H&E Equipment Services (HEES) Bonds Trading 0.5% Lower

An issue of H&E Equipment Services, Inc. (NASDAQ:HEES) debt fell 0.5% against its face value during trading on Wednesday. The high-yield debt issue has a 5.625% coupon and will mature on September 1, 2025. The bonds in the issue are now trading at $105.00. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its share price.

A number of brokerages have recently weighed in on HEES. ValuEngine upgraded shares of H&E Equipment Services from a “hold” rating to a “buy” rating in a report on Sunday. Buckingham Research initiated coverage on shares of H&E Equipment Services in a report on Tuesday, November 21st. They set a “buy” rating and a $39.00 price target for the company. Zacks Investment Research upgraded shares of H&E Equipment Services from a “hold” rating to a “strong-buy” rating and set a $38.00 price target for the company in a report on Tuesday, October 31st. UBS Group upped their price target on shares of H&E Equipment Services from $16.00 to $17.00 and gave the company a “sell” rating in a report on Friday, October 27th. Finally, Bank of America initiated coverage on shares of H&E Equipment Services in a report on Tuesday, September 26th. They set a “buy” rating and a $33.00 price target for the company. One research analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $31.40.

Shares of H&E Equipment Services, Inc. (NASDAQ:HEES) traded down $0.88 during trading on Wednesday, reaching $38.20. 472,245 shares of the company’s stock were exchanged, compared to its average volume of 465,150. The company has a current ratio of 1.06, a quick ratio of 0.71 and a debt-to-equity ratio of 5.29. The stock has a market cap of $1,360.00, a P/E ratio of 37.45, a P/E/G ratio of 1.40 and a beta of 2.90. H&E Equipment Services, Inc. has a fifty-two week low of $17.44 and a fifty-two week high of $41.06.

H&E Equipment Services (NASDAQ:HEES) last released its earnings results on Thursday, October 26th. The industrial products company reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.32. The firm had revenue of $259.16 million for the quarter, compared to the consensus estimate of $252.94 million. H&E Equipment Services had a net margin of 3.69% and a return on equity of 38.83%. The company’s revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 EPS. sell-side analysts expect that H&E Equipment Services, Inc. will post 1.6 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, December 11th. Stockholders of record on Monday, November 20th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date was Friday, November 17th. H&E Equipment Services’s dividend payout ratio is presently 107.84%.

Large investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. grew its position in H&E Equipment Services by 25.0% during the 2nd quarter. Alliancebernstein L.P. now owns 1,539,181 shares of the industrial products company’s stock valued at $31,415,000 after purchasing an additional 307,979 shares during the last quarter. Bank of New York Mellon Corp grew its position in H&E Equipment Services by 3.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 553,184 shares of the industrial products company’s stock valued at $11,289,000 after purchasing an additional 18,143 shares during the last quarter. Macquarie Group Ltd. grew its position in H&E Equipment Services by 12.4% during the 2nd quarter. Macquarie Group Ltd. now owns 2,391,042 shares of the industrial products company’s stock valued at $48,801,000 after purchasing an additional 263,383 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in H&E Equipment Services by 5.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 285,594 shares of the industrial products company’s stock valued at $5,829,000 after purchasing an additional 15,795 shares during the last quarter. Finally, Harvey Partners LLC grew its position in H&E Equipment Services by 13.0% during the 3rd quarter. Harvey Partners LLC now owns 113,000 shares of the industrial products company’s stock valued at $3,300,000 after purchasing an additional 13,000 shares during the last quarter. 75.45% of the stock is currently owned by hedge funds and other institutional investors.

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About H&E Equipment Services

H&E Equipment Services, Inc is an integrated equipment services company. The Company is focused on heavy construction and industrial equipment. As of December 31, 2016, the Company rented, sold and provided parts and services support for four core categories of specialized equipment: hi-lift or aerial work platform equipment; cranes; earthmoving equipment, and industrial lift trucks.

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