WillScot Mobile Mini (NASDAQ:WSC) Shares Gap Down on Disappointing Earnings

WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) gapped down before the market opened 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 changing hands.

The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.10). 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 1.05% and a return on equity of 22.99%. WillScot Mobile Mini’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the company earned $0.46 EPS.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WSC. DA Davidson reduced their price objective on shares of WillScot Mobile Mini from $54.00 to $47.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Bank of America decreased their price objective on shares of 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. Deutsche Bank Aktiengesellschaft lowered WillScot Mobile Mini from a “buy” rating to a “hold” rating and cut their target price for the company from $46.00 to $35.00 in a research report on Thursday. Barclays lowered their target price on WillScot Mobile Mini from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Friday. Finally, Baird R W downgraded shares of WillScot Mobile Mini from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Six 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, WillScot Mobile Mini currently has an average rating of “Hold” and an average price target of $45.00.

Insider Transactions at WillScot Mobile Mini

In other news, CEO Bradley Lee Soultz acquired 5,000 shares of WillScot Mobile Mini stock in a transaction that occurred on Wednesday, September 18th. The stock was bought at an average price 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 in the company, valued at approximately $5,833,263.42. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On WillScot Mobile Mini

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC bought a new stake in shares of WillScot Mobile Mini during the 3rd quarter valued at about $25,000. Hexagon Capital Partners LLC raised its stake in WillScot Mobile Mini by 200.0% in the third quarter. Hexagon Capital Partners LLC now owns 900 shares of the company’s stock valued at $34,000 after purchasing an additional 600 shares in the last quarter. Financial Management Professionals Inc. bought a new stake in shares of WillScot Mobile Mini during the 3rd quarter worth $36,000. Fidelis Capital Partners LLC bought a new stake in WillScot Mobile Mini during the first quarter worth about $55,000. Finally, Summit Securities Group LLC bought a new stake in WillScot Mobile Mini in the 2nd quarter worth approximately $56,000. 95.81% of the stock is currently owned by hedge funds and other institutional investors.

WillScot Mobile Mini Trading Up 10.3 %

The stock has a market capitalization of $6.89 billion, a P/E ratio of 332.18, a price-to-earnings-growth ratio of 1.25 and a beta of 1.35. The stock’s fifty day moving average price is $37.97 and its two-hundred day moving average price is $38.27. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 2.88.

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.