Don't let it get away!
Keep track of the stocks that matter to you.
Help yourself with the Fool's FREE and easy new watchlist service today.
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of CAI International (NYSE: CAP ) fell as much as 14% today after the company released earnings.
So what: Revenue jumped 29% in the quarter, to $51.0 million, coming just short of the $51.4 million estimate. Net income was up 12%, to $16.1 million, or $0.71 per share, falling short of the $0.76 estimate from Wall Street.
Now what: Rental revenue drove the large revenue increase as management continues to buy assets. One of the big downsides was that utilization fell in the quarter, something management expects to remedy as the year goes on. I don't think the quarter was as bad as the market does today, and think a 6.3 forward P/E ratio is low enough to buy on today's discount.
Interested in more info on CAI International? Add it to your watchlist by clicking here.