EquipmentShare.com (NASDAQ:EQPT) Announces Quarterly Earnings Results

Key Points

• EquipmentShare reported quarterly EPS of $0.16, beating the $0.02 analyst consensus by $0.14, on revenue of $1.47 billion. Shares rose 10.4% in Monday trading.
• Analysts’ consensus rating is Hold, with an average price target of $30; several firms recently lowered their targets, though some retained Buy or Overweight ratings.
• The company has authorized a $500 million share buyback, covering up to 11.3% of its outstanding shares.

EquipmentShare.com (NASDAQ:EQPT - Get Free Report) issued its quarterly earnings results on Monday. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.14, Zacks reports. The business had revenue of $1.47 billion for the quarter.

EquipmentShare.com Stock Up 10.4%

EQPT stock traded up $1.53 during mid-day trading on Monday, reaching $16.21. The company had a trading volume of 2,353,341 shares, compared to its average volume of 2,536,453. The company has a debt-to-equity ratio of 3.16, a quick ratio of 1.91 and a current ratio of 2.42. The company has a market capitalization of $4.11 billion and a price-to-earnings ratio of 52.29. The firm has a fifty day simple moving average of $16.95 and a 200 day simple moving average of $21.01. EquipmentShare.com has a fifty-two week low of $13.00 and a fifty-two week high of $35.50.

Analysts Set New Price Targets

EQPT has been the subject of several recent research reports. UBS Group lowered their price objective on shares of EquipmentShare.com from $24.00 to $22.00 and set a "neutral" rating for the company in a research note on Thursday, August 20th. Citigroup cut their target price on shares of EquipmentShare.com from $17.00 to $16.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 20th. Wells Fargo & Company reduced their target price on shares of EquipmentShare.com from $25.00 to $19.00 and set an "overweight" rating on the stock in a report on Monday, October 26th. Truist Financial decreased their price target on shares of EquipmentShare.com from $35.00 to $31.00 and set a "buy" rating for the company in a research report on Monday, October 5th. Finally, Weiss Ratings downgraded shares of EquipmentShare.com from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, September 25th. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $30.00.

Insider Activity

In related news, insider William Schlacks acquired 4,000 shares of the stock in a transaction dated Tuesday, August 18th. The stock was acquired at an average cost of $19.56 per share, with a total value of $78,240.00. Following the completion of the transaction, the insider owned 58,950 shares in the company, valued at $1,153,062. This represents a 7.28% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jabbok Schlacks acquired 22,900 shares of the stock in a transaction dated Tuesday, September 15th. The shares were bought at an average cost of $17.76 per share, with a total value of $406,704.00. Following the completion of the transaction, the chief executive officer owned 125,000 shares of the company's stock, valued at approximately $2,220,000. This represents a 22.43% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders purchased 85,950 shares of company stock worth $1,537,422 and sold 2,201,032 shares worth $45,393,501. Company insiders own 32.81% of the company's stock.

EquipmentShare.com announced that its Board of Directors has authorized a stock buyback program on Wednesday, July 22nd that authorizes the company to buy back $500 million in outstanding shares. This buyback authorization authorizes the company to buy up to 11.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

About EquipmentShare.com

EquipmentShare.com is a construction equipment rental and technology company serving contractors and other customers in the United States. Its offerings include heavy equipment, tools, aerial equipment and other machinery, along with equipment sales, parts and maintenance services.

The company also provides T3, a technology platform designed to help customers manage equipment, track assets and coordinate construction operations. By combining rentals with fleet and jobsite management tools, EquipmentShare aims to support customers' equipment needs both on and off the jobsite.

EquipmentShare was founded in 2015 by brothers Willy and Jabbok Schlacks and is headquartered in Columbia, Missouri.

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