Textainer Group (NYSE:TGH) announced its quarterly earnings data on Friday. The transportation company reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.05, Briefing.com reports. The firm had revenue of $149.40 million during the quarter, compared to analysts’ expectations of $145.54 million. Textainer Group had a return on equity of 5.58% and a net margin of 13.60%. The company’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.33 EPS.
Shares of TGH stock opened at $11.65 on Friday. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.57 and a quick ratio of 0.57. The stock has a market capitalization of $665.18 million, a PE ratio of 9.25 and a beta of 2.57. Textainer Group has a one year low of $10.58 and a one year high of $26.50.
Hedge funds have recently made changes to their positions in the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of Textainer Group in the 2nd quarter valued at about $122,000. Waratah Capital Advisors Ltd. bought a new stake in shares of Textainer Group in the 3rd quarter valued at about $178,000. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Textainer Group by 131.9% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,009 shares of the transportation company’s stock valued at $220,000 after acquiring an additional 7,400 shares during the last quarter. Atria Investments LLC acquired a new position in shares of Textainer Group in the 2nd quarter valued at approximately $226,000. Finally, Putnam Investments LLC acquired a new position in shares of Textainer Group in the 2nd quarter valued at approximately $431,000. 24.93% of the stock is owned by institutional investors.
TGH has been the subject of a number of recent analyst reports. Wells Fargo & Co cut Textainer Group from a “market perform” rating to an “underperform” rating and set a $11.00 price target for the company. in a research note on Friday, September 28th. ValuEngine cut Textainer Group from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 8th. Zacks Investment Research cut Textainer Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 14th. Cowen lowered their price target on Textainer Group from $26.00 to $22.00 and set an “outperform” rating for the company in a research note on Wednesday, August 8th. Finally, TheStreet raised Textainer Group from a “d+” rating to a “c” rating in a research note on Wednesday, August 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $18.67.
About Textainer Group
Textainer Group Holdings Limited, through its subsidiaries, engages in the purchase, ownership, management, leasing, and disposal of a fleet of intermodal containers worldwide. It operates through three segments: Container Ownership, Container Management, and Container Resale. The company owns and leases standard dry freight containers, refrigerated, and other special-purpose containers.
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