According to Zacks, “TEXTAINER GROUP is the worlds largest lessor of intermodal containers with a total fleet of more than 1.3 million containers, representing over 2,000,000 TEU. They lease containers to more than 400 shipping lines and other lessees, including each of the world’s top 20 container lines. Yhey are also the primary supplier of leased containers to the U.S. Military. Their goal is to be the most reliable lessor of containers in locations where their customers need them. They have provided an average of more than 100,000 TEU of new containers per year for the past 10 years, and have been one of the largest purchasers of new containers among container lessors over the same period. They are also one of the largest sellers of used containers , having sold an average of more than 53,000 containers per year for the last five years. “
Separately, Cowen and Company decreased their target price on shares of Textainer Group Holdings from $15.00 to $13.00 and set a market perform rating for the company in a research report on Tuesday, August 9th. Six investment analysts have rated the stock with a hold rating, Textainer Group Holdings has a consensus rating of Hold and an average price target of $13.33.
Textainer Group Holdings (NYSE:TGH) traded down 0.68% during trading on Tuesday, hitting $7.25. 30,309 shares of the stock were exchanged. Textainer Group Holdings has a 12-month low of $7.05 and a 12-month high of $21.12. The firm has a market cap of $410.28 million, a PE ratio of 15.73 and a beta of 2.27. The stock’s 50-day moving average price is $7.95 and its 200-day moving average price is $11.20.
Textainer Group Holdings (NYSE:TGH) last announced its earnings results on Tuesday, August 9th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.09. The company earned $127.45 million during the quarter, compared to the consensus estimate of $125.61 million. Textainer Group Holdings had a net margin of 5.08% and a return on equity of 3.16%. The business’s quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 EPS. On average, equities analysts expect that Textainer Group Holdings will post $0.32 EPS for the current year.
Several institutional investors have recently bought and sold shares of TGH. Prudential Financial Inc. acquired a new position in Textainer Group Holdings during the first quarter valued at $771,000. UBS Group AG raised its position in Textainer Group Holdings by 37.8% in the first quarter. UBS Group AG now owns 110,544 shares of the company’s stock valued at $1,641,000 after buying an additional 30,303 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in Textainer Group Holdings during the first quarter valued at $1,246,000. A.R.T. Advisors LLC acquired a new position in Textainer Group Holdings during the first quarter valued at $1,163,000. Finally, Bank of New York Mellon Corp raised its position in Textainer Group Holdings by 3.8% in the second quarter. Bank of New York Mellon Corp now owns 92,982 shares of the company’s stock valued at $1,036,000 after buying an additional 3,417 shares during the period. Institutional investors own 13.99% 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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