CAI International Inc (CAI) Expected to Announce Quarterly Sales of $111.85 Million

Equities analysts expect that CAI International Inc (NYSE:CAI) will report $111.85 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for CAI International’s earnings, with the lowest sales estimate coming in at $111.40 million and the highest estimate coming in at $112.30 million. CAI International posted sales of $90.16 million in the same quarter last year, which suggests a positive year-over-year growth rate of 24.1%. The company is expected to announce its next quarterly earnings report after the market closes on Tuesday, October 30th.

On average, analysts expect that CAI International will report full year sales of $428.10 million for the current fiscal year, with estimates ranging from $427.10 million to $429.10 million. For the next financial year, analysts expect that the company will report sales of $494.05 million, with estimates ranging from $479.40 million to $508.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for CAI International.

CAI International (NYSE:CAI) last posted its quarterly earnings data on Tuesday, July 31st. The transportation company reported $0.90 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($0.01). CAI International had a net margin of 23.77% and a return on equity of 13.16%. The business had revenue of $105.71 million for the quarter, compared to analysts’ expectations of $100.70 million. During the same quarter in the previous year, the firm earned $0.65 EPS. CAI International’s revenue was up 27.8% compared to the same quarter last year.

A number of equities analysts recently issued reports on CAI shares. Zacks Investment Research upgraded CAI International from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Monday, July 2nd. ValuEngine cut CAI International from a “sell” rating to a “strong sell” rating in a report on Monday, July 16th. Finally, Keefe, Bruyette & Woods upgraded CAI International from a “market perform” rating to an “outperform” rating in a report on Thursday, September 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $31.25.

Several hedge funds have recently modified their holdings of CAI. Scopus Asset Management L.P. purchased a new stake in shares of CAI International in the 2nd quarter worth $14,447,000. United Services Automobile Association lifted its holdings in shares of CAI International by 101.0% in the 2nd quarter. United Services Automobile Association now owns 335,232 shares of the transportation company’s stock worth $45,290,000 after buying an additional 168,423 shares during the period. Portolan Capital Management LLC purchased a new stake in shares of CAI International in the 2nd quarter worth $3,104,000. BlackRock Inc. lifted its holdings in shares of CAI International by 11.0% in the 2nd quarter. BlackRock Inc. now owns 1,177,477 shares of the transportation company’s stock worth $27,365,000 after buying an additional 116,607 shares during the period. Finally, Putnam Investments LLC purchased a new stake in shares of CAI International in the 2nd quarter worth $2,552,000. Institutional investors and hedge funds own 87.80% of the company’s stock.

CAI traded up $0.04 during trading hours on Friday, reaching $20.17. 93,400 shares of the company’s stock traded hands, compared to its average volume of 234,752. CAI International has a 52-week low of $19.35 and a 52-week high of $38.60. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 2.93. The stock has a market cap of $393.46 million, a P/E ratio of 7.00, a PEG ratio of 0.68 and a beta of 2.56.

CAI International announced that its Board of Directors has authorized a stock buyback program on Monday, October 8th that permits the company to repurchase 3,000,000 shares. This repurchase authorization permits the transportation company to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

About CAI International

CAI International, Inc operates as transportation finance and logistics company in the United States and internationally. The company operates through three segments: Container Leasing, Rail Leasing, and Logistics. It leases, re-leases, and disposes equipment; and contracts for the repair, repositioning, and storage of equipment.

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