Zacks: Brokerages Anticipate WillScot Corp (NASDAQ:WSC) to Announce -$0.03 EPS

Brokerages forecast that WillScot Corp (NASDAQ:WSC) will report ($0.03) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for WillScot’s earnings, with the lowest EPS estimate coming in at ($0.09) and the highest estimate coming in at $0.01. The business is expected to issue its next earnings report on Tuesday, August 6th.

On average, analysts expect that WillScot will report full year earnings of $0.11 per share for the current fiscal year, with EPS estimates ranging from ($0.04) to $0.22. For the next year, analysts expect that the company will post earnings of $0.77 per share, with EPS estimates ranging from $0.53 to $1.09. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for WillScot.

WillScot (NASDAQ:WSC) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.03). WillScot had a negative net margin of 6.34% and a positive return on equity of 0.95%. The business had revenue of $255.00 million for the quarter, compared to the consensus estimate of $254.20 million. The firm’s quarterly revenue was up 89.2% compared to the same quarter last year.

WSC has been the subject of a number of analyst reports. Zacks Investment Research raised shares of WillScot from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research note on Thursday, April 18th. Bank of America initiated coverage on shares of WillScot in a research note on Tuesday, April 2nd. They set a “buy” rating and a $13.50 target price for the company. Finally, TheStreet raised shares of WillScot from a “d-” rating to a “c-” rating in a research note on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $16.79.

In related news, Director Mark S. Bartlett purchased 35,000 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was purchased at an average cost of $11.56 per share, with a total value of $404,600.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 66.27% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Castleark Management LLC acquired a new position in shares of WillScot during the fourth quarter valued at about $2,983,000. Bank of Montreal Can grew its holdings in shares of WillScot by 3,531.9% during the fourth quarter. Bank of Montreal Can now owns 9,007 shares of the company’s stock valued at $85,000 after buying an additional 8,759 shares during the last quarter. Chescapmanager LLC boosted its holdings in WillScot by 12.8% during the fourth quarter. Chescapmanager LLC now owns 1,834,418 shares of the company’s stock worth $17,280,000 after purchasing an additional 208,218 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in WillScot by 8.8% during the first quarter. JPMorgan Chase & Co. now owns 6,850,682 shares of the company’s stock worth $75,973,000 after purchasing an additional 553,033 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in WillScot by 25.1% during the third quarter. Bank of New York Mellon Corp now owns 127,179 shares of the company’s stock worth $2,181,000 after purchasing an additional 25,497 shares during the last quarter. Hedge funds and other institutional investors own 48.04% of the company’s stock.

NASDAQ WSC traded down $0.01 during mid-day trading on Friday, reaching $14.50. 350,784 shares of the stock were exchanged, compared to its average volume of 441,912. WillScot has a one year low of $8.21 and a one year high of $18.19. The company has a market capitalization of $1.69 billion, a PE ratio of 76.32, a P/E/G ratio of 8.60 and a beta of 1.82. The company has a quick ratio of 1.03, a current ratio of 1.10 and a debt-to-equity ratio of 2.46.

About WillScot

Willscot Corp. operates as a holding company, which engages in the provision of modular space and portable storage markets. Its services include furniture rental, transportation and logistics, storage & facilities services and commercial real estate. The company was founded by Albert Vaughn Williams in 1944 and is headquartered in Baltimore, MD.

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Earnings History and Estimates for WillScot (NASDAQ:WSC)

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