H&E Equipment Services (NASDAQ:HEES) Sets New 12-Month Low After Earnings Miss

Shares of H&E Equipment Services, Inc. (NASDAQ:HEES) reached a new 52-week low during mid-day trading on Wednesday following a weaker than expected earnings announcement. The company traded as low as $88.89 and last traded at $89.81, with a volume of 340719 shares trading hands. The stock had previously closed at $89.62.

The industrial products company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.63). H&E Equipment Services had a return on equity of 25.46% and a net margin of 9.47%. The business had revenue of $319.46 million for the quarter, compared to analysts’ expectations of $362.60 million. During the same period in the previous year, the company earned $0.71 earnings per share. H&E Equipment Services’s quarterly revenue was down 13.9% on a year-over-year basis.

H&E Equipment Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Tuesday, February 18th were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Tuesday, February 18th. H&E Equipment Services’s payout ratio is currently 32.64%.

Analyst Ratings Changes

Several brokerages recently weighed in on HEES. UBS Group reaffirmed a “neutral” rating and set a $92.00 target price (up from $60.00) on shares of H&E Equipment Services in a research note on Friday, January 17th. StockNews.com began coverage on shares of H&E Equipment Services in a research report on Wednesday. They issued a “hold” rating on the stock. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $71.33.

Hedge Funds Weigh In On H&E Equipment Services

Several large investors have recently bought and sold shares of the business. Farther Finance Advisors LLC raised its holdings in H&E Equipment Services by 108.4% during the first quarter. Farther Finance Advisors LLC now owns 298 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 155 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in H&E Equipment Services by 17.8% during the fourth quarter. Meeder Asset Management Inc. now owns 1,453 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 220 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in H&E Equipment Services by 2.4% during the fourth quarter. Jones Financial Companies Lllp now owns 12,280 shares of the industrial products company’s stock worth $601,000 after purchasing an additional 282 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in H&E Equipment Services by 3.7% during the first quarter. Nisa Investment Advisors LLC now owns 8,686 shares of the industrial products company’s stock worth $823,000 after purchasing an additional 306 shares in the last quarter. Finally, Swiss National Bank raised its holdings in H&E Equipment Services by 0.6% during the fourth quarter. Swiss National Bank now owns 64,600 shares of the industrial products company’s stock worth $3,163,000 after purchasing an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 84.08% of the company’s stock.

H&E Equipment Services Trading Up 0.2 %

The company has a quick ratio of 0.59, a current ratio of 0.64 and a debt-to-equity ratio of 2.09. The business’s fifty day simple moving average is $93.25 and its two-hundred day simple moving average is $74.67. The company has a market cap of $3.29 billion, a price-to-earnings ratio of 22.79 and a beta of 1.74.

About H&E Equipment Services

H&E Equipment Services, Inc engages in the provision of equipment services, which focus on heavy construction and industrial equipment. It operates through the following segments: Equipment Rentals, New Equipment Sales, Used Equipment Sales, Parts Sales, and Services. The Equipment Rentals segment focuses on renting construction and industrial equipment.