General Finance Co. (GFN) Expected to Post Quarterly Sales of $78.80 Million
Equities research analysts forecast that General Finance Co. (NASDAQ:GFN) will report $78.80 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for General Finance’s earnings, with the highest sales estimate coming in at $83.10 million and the lowest estimate coming in at $74.50 million. General Finance reported sales of $72.33 million during the same quarter last year, which would suggest a positive year over year growth rate of 8.9%. The firm is scheduled to announce its next earnings report on Monday, February 5th.
According to Zacks, analysts expect that General Finance will report full year sales of $78.80 million for the current fiscal year, with estimates ranging from $300.42 million to $315.00 million. For the next financial year, analysts expect that the business will post sales of $326.50 million per share, with estimates ranging from $323.00 million to $330.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow General Finance.
A number of brokerages recently issued reports on GFN. Zacks Investment Research cut shares of General Finance from a “hold” rating to a “sell” rating in a report on Friday, September 22nd. TheStreet upgraded shares of General Finance from a “d” rating to a “c-” rating in a report on Wednesday, September 6th. ValuEngine upgraded shares of General Finance from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Finally, Oppenheimer reiterated a “hold” rating on shares of General Finance in a report on Wednesday, September 20th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $9.20.
A number of large investors have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. boosted its holdings in General Finance by 6.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 31,300 shares of the business services provider’s stock worth $161,000 after purchasing an additional 1,900 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in General Finance by 25.4% in the first quarter. Renaissance Technologies LLC now owns 35,972 shares of the business services provider’s stock worth $183,000 after purchasing an additional 7,276 shares in the last quarter. Litman Gregory Asset Management LLC acquired a new position in General Finance during the 3rd quarter worth $120,000. Citadel Advisors LLC acquired a new position in General Finance during the 2nd quarter worth $134,000. Finally, Valeo Financial Advisors LLC acquired a new position in General Finance during the 3rd quarter worth $754,000. Hedge funds and other institutional investors own 27.57% of the company’s stock.
General Finance Company Profile
General Finance Corporation is a specialty rental services company. The Company offers a range of portable storage units, including its core 20-feet and 40-feet steel containers, office container, mobile office and modular space products and steel tanks. It has two geographic areas that include its four operating segments: the Asia-Pacific area, consisting of the leasing operations of Royal Wolf Holdings Limited and its Australian and New Zealand subsidiaries (Royal Wolf), and North America, consisting of the combined leasing operations of Pac-Van, Inc and its Canadian subsidiary, PV Acquisition Corp.
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