Yahoo Finance Why H&E Equipment (HEES) Outpaced the Stock Market Today
H&E Equipment (HEES) closed the most recent trading day at $58.61, moving +1.35% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 1.2% for the day. Meanwhile, the Dow experienced a rise of 0.69%, and the technology-dominated Nasdaq saw an increase of 1.59%.
Heading into today, shares of the construction and industrial equipment service provider had lost 8.58% over the past month, lagging the Industrial Products sector's loss of 3.72% and the S&P 500's loss of 4.16% in that time.
Analysts and investors alike will be keeping a close eye on the performance of H&E Equipment in its upcoming earnings disclosure. The company's earnings report is set to go public on April 30, 2024. The company is forecasted to report an EPS of $0.73, showcasing a 2.82% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $347.83 million, indicating a 7.86% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.02 per share and a revenue of $1.59 billion, representing changes of +5.02% and +8.29%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for H&E Equipment. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, H&E Equipment possesses a Zacks Rank of #1 (Strong Buy).
Investors should also note H&E Equipment's current valuation metrics, including its Forward P/E ratio of 11.4. This denotes a premium relative to the industry's average Forward P/E of 10.64.
Also, we should mention that HEES has a PEG ratio of 0.8. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Manufacturing - Construction and Mining stocks are, on average, holding a PEG ratio of 0.99 based on yesterday's closing prices.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 70, which puts it in the top 28% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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H&E Equipment Services, Inc. (HEES) : Free Stock Analysis Report
