General Finance (GFN) Reaches New 1-Year High After Earnings Beat

Shares of General Finance Co. (NASDAQ:GFN) reached a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $7.40 and last traded at $7.40, with a volume of 147693 shares. The stock had previously closed at $7.15.

The business services provider reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.12. The company had revenue of $92.13 million during the quarter, compared to the consensus estimate of $78.80 million. General Finance had a return on equity of 0.39% and a net margin of 0.18%.

Several research firms recently commented on GFN. Zacks Investment Research raised General Finance from a “sell” rating to a “hold” rating in a research note on Friday, November 17th. DA Davidson reissued a “buy” rating on shares of General Finance in a research note on Wednesday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $9.20.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Litman Gregory Asset Management LLC purchased a new stake in General Finance in the 3rd quarter valued at $120,000. Citadel Advisors LLC purchased a new stake in General Finance in the 2nd quarter valued at $134,000. Raymond James Financial Services Advisors Inc. grew its holdings in General Finance by 6.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 31,300 shares of the business services provider’s stock valued at $161,000 after buying an additional 1,900 shares in the last quarter. Finally, Valeo Financial Advisors LLC purchased a new stake in General Finance in the 3rd quarter valued at $754,000. 27.25% of the stock is owned by hedge funds and other institutional investors.

The company has a current ratio of 1.59, a quick ratio of 1.05 and a debt-to-equity ratio of 3.88. The company has a market cap of $192.40, a price-to-earnings ratio of -65.45 and a beta of 1.19.

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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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