Zacks: Analysts Anticipate General Finance Co. (GFN) Will Post Quarterly Sales of $78.80 Million
Analysts expect that General Finance Co. (NASDAQ:GFN) will post $78.80 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for General Finance’s earnings, with the lowest sales estimate coming in at $74.50 million and the highest estimate coming in at $83.10 million. General Finance reported sales of $72.33 million in the same quarter last year, which would suggest a positive year over year growth rate of 8.9%. The company is scheduled to issue its next quarterly earnings results on Monday, February 5th.
According to Zacks, analysts expect that General Finance will report full-year sales of $78.80 million for the current year, with estimates ranging from $300.42 million to $315.00 million. For the next year, analysts anticipate that the firm will report 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 sell-side research firms that cover General Finance.
Several brokerages have recently commented on GFN. Zacks Investment Research raised shares of General Finance from a “sell” rating to a “hold” rating in a report on Friday, November 17th. TheStreet raised shares of General Finance from a “d” rating to a “c-” rating in a report on Wednesday, September 6th. ValuEngine raised shares of General Finance from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Finally, Oppenheimer reaffirmed 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 given a buy rating to the company. General Finance has an average rating of “Hold” and a consensus price target of $9.20.
In related news, CEO Ronald Valenta bought 12,000 shares of the business’s stock in a transaction on Friday, September 22nd. The shares were purchased at an average price of $5.04 per share, for a total transaction of $60,480.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Larry D. Tashjian bought 5,200 shares of the business’s stock in a transaction on Tuesday, September 26th. The stock was bought at an average price of $4.95 per share, for a total transaction of $25,740.00. The disclosure for this purchase can be found here. Insiders purchased 33,602 shares of company stock worth $167,501 over the last three months. 25.90% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of GFN. Valeo Financial Advisors LLC acquired a new position in shares of General Finance during the third quarter worth $754,000. Citadel Advisors LLC acquired a new position in shares of General Finance during the second quarter worth $134,000. Litman Gregory Asset Management LLC acquired a new position in shares of General Finance during the third quarter worth $120,000. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of General Finance by 47.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 46,075 shares of the business services provider’s stock worth $233,000 after purchasing an additional 14,775 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of General Finance by 25.4% during 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 during the period. Hedge funds and other institutional investors own 27.57% of the company’s stock.
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About General Finance
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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