Jefferies Trims Numbers On CAI International (CAP) After Q4 Miss

Jefferies trimmed estimates and its price target on CAI International (NYSE: CAP) from $24 to $22 after Q4 EPS of $0.66 missed the Street's estimate of $0.68 and the firm's estimate of $0.70.

The firm comments, "Despite better-than-expected core rental revenue, overall results suffered from higher-than-expected expenses, including an 87% increase in storage & handling costs which was due to the Q/Q decline in utilization from 98% to 96.5%."

Q1 EPS go from $0.68 to $0.56 and FY12 goes from $2.83 to $2.63.

For an analyst ratings summary and ratings history on CAI International click here. For more ratings news on CAI International click here.

Shares of CAI International closed at $19.61 yesterday.

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