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TGH

Textainer

$16.70

0.15 (0.91%)

09:09
08/08/17
08/08
09:09
08/08/17
09:09

Textainer sees FY17 revenue increasing 'significantly' on current conditions

The company said, "New container prices have not only remained stable but seem likely to increase in the coming months due to production constraints resulting from the challenges of using waterborne paint during the winter months and increases in component costs. For these reasons, we are optimistic. Used container prices have increased 85% since the low point in August 2016 and are now at levels significantly above the residual values we use for depreciation purposes. We are excited about our outlook; the lease-out market is strong and a number of sustainable trends appear to be in place for this strength to persist. Production capacity is limited, new container and depot inventories are very low, utilization is high for all container lessors, and lessors are purchasing more than half of all new production. The financial performance of shipping lines is improving but they remain somewhat capital constrained and are viewing leasing favorably. Our high utilization and attractive used container prices should ensure gains on sale continue in the coming quarters and we expect direct costs to further reduce as storage and handling expenses continue to benefit from high utilization. Should current market conditions continue going forward, we project our revenue to increase significantly due to the repricing of maturing leases which are at rates well below the current market. We believe that these positive changes and trends, especially the future impact of lease repricing, may not be recognized by the market."

  • 08

    Aug

TGH Textainer
$16.70

0.15 (0.91%)

01/23/17
COWN
01/23/17
UPGRADE
Target $15
COWN
Outperform
Textainer upgraded on improving fundamentals at Cowen
Cowen analyst Helane Becker upgraded Textainer to Outperform saying leasing industry fundamentals are improving and will likely lead to improving 2017 financial results. Becker expects air freight companies to continue to benefit from e-commerce growth and utilization, reducing impairments and lowering storage costs at lessors. Further, container prices are being driven by increasing prices of Chinese steel, which should also reduce impairments and decrease repricing risk of expiring container leases. Becker raised Textainer's price target to $15 from $8.
01/25/17
RHCO
01/25/17
NO CHANGE
RHCO
Container leasing price targets raised at SunTrust
SunTrust analyst Douglas Mewhirter raised his price targets on several container leasing companies ahead of their Q4 results. Given recent increases in new box prices and what he sees as more favorable supply/demand trends, the analyst decided to switch to a less conservative GAAP method of calculating book value from his previous runoff value method. Mewhirter increased his price target on Triton International (TTRTN) to $26 from $22, on Textainer (TGH) to $16 from $9.50, and on CAI International (CAI) to $18 from $10, The analyst expects the companies' Q4 results to be "volatile," but adds that their commentary should be "positive."

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$14.95

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