H&E Equipment Services, Inc. to Post Q3 2024 Earnings of $1.33 Per Share, B. Riley Forecasts (NASDAQ:HEES)

H&E Equipment Services, Inc. (NASDAQ:HEES - Free Report) - B. Riley dropped their Q3 2024 earnings per share (EPS) estimates for H&E Equipment Services in a note issued to investors on Wednesday, May 1st. B. Riley analyst A. Rygiel now forecasts that the industrial products company will post earnings per share of $1.33 for the quarter, down from their previous forecast 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.

Several other equities analysts have also recently weighed in on the company. Wells Fargo & Company boosted their price objective on H&E Equipment Services from $62.00 to $63.00 and gave the stock an "overweight" rating in a research report on Friday, February 23rd. StockNews.com lowered H&E Equipment Services from a "buy" rating to a "hold" rating in a report on Thursday. Finally, Stifel Nicolaus lowered 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 Stock Performance

HEES stock traded up $2.26 during mid-day trading on Thursday, reaching $47.05. 676,586 shares of the stock traded hands, compared to its average volume of 241,112. The firm has a market capitalization of $1.72 billion, a PE ratio of 10.07, a P/E/G ratio of 0.67 and a beta of 1.98. The business has a 50-day moving average of $59.17 and a two-hundred day moving average of $52.17. H&E Equipment Services has a 52 week low of $32.33 and a 52 week high of $66.18. The company has a quick ratio of 0.74, a current ratio of 1.05 and a debt-to-equity ratio of 2.33.

H&E Equipment Services (NASDAQ:HEES - Get Free Report) last posted 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). The firm had revenue of $371.20 million for the quarter, compared to the consensus estimate of $352.52 million. H&E Equipment Services had a return on equity of 35.38% and a net margin of 11.17%. H&E Equipment Services's quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.71 earnings per share.

H&E Equipment Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 23rd were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend was Thursday, February 22nd. H&E Equipment Services's dividend payout ratio (DPR) is presently 23.55%.

Insider Activity at H&E Equipment Services

In other H&E Equipment Services news, CEO Bradley W. Barber sold 15,385 shares of the firm's stock in a transaction that occurred on 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 owns 232,742 shares in the company, valued at approximately $13,391,974.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other H&E Equipment Services news, CEO Bradley W. Barber sold 15,385 shares of the business's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $57.54, for a total value of $885,252.90. Following the sale, the chief executive officer now owns 232,742 shares of the company's stock, valued at approximately $13,391,974.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Bradley W. Barber sold 9,615 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $57.80, for a total transaction of $555,747.00. Following the completion of the transaction, the chief executive officer now owns 223,127 shares of the company's stock, valued at approximately $12,896,740.60. The disclosure for this sale can be found here. Insiders have sold 75,800 shares of company stock worth $4,534,789 over the last three months. Company insiders own 12.50% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in shares of H&E Equipment Services in the 3rd quarter worth approximately $494,000. Redwood Investments LLC raised its stake in H&E Equipment Services by 21.9% during the third quarter. Redwood Investments LLC now owns 280,891 shares of the industrial products company's stock worth $12,132,000 after acquiring an additional 50,410 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of H&E Equipment Services by 1.9% during the third quarter. Bank of New York Mellon Corp now owns 307,891 shares of the industrial products company's stock valued at $13,298,000 after acquiring an additional 5,840 shares during the period. Strs Ohio boosted its stake in shares of H&E Equipment Services by 81.4% in the 3rd quarter. Strs Ohio now owns 7,800 shares of the industrial products company's stock valued at $336,000 after purchasing an additional 3,500 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of H&E Equipment Services by 9.0% in the 3rd 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 during the last quarter. 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.