B. Riley Predicts Weaker Earnings for H&E Equipment Services

H&E Equipment Services, Inc. (NASDAQ:HEES) – Equities researchers at B. Riley dropped their FY2024 earnings per share estimates for shares of H&E Equipment Services in a research report issued to clients and investors on Wednesday, October 30th. B. Riley analyst A. Rygiel now anticipates that the industrial products company will post earnings of $3.29 per share for the year, down from their prior estimate of $3.50. B. Riley has a “Buy” rating and a $60.00 price objective on the stock. The consensus estimate for H&E Equipment Services’ current full-year earnings is $3.52 per share. B. Riley also issued estimates for H&E Equipment Services’ Q4 2024 earnings at $0.82 EPS and FY2025 earnings at $3.62 EPS.

H&E Equipment Services (NASDAQ:HEES) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.15). The company had revenue of $384.86 million during the quarter, compared to analysts’ expectations of $388.18 million. H&E Equipment Services had a net margin of 10.53% and a return on equity of 30.84%. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.46 earnings per share.

A number of other equities analysts also recently weighed in on the stock. Stifel Nicolaus cut their price target on shares of H&E Equipment Services from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. KeyCorp initiated coverage on H&E Equipment Services in a research note on Friday, August 9th. They issued a “sector weight” rating on the stock. Finally, UBS Group dropped their price objective on shares of H&E Equipment Services from $63.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $61.25.

H&E Equipment Services Stock Performance

NASDAQ HEES opened at $52.93 on Thursday. H&E Equipment Services has a 1 year low of $39.79 and a 1 year high of $66.18. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 11.71 and a beta of 1.84. The company has a fifty day moving average price of $48.87 and a 200-day moving average price of $48.49. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.61 and a quick ratio of 0.56.

H&E Equipment Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend was Wednesday, August 28th. H&E Equipment Services’s payout ratio is 23.55%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of HEES. KG&L Capital Management LLC bought a new stake in H&E Equipment Services during the third quarter valued at approximately $542,000. Americana Partners LLC purchased a new stake in shares of H&E Equipment Services during the 3rd quarter valued at $283,000. abrdn plc lifted its holdings in shares of H&E Equipment Services by 5.2% during the 3rd quarter. abrdn plc now owns 338,938 shares of the industrial products company’s stock worth $16,500,000 after acquiring an additional 16,681 shares during the last quarter. Nisa Investment Advisors LLC grew its position in H&E Equipment Services by 7.1% in the third quarter. Nisa Investment Advisors LLC now owns 8,380 shares of the industrial products company’s stock worth $408,000 after acquiring an additional 555 shares in the last quarter. Finally, Semanteon Capital Management LP increased its stake in H&E Equipment Services by 230.1% in the third quarter. Semanteon Capital Management LP now owns 21,103 shares of the industrial products company’s stock valued at $1,027,000 after acquiring an additional 14,710 shares during the last quarter. Hedge funds and other institutional investors own 84.08% of the company’s stock.

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.