WillScot (NASDAQ:WSC) Posts Earnings Results, Beats Expectations By $0.03 EPS

Key Points

• WillScot beat quarterly expectations, reporting EPS of $0.28 versus the $0.25 consensus estimate and revenue of $612.15 million, above forecasts of $585.43 million.
• Despite the earnings beat, shares fell 2.8% to $25.82. The stock carries significant leverage, with a debt-to-equity ratio of 4.00, while its consensus analyst rating remains Hold with a $26.25 average price target.
• Institutional investors own 95.81% of the company, while insiders have sold 155,781 shares worth about $4.2 million over the past 90 days.

WillScot (NASDAQ:WSC - Get Free Report) issued its quarterly earnings data on Thursday. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03, FiscalAI reports. The firm had revenue of $612.15 million for the quarter, compared to analyst estimates of $585.43 million. WillScot had a negative net margin of 2.99% and a positive return on equity of 20.65%.

WillScot Stock Down 2.8%

Shares of WSC stock traded down $0.74 during trading hours on Thursday, reaching $25.82. 2,927,583 shares of the stock were exchanged, compared to its average volume of 2,221,644. The business's fifty day moving average is $26.83 and its two-hundred day moving average is $23.13. The company has a debt-to-equity ratio of 4.00, a current ratio of 0.79 and a quick ratio of 0.72. WillScot has a 12-month low of $14.91 and a 12-month high of $29.77. The firm has a market capitalization of $4.67 billion, a P/E ratio of -67.95, a P/E/G ratio of 1.59 and a beta of 1.33.

Insider Transactions at WillScot

In related news, Director Bradley Lee Soultz sold 86,421 shares of WillScot stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $26.99, for a total value of $2,332,502.79. Following the completion of the transaction, the director owned 197,595 shares in the company, valued at $5,333,089.05. The trade was a 30.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 155,781 shares of company stock valued at $4,205,113 in the last ninety days. 3.40% of the stock is owned by insiders.

Institutional Investors Weigh In On WillScot

Hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada lifted its stake in WillScot by 24.6% during the first quarter. Royal Bank of Canada now owns 33,684 shares of the company's stock worth $936,000 after purchasing an additional 6,651 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in WillScot by 1.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 724,638 shares of the company's stock worth $20,145,000 after purchasing an additional 8,963 shares in the last quarter. Creative Planning raised its holdings in WillScot by 6.9% during the second quarter. Creative Planning now owns 15,814 shares of the company's stock worth $433,000 after purchasing an additional 1,024 shares in the last quarter. American Century Companies Inc. lifted its position in shares of WillScot by 3.0% during the 2nd quarter. American Century Companies Inc. now owns 46,781 shares of the company's stock worth $1,282,000 after buying an additional 1,374 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its position in shares of WillScot by 48.8% during the 2nd quarter. Hsbc Holdings PLC now owns 11,676 shares of the company's stock worth $320,000 after buying an additional 3,827 shares during the last quarter. 95.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the company. UBS Group began coverage on WillScot in a research note on Wednesday, April 8th. They set a "neutral" rating and a $19.00 price target on the stock. Weiss Ratings restated a "sell (d)" rating on shares of WillScot in a report on Wednesday, May 20th. Morgan Stanley lifted their target price on WillScot from $23.00 to $29.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 12th. Robert W. Baird set a $26.00 price target on shares of WillScot in a research report on Friday, May 8th. Finally, Oppenheimer reissued an "outperform" rating and issued a $29.00 price objective on shares of WillScot in a research note on Friday, May 8th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $26.25.

About WillScot

WillScot NASDAQ: WSC is a leading North American provider of modular space and portable storage solutions. The company designs, manufactures, leases and sells temporary and permanent modular buildings to serve sectors such as education, healthcare, construction, industrial and government. Its modular space offerings range from single‐unit office trailers and classrooms to complex multi‐unit configurations tailored to diverse project requirements.

In addition to modular structures, WillScot offers a broad portfolio of portable storage containers and related services, including site logistics, customization, delivery and installation.

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