H&E Equipment Services (NASDAQ:HEES) Stock Price Down 6.6% After Earnings Miss

Shares of H&E Equipment Services, Inc. (NASDAQ:HEES - Get Free Report) dropped 6.6% on Wednesday following a dissappointing earnings announcement. The stock traded as low as $44.90 and last traded at $45.12. Approximately 362,037 shares changed hands during mid-day trading, an increase of 57% from the average daily volume of 230,331 shares. The stock had previously closed at $48.29.

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 return on equity of 36.72% and a net margin of 11.52%. The company had revenue of $371.20 million for the quarter, compared to the consensus estimate of $352.52 million. During the same period in the prior year, the company earned $0.71 earnings per share. The firm's revenue was up 15.1% compared to the same quarter last year.

H&E Equipment Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 23rd were paid a $0.275 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.10 dividend on an annualized basis and a yield of 2.46%. H&E Equipment Services's dividend payout ratio (DPR) is presently 23.55%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on HEES shares. Wells Fargo & Company increased their target price on H&E Equipment Services from $62.00 to $63.00 and gave the stock an "overweight" rating in a report on Friday, February 23rd. StockNews.com upgraded shares of H&E Equipment Services from a "hold" rating to a "buy" rating in a report on Wednesday, February 21st. Finally, Stifel Nicolaus dropped 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.

Insider Buying and Selling at H&E Equipment Services

In other news, CEO Bradley W. Barber sold 9,615 shares of the company's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $57.80, for a total value of $555,747.00. Following the completion of the sale, the chief executive officer now owns 223,127 shares in the company, valued at approximately $12,896,740.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Bradley W. Barber sold 1,900 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $60.41, for a total transaction of $114,779.00. Following the completion of the sale, the chief executive officer now directly owns 244,753 shares of the company's stock, valued at $14,785,528.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Bradley W. Barber sold 9,615 shares of the business's stock in a transaction on Monday, March 4th. The stock was sold at an average price of $57.80, for a total value of $555,747.00. Following the completion of the transaction, the chief executive officer now directly owns 223,127 shares in the company, valued at approximately $12,896,740.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 75,800 shares of company stock worth $4,534,789. Corporate insiders own 12.50% of the company's stock.

Institutional Investors Weigh In On H&E Equipment Services

Large investors have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in H&E Equipment Services during the third quarter worth about $494,000. Redwood Investments LLC increased its stake in shares of H&E Equipment Services by 21.9% during the 3rd quarter. Redwood Investments LLC now owns 280,891 shares of the industrial products company's stock worth $12,132,000 after purchasing an additional 50,410 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of H&E Equipment Services by 1.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 307,891 shares of the industrial products company's stock worth $13,298,000 after purchasing an additional 5,840 shares during the period. Strs Ohio lifted its stake in H&E Equipment Services by 81.4% in the third 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 during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake 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 valued at $13,385,000 after purchasing an additional 25,599 shares during the last quarter. 84.08% of the stock is owned by hedge funds and other institutional investors.

H&E Equipment Services Trading Down 7.2 %

The firm has a market capitalization of $1.64 billion, a P/E ratio of 9.59, a price-to-earnings-growth ratio of 0.83 and a beta of 1.95. The firm has a fifty day simple moving average of $59.30 and a two-hundred day simple moving average of $52.20. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.05 and a quick ratio of 0.74.

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.