WillScot Mobile Mini (NASDAQ:WSC) Releases Quarterly Earnings Results

WillScot Mobile Mini (NASDAQ:WSC) announced its earnings results on Thursday. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.01), Briefing.com reports. WillScot Mobile Mini had a net margin of 13.48% and a return on equity of 24.14%. The company had revenue of $604.59 million during the quarter, compared to analysts’ expectations of $614.85 million. During the same quarter last year, the business posted $0.43 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. WillScot Mobile Mini updated its FY 2024 guidance to EPS.

WillScot Mobile Mini Price Performance

WSC stock traded down $4.31 during midday trading on Friday, hitting $35.50. 6,336,435 shares of the stock were exchanged, compared to its average volume of 2,044,122. WillScot Mobile Mini has a fifty-two week low of $34.40 and a fifty-two week high of $52.16. The stock has a market cap of $6.75 billion, a price-to-earnings ratio of 22.23, a PEG ratio of 1.17 and a beta of 1.38. The stock’s 50-day moving average price is $38.97 and its 200-day moving average price is $42.37. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.89 and a current ratio of 0.97.

Analysts Set New Price Targets

Several research firms have recently commented on WSC. Oppenheimer reduced their price target on WillScot Mobile Mini from $53.00 to $46.00 and set an “outperform” rating for the company in a report on Friday. Robert W. Baird reduced their price target on WillScot Mobile Mini from $55.00 to $45.00 and set an “outperform” rating for the company in a report on Monday, April 22nd. DA Davidson reduced their price target on WillScot Mobile Mini from $56.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. Stifel Nicolaus reduced their price target on WillScot Mobile Mini from $48.00 to $46.00 and set a “buy” rating for the company in a report on Friday. Finally, Bank of America reduced their price target on WillScot Mobile Mini from $56.00 to $54.00 and set a “buy” rating for the company in a report on Friday. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $50.20.

Insider Transactions at WillScot Mobile Mini

In related news, CEO Bradley Lee Soultz purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was bought at an average cost of $38.44 per share, with a total value of $192,200.00. Following the completion of the acquisition, the chief executive officer now directly owns 157,771 shares in the company, valued at approximately $6,064,717.24. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 3.30% of the company’s stock.

About WillScot Mobile Mini

WillScot Mobile Mini Holdings Corp. provides workspace and portable storage solutions in the United States, Canada, and Mexico. It operates in two segments, Modular Solutions and Storage Solutions. Its modular solutions include panelized and stackable offices, single-wide modular space units, section modulars and redi-plex, classrooms, ground level offices, blast-resistant modules, clearspan structures, and other modular space; and portable storage solutions, such as portable and cold storage containers, as well as trailers.