WillScot Mobile Mini (NASDAQ:WSC) Shares Gap Down After Earnings Miss

WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $38.88, but opened at $34.00. WillScot Mobile Mini shares last traded at $34.37, with a volume of 3,267,090 shares traded.

The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.10). The company had revenue of $601.43 million during the quarter, compared to analysts’ expectations of $617.83 million. WillScot Mobile Mini had a return on equity of 24.27% and a net margin of 7.77%. WillScot Mobile Mini’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.46 EPS.

Analyst Ratings Changes

A number of equities research analysts have recently commented on WSC shares. Oppenheimer dropped their price objective on shares of WillScot Mobile Mini from $53.00 to $46.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Barclays downgraded WillScot Mobile Mini from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $50.00 to $44.00 in a report on Thursday, September 19th. Stifel Nicolaus reduced their price objective on WillScot Mobile Mini from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Baird R W lowered shares of WillScot Mobile Mini from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Robert W. Baird reduced their price objective on WillScot Mobile Mini from $42.00 to $38.00 and set a “neutral” rating for the company in a research note on Thursday. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $45.40.

Insider Activity at WillScot Mobile Mini

In other news, CEO Bradley Lee Soultz purchased 5,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were bought at an average price of $38.97 per share, with a total value of $194,850.00. Following the completion of the transaction, the chief executive officer now directly owns 149,686 shares in the company, valued at $5,833,263.42. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On WillScot Mobile Mini

Several institutional investors have recently modified their holdings of WSC. V Square Quantitative Management LLC acquired a new stake in WillScot Mobile Mini during the 3rd quarter valued at $25,000. Hexagon Capital Partners LLC boosted its position in shares of WillScot Mobile Mini by 200.0% during the third quarter. Hexagon Capital Partners LLC now owns 900 shares of the company’s stock valued at $34,000 after buying an additional 600 shares during the last quarter. Financial Management Professionals Inc. bought a new stake in WillScot Mobile Mini in the 3rd quarter worth about $36,000. Fidelis Capital Partners LLC purchased a new position in shares of WillScot Mobile Mini in the 1st quarter worth approximately $55,000. Finally, Summit Securities Group LLC purchased a new position in WillScot Mobile Mini in the second quarter worth $56,000. 95.81% of the stock is currently owned by institutional investors and hedge funds.

WillScot Mobile Mini Trading Down 10.6 %

The firm has a 50-day moving average price of $38.10 and a 200-day moving average price of $38.33. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 2.88. The stock has a market capitalization of $6.61 billion, a PE ratio of 21.42, a price-to-earnings-growth ratio of 1.25 and a beta of 1.35.

WillScot Mobile Mini Company Profile

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.