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

WillScot Mobile Mini (NASDAQ:WSC) issued its quarterly earnings results on Wednesday. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.10), Briefing.com reports. The business had revenue of $601.43 million for 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 quarter last year, the business posted $0.46 EPS. WillScot Mobile Mini updated its FY 2024 guidance to EPS.

WillScot Mobile Mini Trading Down 14.1 %

Shares of WSC traded down $5.48 during mid-day trading on Thursday, hitting $33.40. 7,778,889 shares of the company’s stock traded hands, compared to its average volume of 2,112,582. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 2.88. WillScot Mobile Mini has a 1 year low of $32.71 and a 1 year high of $52.16. The firm has a market capitalization of $6.35 billion, a P/E ratio of 21.42, a PEG ratio of 1.25 and a beta of 1.35. The business’s 50-day moving average price is $38.10 and its 200-day moving average price is $38.33.

Analysts Set New Price Targets

A number of analysts have recently issued reports on WSC shares. DA Davidson dropped their price target on WillScot Mobile Mini from $54.00 to $47.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft downgraded WillScot Mobile Mini from a “buy” rating to a “hold” rating and dropped their target price for the stock from $46.00 to $35.00 in a research report on Thursday. Bank of America dropped their target price on WillScot Mobile Mini from $56.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Stifel Nicolaus dropped their target price on WillScot Mobile Mini from $48.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, Baird R W downgraded WillScot Mobile Mini from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $45.40.

Insider Activity

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

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.