WillScot Mobile Mini (NASDAQ:WSC) Releases Quarterly Earnings Results, Misses Estimates By $0.10 EPS

WillScot Mobile Mini (NASDAQ:WSC) announced its quarterly earnings results on Wednesday. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.10), Briefing.com reports. The company had revenue of $601.43 million during the quarter, compared to the consensus estimate of $617.83 million. WillScot Mobile Mini had a net margin of 7.77% and a return on equity of 24.27%. The business’s revenue was down .6% compared to the same quarter last year. During the same period last year, the company earned $0.46 earnings per share. WillScot Mobile Mini updated its FY 2024 guidance to EPS.

WillScot Mobile Mini Stock Performance

NASDAQ:WSC traded down $5.28 during mid-day trading on Thursday, hitting $33.60. 8,713,319 shares of the stock were exchanged, compared to its average volume of 2,119,598. The firm’s 50-day simple moving average is $38.10 and its 200 day simple moving average is $38.33. The stock has a market capitalization of $6.39 billion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 1.25 and a beta of 1.35. WillScot Mobile Mini has a fifty-two week low of $32.71 and a fifty-two week high of $52.16. The company has a debt-to-equity ratio of 2.88, a quick ratio of 0.83 and a current ratio of 0.91.

Insiders Place Their Bets

In other WillScot Mobile Mini news, CEO Bradley Lee Soultz acquired 5,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was acquired at an average price of $38.97 per share, for a total transaction of $194,850.00. Following the purchase, the chief executive officer now directly owns 149,686 shares of the company’s stock, valued at $5,833,263.42. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.30% of the company’s stock.

Wall Street Analysts Forecast Growth

WSC has been the topic of several recent analyst reports. Robert W. Baird cut their price objective on WillScot Mobile Mini from $42.00 to $38.00 and set a “neutral” rating on the stock in a report on Thursday. Oppenheimer reduced their price target on shares of WillScot Mobile Mini from $53.00 to $46.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Barclays lowered shares of WillScot Mobile Mini from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $50.00 to $44.00 in a report on Thursday, September 19th. DA Davidson reduced their target price on shares of WillScot Mobile Mini from $54.00 to $47.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Finally, Baird R W lowered WillScot Mobile Mini from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $45.40.

About WillScot Mobile Mini

WillScot Holdings Corporation provides workspace and portable storage solutions in the United States, Canada, and Mexico. It operates in two segments, Modular Solutions and Storage Solutions. Its modular solutions include panelized and stackable offices, single-wide modular space units, section modulars and redi-plex, classrooms, ground level offices, blast-resistant modules, clearspan structures, and other modular space; and portable storage solutions, such as portable and cold storage containers, as well as trailers.