B. Riley Has Negative Forecast for HEES FY2024 Earnings

H&E Equipment Services, Inc. (NASDAQ:HEES) – Stock analysts at B. Riley decreased their FY2024 earnings per share (EPS) estimates for H&E Equipment Services in a note issued to investors on Wednesday, October 30th. B. Riley analyst A. Rygiel now forecasts that the industrial products company will post earnings per share of $3.29 for the year, down from their previous forecast 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 the consensus estimate of $1.00 by ($0.15). The firm had revenue of $384.86 million for the quarter, compared to the consensus estimate of $388.18 million. H&E Equipment Services had a return on equity of 30.84% and a net margin of 10.53%. The firm’s revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.46 EPS.

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

H&E Equipment Services Price Performance

NASDAQ HEES opened at $52.25 on Thursday. The company has a 50-day moving average price of $48.87 and a two-hundred day moving average price of $48.49. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of 13.26, a price-to-earnings-growth ratio of 11.71 and a beta of 1.84. The company has a current ratio of 0.61, a quick ratio of 0.56 and a debt-to-equity ratio of 2.17. H&E Equipment Services has a 52 week low of $39.79 and a 52 week high of $66.18.

H&E Equipment Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th were issued a $0.275 dividend. The ex-dividend date was Wednesday, August 28th. This represents a $1.10 annualized dividend and a dividend yield of 2.11%. H&E Equipment Services’s dividend payout ratio (DPR) is 27.92%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of H&E Equipment Services by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 3,804,017 shares of the industrial products company’s stock worth $199,026,000 after purchasing an additional 51,626 shares during the last quarter. Diversified Trust Co grew its position in H&E Equipment Services by 31.6% in the first quarter. Diversified Trust Co now owns 9,524 shares of the industrial products company’s stock worth $611,000 after buying an additional 2,288 shares during the last quarter. Principal Financial Group Inc. bought a new position in shares of H&E Equipment Services in the first quarter valued at $278,000. Capstone Investment Advisors LLC acquired a new stake in shares of H&E Equipment Services during the 1st quarter valued at $217,000. Finally, Fidelis Capital Partners LLC bought a new stake in shares of H&E Equipment Services during the 1st quarter worth $62,000. 84.08% of the stock is owned by institutional investors and hedge funds.

H&E Equipment Services Company Profile

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.