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Last $0.57 USD
Change Today +0.02 / 3.64%
Volume 87.3K
As of 8:10 PM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).

essex rental corp (ESSX) Snapshot

Open
$0.55
Previous Close
$0.55
Day High
$0.65
Day Low
$0.52
52 Week High
08/27/14 - $2.85
52 Week Low
07/29/15 - $0.47
Market Cap
14.2M
Average Volume 10 Days
61.6K
EPS TTM
$-0.44
Shares Outstanding
24.9M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for ESSEX RENTAL CORP (ESSX)

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essex rental corp (ESSX) Details

Essex Rental Corp., through its subsidiaries, rents and distributes lifting equipment to the construction industry in North America. The company operates in four segments: Essex Crane Equipment Rentals; Coast Crane Equipment Rentals; Equipment Distribution; and Parts and Service. It rents lattice-boom crawler cranes and attachments, and other related heavy lifting machinery and equipment. The company also rents, sells, and distributes used and new tower cranes, boom trucks, rough terrain cranes, terrain cranes, and other lifting equipment to customers in the infrastructure, energy, crane rigger/operator, municipal, and industrial construction sectors. In addition, it retails construction equipment products; and offers installation, maintenance, repair, and parts and services for equipment provided to customers and customer owned equipment. Further, the company supplies lifting solutions for construction projects related to power generation, petro-chemical, refineries, water treatment and purification, bridges, highways, hospitals, shipbuilding, offshore oil fabrication and industrial plants, and commercial and residential construction. It serves construction companies, industrial companies, municipalities, and contractors performing repair and maintenance to renovation projects for owners of commercial and industrial facilities. Essex Rental Corp. was founded in 1960 and is headquartered in Buffalo Grove, Illinois.

260 Employees
Last Reported Date: 05/7/15
Founded in 1960

essex rental corp (ESSX) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $426.7K
Chief Financial Officer
Total Annual Compensation: $258.9K
Compensation as of Fiscal Year 2014.

essex rental corp (ESSX) Key Developments

Essex Rental Corp. Elects Bill Fox to Chair Both the Nominating and Governance Committee and the Compensation Committee

Essex Rental Corp. has elected Bill Fox to chair both the Nominating and Governance Committee and the Compensation Committee. The Company also announced that it has determined to not continue to pursue a sale or other strategic alternative for its operating subsidiary, Essex Crane Rental Corp., at the present time.

Essex Rental Not To Purse Sale Of Essex Crane

Essex Rental Corp. (NasdaqCM:ESSX) announced that it has determined to not continue to pursue a sale or other strategic alternative for Essex Crane Rental Corp. at the present time. Nick Matthews, Essex's Chief Executive Officer, stated: "We continue to execute on our operating initiatives and the Board remains dedicated to evaluating every available option to maximize stockholder value. However, after reviewing market feedback assembled by our financial advisor, RBC Capital Markets ("RBC"), the Board has elected not to continue the strategic evaluation process with RBC with respect to Essex Crane or the Company as a whole. The information we received during this process has been valuable and the Board intends to maintain an ongoing dialogue with RBC."

Essex Rental Receives Letter of Default from Wells Fargo Bank

Essex Rental announced that it received a notice of default on June 18, 2015 from Wells Fargo Bank. Wells Fargo is the lead lender and agent under the Essex Crane Revolving Credit Facility. The default was a result of a decline in the appraised liquidation value of the company's rental equipment fleet. This has forced a decline in the borrowing base, putting the excess credit availability at less than 10% of the total loan commitment. The event of default may also trigger a default under the cross-default provisions contained within Essex's unsecured promissory notes, unless waived by the holders of those notes. While Essex continues negotiations to obtain a waiver, it expects that it will be able to continue to use the Essex Crane Revolving Credit Facility to fund operations.

 

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ESSX Competitors

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Company Last Change
H&E Equipment Services Inc $17.94 USD +0.38
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Industry Analysis

ESSX

Industry Average

Valuation ESSX Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 0.1x
Price/Book 0.3x
Price/Cash Flow 1.9x
TEV/Sales NM Not Meaningful
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