Amerco (UHAL) Announces Earnings Results
Amerco (NASDAQ:UHAL) issued its earnings results on Wednesday. The transportation company reported $6.44 EPS for the quarter, missing the Zacks’ consensus estimate of $6.46 by $0.02, Briefing.com reports. Amerco had a net margin of 11.64% and a return on equity of 14.02%. The company had revenue of $957.93 million during the quarter, compared to analyst estimates of $943.57 million. During the same quarter in the previous year, the firm earned $7.51 earnings per share. The business’s revenue was up 3.8% on a year-over-year basis.
Shares of Amerco (UHAL) traded down 7.93% during trading on Thursday, reaching $360.39. The company’s stock had a trading volume of 205,350 shares. The company’s 50-day moving average price is $368.78 and its 200 day moving average price is $370.23. Amerco has a 1-year low of $307.80 and a 1-year high of $398.94. The stock has a market capitalization of $7.07 billion, a price-to-earnings ratio of 17.72 and a beta of 1.10.
The business also recently announced a special dividend, which was paid on Thursday, August 3rd. Shareholders of record on Thursday, July 20th were paid a $1.00 dividend. The ex-dividend date of this dividend was Tuesday, July 18th.
Separately, BidaskClub upgraded Amerco from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 31st.
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In other Amerco news, major shareholder Grove Holdings Lp Willow bought 2,000 shares of the stock in a transaction that occurred on Tuesday, May 30th. The shares were acquired at an average price of $352.87 per share, with a total value of $705,740.00. Following the completion of the purchase, the insider now directly owns 7,562,884 shares in the company, valued at approximately $2,668,714,877.08. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 42.60% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Riverhead Capital Management LLC boosted its stake in shares of Amerco by 63.2% in the second quarter. Riverhead Capital Management LLC now owns 310 shares of the transportation company’s stock valued at $114,000 after buying an additional 120 shares in the last quarter. Watermark Asset Management Inc. purchased a new stake in shares of Amerco during the first quarter valued at $124,000. Macquarie Group Ltd. purchased a new stake in shares of Amerco during the fourth quarter valued at $148,000. UBS Group AG boosted its stake in shares of Amerco by 98.4% in the first quarter. UBS Group AG now owns 508 shares of the transportation company’s stock valued at $194,000 after buying an additional 252 shares in the last quarter. Finally, Pennsylvania Trust Co purchased a new stake in shares of Amerco during the first quarter valued at $200,000. 29.83% of the stock is currently owned by hedge funds and other institutional investors.
AMERCO is a do-it-yourself moving and storage operator through its subsidiary, U-Haul International, Inc (U-Haul). The Company supplies its products and services to help people move and store their household and commercial goods through U-Haul. It sells U-Haul brand boxes, tape, and other moving and self-storage products and services to do-it-yourself moving and storage customers at its distribution outlets and through uhaul.com and eMove Websites.
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