Services from $62.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd.

H&E Equipment Services Trading Down 7.2 %

Shares of HEES opened at $44.79 on Thursday. The company’s fifty day moving average is $59.30 and its 200 day moving average is $52.20. H&E Equipment Services has a fifty-two week low of $32.33 and a fifty-two week high of $66.18. The stock has a market capitalization of $1.64 billion, a PE ratio of 9.59, a P/E/G ratio of 0.67 and a beta of 1.98. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.74 and a current ratio of 1.05.

Hedge Funds Weigh In On H&E Equipment Services

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in H&E Equipment Services by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 3,804,017 shares of the industrial products company’s stock worth $199,026,000 after purchasing an additional 51,626 shares in the last quarter. Invesco Ltd. raised its holdings in H&E Equipment Services by 5.8% in the third quarter. Invesco Ltd. now owns 1,355,880 shares of the industrial products company’s stock worth $58,560,000 after purchasing an additional 74,699 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in H&E Equipment Services by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 445,582 shares of the industrial products company’s stock worth $23,313,000 after purchasing an additional 4,978 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in H&E Equipment Services by 62.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 353,611 shares of the industrial products company’s stock worth $18,501,000 after purchasing an additional 136,504 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in H&E Equipment Services by 9.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 309,899 shares of the industrial products company’s stock worth $13,385,000 after purchasing an additional 25,599 shares in the last quarter. 84.08% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Bradley W. Barber sold 15,385 shares of H&E Equipment Services stock in a transaction dated Friday, March 1st. The stock was 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 directly owns 232,742 shares in the company, valued at $13,391,974.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Bradley W. Barber sold 15,385 shares of H&E Equipment Services stock in a transaction dated Friday, March 1st. The stock was 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 directly owns 232,742 shares in the company, valued at $13,391,974.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lawrence C. Karlson sold 8,225 shares of H&E Equipment Services stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $60.98, for a total value of $501,560.50. Following the completion of the sale, the director now owns 47,172 shares of the company’s stock, valued at $2,876,548.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,800 shares of company stock valued at $4,534,789. 12.50% of the stock is currently owned by company insiders.

H&E Equipment Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, February 23rd were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend was Thursday, February 22nd. H&E Equipment Services’s dividend payout ratio is currently 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.