EquipmentShare.com (NASDAQ:EQPT) Posts Quarterly Earnings Results, Beats Expectations By $0.14 EPS

EquipmentShare.com (NASDAQ:EQPT) announced its quarterly earnings data on Monday. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.14, Zacks reports. The business had revenue of $1.47 billion for the quarter. EquipmentShare.com had a net margin of 1.37% and a return on equity of 16.97%.

EquipmentShare.com Price Performance

Shares of EquipmentShare.com stock traded up $1.71 on Wednesday, hitting $15.24. 2,598,620 shares of the company were exchanged, compared to its average volume of 2,564,141. The company has a quick ratio of 1.91, a current ratio of 2.42 and a debt-to-equity ratio of 3.16. The company has a 50-day moving average price of $16.87 and a 200 day moving average price of $20.97. EquipmentShare.com has a 1-year low of $12.41 and a 1-year high of $35.50. The stock has a market capitalization of $3.86 billion and a price-to-earnings ratio of 117.25.

Insiders Place Their Bets

In related news, insider William Schlacks bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was purchased at an average cost of $18.64 per share, for a total transaction of $37,280.00. Following the completion of the acquisition, the insider owned 60,950 shares in the company, valued at approximately $1,136,108. This trade represents a 3.39% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Neil Chheda sold 1,285,402 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $20.62, for a total value of $26,504,989.24. Following the completion of the transaction, the insider directly owned 40,476,688 shares in the company, valued at $834,629,306.56. This trade represents a 3.08% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have acquired 85,950 shares of company stock worth $1,537,422 and have sold 2,201,032 shares worth $45,393,501. Insiders own 32.81% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Weiss Ratings downgraded EquipmentShare.com from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 25th. UBS Group reduced their price target on EquipmentShare.com from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday, August 20th. Wells Fargo & Company decreased their target price on EquipmentShare.com from $19.00 to $17.00 and set an “overweight” rating for the company in a research report on Wednesday. Truist Financial decreased their price objective on shares of EquipmentShare.com from $35.00 to $31.00 and set a “buy” rating for the company in a report on Monday, October 5th. Finally, Citigroup dropped their target price on shares of EquipmentShare.com from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday, October 20th. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, EquipmentShare.com has a consensus rating of “Hold” and an average target price of $29.78.

EquipmentShare.com declared that its Board of Directors has approved a share repurchase plan on Wednesday, July 22nd that permits the company to repurchase $500 million in outstanding shares. This buyback authorization permits the company to purchase up to 11.3% of its shares through open market purchases. Share buyback plans are usually a sign that the company’s board believes its shares are undervalued.

EquipmentShare.com Company Profile

EquipmentShare.com is a construction equipment rental and technology company serving contractors and other customers in the United States. Its offerings include heavy equipment, tools, aerial equipment and other machinery, along with equipment sales, parts and maintenance services. The company also provides T3, a technology platform designed to help customers manage equipment, track assets and coordinate construction operations. By combining rentals with fleet and jobsite management tools, EquipmentShare aims to support customers’ equipment needs both on and off the jobsite.