FY2016 EPS Estimates for Textainer Group Holdings Ltd. (TGH) Reduced by Analyst
Textainer Group Holdings Ltd. (NYSE:TGH) – SunTrust Banks lowered their FY2016 earnings estimates for shares of Textainer Group Holdings in a note issued to investors on Wednesday. SunTrust Banks analyst D. Mewhirter now anticipates that the firm will post earnings per share of ($1.17) for the year, down from their previous estimate of ($0.02). SunTrust Banks also issued estimates for Textainer Group Holdings’ Q4 2016 earnings at ($0.41) EPS, Q1 2017 earnings at ($0.45) EPS, Q2 2017 earnings at $0.14 EPS, Q3 2017 earnings at $0.17 EPS, Q4 2017 earnings at $0.78 EPS and FY2017 earnings at $0.64 EPS.
Several other brokerages have also recently issued reports on TGH. Zacks Investment Research cut Textainer Group Holdings from a “hold” rating to a “sell” rating in a research report on Thursday, November 3rd. Cowen and Company dropped their target price on Textainer Group Holdings from $15.00 to $13.00 and set a “market perform” rating on the stock in a research report on Tuesday, August 9th. Finally, TheStreet lowered Textainer Group Holdings from a “hold” rating to a “sell” rating in a report on Tuesday, November 8th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Textainer Group Holdings presently has an average rating of “Hold” and a consensus target price of $10.00.
Shares of Textainer Group Holdings (NYSE:TGH) opened at 9.65 on Monday. Textainer Group Holdings has a 12-month low of $6.90 and a 12-month high of $15.98. The firm’s 50-day moving average price is $7.67 and its 200 day moving average price is $10.26. The company’s market cap is $546.09 million.
Textainer Group Holdings (NYSE:TGH) last released its quarterly earnings results on Tuesday, November 8th. The company reported ($0.92) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by $0.80. Textainer Group Holdings had a negative net margin of 5.79% and a negative return on equity of 2.45%. The company had revenue of $121.21 million for the quarter, compared to the consensus estimate of $124.98 million. During the same period in the prior year, the firm posted $0.31 EPS. The business’s revenue for the quarter was down 11.2% on a year-over-year basis.
Hedge funds have recently modified their holdings of the stock. Highbridge Capital Management LLC purchased a new position in shares of Textainer Group Holdings during the third quarter worth about $494,000. D. E. Shaw & Co. Inc. purchased a new position in shares of Textainer Group Holdings during the third quarter worth about $100,000. The Manufacturers Life Insurance Company purchased a new position in shares of Textainer Group Holdings during the third quarter worth about $127,000. Analytic Investors LLC purchased a new position in shares of Textainer Group Holdings during the third quarter worth about $603,000. Finally, KCG Holdings Inc. purchased a new position in shares of Textainer Group Holdings during the third quarter worth about $202,000. Hedge funds and other institutional investors own 14.07% of the company’s stock.
About Textainer Group Holdings
Textainer Group Holdings Limited (TGH) is a holding company. The Company is involved in the purchase, ownership, management, leasing and disposal of a fleet of intermodal containers. The Company operates in three segments: Container Ownership, which owned containers accounting for approximately 80% of the Company’s fleet; Container Management, which managed containers on behalf of approximately 10 affiliated and unaffiliated container investors, providing acquisition, management and disposal services, and total managed containers accounted for approximately 20% of its fleet, and Container Resale, which sells containers from its fleet when they reach the end of their useful lives in marine service, and also purchases and leases or resells containers from shipping line customers, container traders and other sellers of containers.
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