In a report published Wednesday, Deutsche Bank reiterated its Buy rating on SeaCube Container Leasing BOX, and slightly raised its price target from $23.00 to $24.00.
Deutsche Bank noted, “After the close on Thursday, BOX reported Q3 adjusted EPS of $0.63, below our estimate of $0.67 and Consensus of $0.69. The weaker-than-expected results were primarily driven by modestly lower-than-expected revenue ($2.2 million), which was attributed to box on-hire timing in the quarter. BOX declared a Q3 dividend of $0.30/share, up $0.01/share or 3.4% q/q, representing 47% of net income. Annualized, the new dividend results in a current yield of 6.4% (as of November 6) and was inline with DBe. We continue to see upside to shares of BOX on our improved 2013 capex outlook and long-term contract coverage. Maintain Buy.”
SeaCube Container Leasing closed on Tuesday at $18.66.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in