Brokerages Expect General Finance Co. (GFN) Will Announce Quarterly Sales of $96.15 Million
Analysts expect that General Finance Co. (NASDAQ:GFN) will announce sales of $96.15 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for General Finance’s earnings. The lowest sales estimate is $94.20 million and the highest is $98.10 million. General Finance reported sales of $93.83 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.5%. The firm is expected to report its next quarterly earnings results on Wednesday, September 4th.
According to Zacks, analysts expect that General Finance will report full year sales of $378.10 million for the current year, with estimates ranging from $376.19 million to $380.00 million. For the next fiscal year, analysts forecast that the firm will report sales of $392.00 million, with estimates ranging from $391.00 million to $393.00 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow General Finance.
GFN has been the topic of several research analyst reports. Zacks Investment Research upgraded General Finance from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Tuesday, March 5th. DA Davidson reiterated a “buy” rating on shares of General Finance in a research note on Monday, February 11th. Finally, ValuEngine downgraded General Finance from a “buy” rating to a “hold” rating in a research note on Friday, January 25th.
Institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its holdings in shares of General Finance by 32.2% in the 3rd quarter. BlackRock Inc. now owns 646,921 shares of the business services provider’s stock valued at $10,318,000 after buying an additional 157,700 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of General Finance in the 4th quarter valued at about $1,343,000. Cornercap Investment Counsel Inc. acquired a new position in shares of General Finance in the 1st quarter valued at about $954,000. Monarch Partners Asset Management LLC acquired a new position in shares of General Finance in the 1st quarter valued at about $654,000. Finally, Deutsche Bank AG lifted its holdings in shares of General Finance by 206.1% in the 4th quarter. Deutsche Bank AG now owns 93,173 shares of the business services provider’s stock valued at $940,000 after buying an additional 62,735 shares during the period. Institutional investors and hedge funds own 24.13% of the company’s stock.
About General Finance
General Finance Corporation, a specialty rental services company, provides portable storage, modular space, and liquid containment solutions in North America and the Asia-Pacific regions. Its portable storage products include storage containers used in classroom equipment storage, construction equipment and tool storage, disaster shelters, landscaping sheds, recreational equipment storage, and retail inventory storage applications; and freight containers used in freight transportation by road and rail.
Further Reading: How to interpret a stock’s beta number
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for General Finance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Finance and related companies with MarketBeat.com's FREE daily email newsletter.