Mobile Mini Stock Price Down 9.5% After Earnings Miss (MINI)
Mobile Mini (NASDAQ:MINI) traded down 9.5% during trading on Thursday following a dissappointing earnings announcement, American Banking News.com reports. The company traded as low as $38.61 and last traded at $39.08, with a volume of 330,686 shares changing hands. The stock had previously closed at $43.20.
The company reported $0.23 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.24 by $0.01. The company had revenue of $106.50 million for the quarter, compared to the consensus estimate of $105.93 million. During the same quarter last year, the company posted $0.25 earnings per share. Mobile Mini’s revenue was up 9.7% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.80%.
Several analysts have recently commented on the stock. Analysts at Robert W. Baird downgraded shares of Mobile Mini from an “outperform” rating to a “neutral” rating in a research note on Thursday. They now have a $48.00 price target on the stock, down previously from $51.00. Separately, analysts at Oppenheimer raised their price target on shares of Mobile Mini from $49.00 to $51.00 in a research note on Tuesday, July 15th. They now have an “outperform” rating on the stock. Finally, analysts at KeyCorp raised their price target on shares of Mobile Mini from $50.00 to $52.00 in a research note on Monday, July 14th. They now have a “buy” rating on the stock. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $49.57.
The stock’s 50-day moving average is $46.55 and its 200-day moving average is $43.54. The company has a market cap of $1.746 billion and a price-to-earnings ratio of 102.13.
Mobile Mini, Inc (NASDAQ:MINI) is a provider of portable storage solutions with a total portable storage and office fleet.
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