Custom Truck One Source (NYSE:CTOS) Posts Quarterly Earnings Results, Misses Expectations By $0.04 EPS

by · The Cerbat Gem

Custom Truck One Source (NYSE:CTOS – Get Free Report) announced its quarterly earnings results on Wednesday. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.04), Briefing.com reports. The company had revenue of $447.22 million for the quarter, compared to the consensus estimate of $448.46 million. Custom Truck One Source had a negative net margin of 0.75% and a negative return on equity of 1.51%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the firm posted $0.04 earnings per share. Custom Truck One Source updated its FY 2024 guidance to EPS.

Custom Truck One Source Trading Up 9.8 %

Shares of NYSE CTOS traded up $0.36 during midday trading on Wednesday, reaching $3.99. The stock had a trading volume of 1,304,009 shares, compared to its average volume of 598,497. The firm has a market cap of $941.30 million, a price-to-earnings ratio of -79.70 and a beta of 0.62. Custom Truck One Source has a twelve month low of $3.03 and a twelve month high of $7.00. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.20 and a current ratio of 1.30. The company’s 50 day moving average price is $3.62 and its 200 day moving average price is $4.26.

Insider Transactions at Custom Truck One Source

In other news, insider Thomas R. Rich purchased 26,200 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average price of $3.84 per share, for a total transaction of $100,608.00. Following the transaction, the insider now owns 224,778 shares of the company’s stock, valued at approximately $863,147.52. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Thomas R. Rich purchased 26,200 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average price of $3.84 per share, for a total transaction of $100,608.00. Following the transaction, the insider now owns 224,778 shares of the company’s stock, valued at approximately $863,147.52. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Energy Capital Partners Manage sold 18,640 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $4.17, for a total transaction of $77,728.80. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Oppenheimer decreased their price target on shares of Custom Truck One Source from $7.00 to $6.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. JPMorgan Chase & Co. cut their target price on shares of Custom Truck One Source from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $5.88.

View Our Latest Stock Analysis on Custom Truck One Source

About Custom Truck One Source

(Get Free Report)

Custom Truck One Source, Inc provides specialty equipment rental and sale services to the electric utility transmission and distribution, telecommunications, rail, forestry, waste management, and other infrastructure-related industries in the United States and Canada. The company operates through three segments: Equipment Rental Solutions (ERS), Truck and Equipment Sales (TES), and Aftermarket Parts and Services (APS).

Featured Stories