Rush Enterprises (RUSHA) Expected to Announce Quarterly Earnings on Tuesday

Rush Enterprises (NASDAQ:RUSHA) is anticipated to issue its results after the market closes on Tuesday, July 28th. Analysts expect Rush Enterprises to announce earnings of $0.8750 per share and revenue of $1.8914 billion for the quarter.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.05. Rush Enterprises had a return on equity of 11.87% and a net margin of 3.65%.The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.73 billion. On average, analysts expect Rush Enterprises to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Rush Enterprises Price Performance

RUSHA opened at $76.57 on Friday. The company has a market capitalization of $5.95 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 1.69 and a beta of 0.89. The company has a current ratio of 1.46, a quick ratio of 0.37 and a debt-to-equity ratio of 0.16. Rush Enterprises has a 12-month low of $45.67 and a 12-month high of $80.17. The business’s fifty day simple moving average is $71.54 and its 200-day simple moving average is $69.11.

Rush Enterprises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 12th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Tuesday, May 12th. Rush Enterprises’s dividend payout ratio (DPR) is presently 22.96%.

Insiders Place Their Bets

In other news, Director Michael Mcroberts sold 8,000 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $72.23, for a total transaction of $577,840.00. Following the transaction, the director directly owned 16,229 shares of the company’s stock, valued at approximately $1,172,220.67. This represents a 33.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 12.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rush Enterprises

Several institutional investors have recently added to or reduced their stakes in RUSHA. Goldman Sachs Group Inc. raised its stake in shares of Rush Enterprises by 174.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 955,989 shares of the company’s stock worth $51,566,000 after purchasing an additional 607,047 shares during the last quarter. Millennium Management LLC boosted its position in Rush Enterprises by 280.4% in the third quarter. Millennium Management LLC now owns 540,942 shares of the company’s stock valued at $28,924,000 after buying an additional 398,721 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Rush Enterprises by 91.9% in the second quarter. Ameriprise Financial Inc. now owns 628,855 shares of the company’s stock valued at $32,392,000 after buying an additional 301,119 shares during the last quarter. Woodline Partners LP acquired a new position in Rush Enterprises in the 3rd quarter worth approximately $10,906,000. Finally, Loomis Sayles & Co. L P acquired a new position in Rush Enterprises in the 4th quarter worth approximately $7,539,000. Institutional investors and hedge funds own 84.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Zacks Research upgraded Rush Enterprises from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Wolfe Research initiated coverage on Rush Enterprises in a report on Monday, April 27th. They issued an “outperform” rating and a $88.00 price target on the stock. Wall Street Zen lowered Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Sunday, June 14th. UBS Group upped their price objective on Rush Enterprises from $73.00 to $78.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Finally, Weiss Ratings raised Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Rush Enterprises has a consensus rating of “Moderate Buy” and an average target price of $83.67.

About Rush Enterprises

Rush Enterprises, Inc, headquartered in New Braunfels, Texas, is a leading distributor of commercial vehicles and related products in the United States. Through its Rush Truck Centers subsidiary, the company sells new and used medium- and heavy-duty trucks, buses and specialty vehicles, while also offering factory-authorized parts, collision repair, maintenance and warranty support across its network of dealerships.

Founded in 1965, Rush Enterprises has grown to encompass more than 150 locations in over 20 states, partnering with major manufacturers including Kenworth, Peterbilt, Freightliner, Volvo and Mack.