H&E Equipment Services, Inc. (NASDAQ:HEES) announced a quarterly dividend on Wednesday, August 8th, RTT News reports. Stockholders of record on Tuesday, August 21st will be paid a dividend of 0.275 per share by the industrial products company on Friday, September 7th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Monday, August 20th.
H&E Equipment Services has raised its dividend payment by an average of 30.1% annually over the last three years. H&E Equipment Services has a payout ratio of 53.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect H&E Equipment Services to earn $2.34 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 47.0%.
Shares of NASDAQ:HEES opened at $33.56 on Friday. The company has a market capitalization of $1.23 billion, a PE ratio of 9.64, a P/E/G ratio of 0.89 and a beta of 2.46. H&E Equipment Services has a twelve month low of $20.16 and a twelve month high of $44.24. The company has a quick ratio of 0.50, a current ratio of 0.92 and a debt-to-equity ratio of 4.12.
H&E Equipment Services (NASDAQ:HEES) last issued its quarterly earnings results on Thursday, July 26th. The industrial products company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.14. The company had revenue of $310.40 million during the quarter, compared to analyst estimates of $282.25 million. H&E Equipment Services had a net margin of 11.08% and a return on equity of 42.25%. The business’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.28 EPS. equities analysts forecast that H&E Equipment Services will post 2.07 earnings per share for the current year.
HEES has been the subject of several recent research reports. Bank of America cut their target price on shares of H&E Equipment Services from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, July 27th. BidaskClub lowered shares of H&E Equipment Services from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 13th. ValuEngine raised shares of H&E Equipment Services from a “hold” rating to a “buy” rating in a research note on Wednesday, May 9th. Zacks Investment Research lowered shares of H&E Equipment Services from a “hold” rating to a “sell” rating in a research note on Wednesday, June 27th. Finally, UBS Group raised shares of H&E Equipment Services from a “sell” rating to a “neutral” rating and set a $18.00 target price for the company in a research note on Wednesday, June 27th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $38.40.
In related news, CEO John Engquist sold 2,100 shares of the stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $40.05, for a total transaction of $84,105.00. Following the completion of the sale, the chief executive officer now directly owns 2,512,191 shares of the company’s stock, valued at $100,613,249.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 11.70% of the stock is owned by corporate insiders.
About H&E Equipment Services
H&E Equipment Services, Inc operates as an integrated equipment services company. The company rents, sells, and provides parts and support services for hi-lift or aerial work platform equipment, cranes, earthmoving equipment, and industrial lift trucks. It offers heavy construction and industrial equipment for rent on a daily, weekly, and monthly basis.
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