H&E Equipment Services (NASDAQ:HEES) Coverage Initiated by Analysts at KeyCorp

KeyCorp assumed coverage on shares of H&E Equipment Services (NASDAQ:HEES) in a research note published on Friday, MarketBeat Ratings reports. The firm issued a sector weight rating on the industrial products company’s stock. KeyCorp also issued estimates for H&E Equipment Services’ Q3 2024 earnings at $0.99 EPS, Q4 2024 earnings at $0.95 EPS, FY2024 earnings at $3.56 EPS, Q1 2025 earnings at $0.69 EPS, Q2 2025 earnings at $0.95 EPS and FY2025 earnings at $4.08 EPS.

A number of other research analysts have also recently issued reports on the company. StockNews.com cut H&E Equipment Services from a buy rating to a hold rating in a research note on Thursday, May 2nd. UBS Group decreased their target price on H&E Equipment Services from $66.00 to $63.00 and set a buy rating for the company in a research note on Friday, May 24th. Raymond James started coverage on H&E Equipment Services in a research report on Friday, June 28th. They set a market perform rating for the company. Finally, Stifel Nicolaus reduced their price objective on H&E Equipment Services from $65.00 to $62.00 and set a buy rating for the company in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, H&E Equipment Services presently has an average rating of Moderate Buy and an average target price of $62.67.

H&E Equipment Services Trading Down 0.9 %

NASDAQ HEES opened at $44.29 on Friday. H&E Equipment Services has a 12 month low of $38.06 and a 12 month high of $66.18. The company has a current ratio of 0.61, a quick ratio of 0.62 and a debt-to-equity ratio of 2.17. The company has a market capitalization of $1.62 billion, a PE ratio of 9.48, a P/E/G ratio of 9.98 and a beta of 1.89. The stock has a 50-day simple moving average of $46.50 and a 200 day simple moving average of $52.39.

H&E Equipment Services (NASDAQ:HEES) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.12). H&E Equipment Services had a net margin of 10.53% and a return on equity of 30.84%. The business had revenue of $376.30 million during the quarter, compared to analyst estimates of $382.05 million. During the same period in the previous year, the firm posted $1.14 earnings per share. The firm’s revenue was up 4.5% on a year-over-year basis. Research analysts forecast that H&E Equipment Services will post 3.73 EPS for the current year.

H&E Equipment Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Thursday, May 30th were given a dividend of $0.275 per share. The ex-dividend date was Thursday, May 30th. This represents a $1.10 annualized dividend and a dividend yield of 2.48%. H&E Equipment Services’s dividend payout ratio is currently 23.55%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of HEES. CWM LLC raised its holdings in H&E Equipment Services by 42.5% during the second quarter. CWM LLC now owns 932 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 278 shares in the last quarter. Federated Hermes Inc. raised its holdings in H&E Equipment Services by 0.7% during the second quarter. Federated Hermes Inc. now owns 46,350 shares of the industrial products company’s stock worth $2,047,000 after acquiring an additional 326 shares in the last quarter. Arizona State Retirement System raised its holdings in H&E Equipment Services by 3.9% during the fourth quarter. Arizona State Retirement System now owns 9,153 shares of the industrial products company’s stock worth $479,000 after acquiring an additional 347 shares in the last quarter. ProShare Advisors LLC raised its holdings in H&E Equipment Services by 8.5% during the first quarter. ProShare Advisors LLC now owns 5,781 shares of the industrial products company’s stock worth $371,000 after acquiring an additional 454 shares in the last quarter. Finally, Diversified Trust Co raised its holdings in H&E Equipment Services by 5.3% during the second quarter. Diversified Trust Co now owns 10,027 shares of the industrial products company’s stock worth $443,000 after acquiring an additional 503 shares in the last quarter. 84.08% of the stock is owned by institutional investors and hedge funds.

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.