The Greenbrier Companies, Inc. (NYSE:GBX) – Equities research analysts at KeyCorp decreased their Q3 2022 earnings estimates for shares of The Greenbrier Companies in a research note issued on Tuesday, April 6th. KeyCorp analyst S. Barger now forecasts that the transportation company will post earnings of $0.60 per share for the quarter, down from their previous estimate of $0.65. KeyCorp also issued estimates for The Greenbrier Companies’ Q4 2022 earnings at $0.70 EPS, Q1 2023 earnings at $0.50 EPS, Q2 2023 earnings at $0.58 EPS and FY2023 earnings at $2.85 EPS.
Several other brokerages also recently weighed in on GBX. Cowen raised their target price on shares of The Greenbrier Companies from $41.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, February 17th. Zacks Investment Research upgraded shares of The Greenbrier Companies from a “sell” rating to a “hold” rating in a research note on Tuesday, March 2nd. Finally, Wells Fargo & Company upgraded shares of The Greenbrier Companies from an “underweight” rating to an “overweight” rating and set a $40.00 target price for the company in a research note on Monday, December 14th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The Greenbrier Companies currently has an average rating of “Buy” and an average target price of $33.50.
The Greenbrier Companies (NYSE:GBX) last announced its quarterly earnings results on Monday, April 5th. The transportation company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.09. The Greenbrier Companies had a net margin of 1.29% and a return on equity of 3.12%. The firm had revenue of $295.60 million during the quarter, compared to analysts’ expectations of $375.64 million. During the same quarter in the prior year, the company earned $0.46 EPS. The company’s revenue was down 52.6% compared to the same quarter last year.
Several institutional investors have recently modified their holdings of the stock. Great West Life Assurance Co. Can raised its holdings in shares of The Greenbrier Companies by 1,849.1% during the third quarter. Great West Life Assurance Co. Can now owns 816,373 shares of the transportation company’s stock worth $2,394,000 after purchasing an additional 774,488 shares during the last quarter. SummerHaven Investment Management LLC purchased a new position in The Greenbrier Companies in the fourth quarter valued at $668,000. Charles Schwab Investment Management Inc. increased its holdings in The Greenbrier Companies by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 564,763 shares of the transportation company’s stock valued at $20,547,000 after buying an additional 1,591 shares in the last quarter. Norges Bank purchased a new position in The Greenbrier Companies in the fourth quarter valued at $13,663,000. Finally, Community Bank of Raymore increased its holdings in The Greenbrier Companies by 14.1% in the fourth quarter. Community Bank of Raymore now owns 264,007 shares of the transportation company’s stock valued at $10,439,000 after buying an additional 32,542 shares in the last quarter. 91.05% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Brian J. Comstock sold 8,500 shares of The Greenbrier Companies stock in a transaction on Monday, February 8th. The shares were sold at an average price of $42.30, for a total transaction of $359,550.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William A. Furman bought 20,000 shares of The Greenbrier Companies stock in a transaction that occurred on Tuesday, February 9th. The shares were acquired at an average cost of $43.34 per share, with a total value of $866,800.00. Following the acquisition, the chief executive officer now owns 482,518 shares of the company’s stock, valued at $20,912,330.12. The disclosure for this purchase can be found here. Insiders have sold 27,864 shares of company stock valued at $1,178,549 over the last quarter. Insiders own 2.74% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 12th. Stockholders of record on Wednesday, April 21st will be paid a dividend of $0.27 per share. The ex-dividend date is Tuesday, April 20th. This represents a $1.08 annualized dividend and a dividend yield of 2.38%. The Greenbrier Companies’s payout ratio is currently 51.43%.
About The Greenbrier Companies
The Greenbrier Companies, Inc designs, manufactures, and markets railroad freight car equipment in North America, Europe, and South America. It operates through three segments: Manufacturing; Wheels, Repair & Parts; and Leasing & Services. The Manufacturing segment offers conventional railcars, such as covered hopper cars, boxcars, center partition cars, and bulkhead flat cars; tank cars; double-stack intermodal railcars; auto-max and multi-max products for the transportation of light vehicles; pressurized tank cars, non-pressurized tank cars, flat cars, coil cars, gondolas, sliding wall cars, and automobile transporter cars; and marine vessels.
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