H&E Equipment Services, Inc. (NASDAQ:HEES) declared a quarterly dividend on Friday, May 10th, RTT News reports. Stockholders of record on Tuesday, May 28th will be given a dividend of 0.275 per share by the industrial products company on Friday, June 14th. This represents a $1.10 annualized dividend and a dividend yield of 4.03%. The ex-dividend date is Friday, May 24th.
H&E Equipment Services has raised its dividend payment by an average of 1.6% annually over the last three years. H&E Equipment Services has a payout ratio of 53.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect H&E Equipment Services to earn $2.56 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 43.0%.
HEES traded down $0.41 during trading hours on Friday, hitting $27.28. 139,500 shares of the stock were exchanged, compared to its average volume of 232,397. H&E Equipment Services has a 12 month low of $18.12 and a 12 month high of $40.20. The stock has a market capitalization of $970.35 million, a PE ratio of 12.81, a price-to-earnings-growth ratio of 1.08 and a beta of 2.83. The company has a debt-to-equity ratio of 3.61, a current ratio of 0.74 and a quick ratio of 0.44.
H&E Equipment Services (NASDAQ:HEES) last issued its earnings results on Thursday, April 25th. The industrial products company reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.11. H&E Equipment Services had a return on equity of 32.93% and a net margin of 6.30%. The firm had revenue of $313.60 million for the quarter, compared to analyst estimates of $288.61 million. During the same period last year, the company earned $0.26 earnings per share. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, research analysts anticipate that H&E Equipment Services will post 2.48 earnings per share for the current fiscal year.
A number of research analysts have recently commented on HEES shares. BidaskClub lowered H&E Equipment Services from a “hold” rating to a “sell” rating in a report on Saturday, March 9th. UBS Group set a $31.00 target price on H&E Equipment Services and gave the stock a “hold” rating in a report on Friday, April 26th. Bank of America reaffirmed a “buy” rating and set a $35.00 target price (up from $32.00) on shares of H&E Equipment Services in a report on Monday, April 29th. Finally, Zacks Investment Research raised H&E Equipment Services from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a report on Thursday, March 7th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $31.60.
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About H&E Equipment Services
H&E Equipment Services, Inc operates as an integrated equipment services company. The company operates in five segments: Equipment Rentals, New Equipment Sales, Used Equipment Sales, Parts Sales, and Repair and Maintenance Services. It rents, sells, and provides parts and support services for hi-lift or aerial work platform equipment, cranes, earthmoving equipment, and industrial lift trucks.
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