GATX (NYSE:GATX) Issues FY 2024 Earnings Guidance

GATX (NYSE:GATX) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 7.300-7.700 for the period, compared to the consensus EPS estimate of 7.560. The company issued revenue guidance of -. GATX also updated its FY24 guidance to $7.30-7.70 EPS.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. TD Cowen increased their price objective on GATX from $122.00 to $136.00 and gave the company a market perform rating in a research note on Wednesday, January 24th. Wells Fargo & Company upped their target price on GATX from $130.00 to $140.00 and gave the company an overweight rating in a report on Wednesday, January 24th. Finally, Susquehanna upped their target price on GATX from $115.00 to $120.00 and gave the company a neutral rating in a report on Wednesday, January 24th.

GATX Stock Down 0.9 %

GATX traded down $1.11 during trading on Tuesday, reaching $128.85. The stock had a trading volume of 51,762 shares, compared to its average volume of 138,291. The stock’s 50 day moving average is $129.77 and its two-hundred day moving average is $119.83. The company has a current ratio of 2.79, a quick ratio of 2.79 and a debt-to-equity ratio of 3.26. The company has a market capitalization of $4.58 billion, a price-to-earnings ratio of 18.18 and a beta of 0.98. GATX has a one year low of $97.21 and a one year high of $135.65.

GATX (NYSE:GATX) last posted its quarterly earnings data on Tuesday, January 23rd. The transportation company reported $1.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.16. The business had revenue of $368.70 million during the quarter, compared to the consensus estimate of $365.32 million. GATX had a return on equity of 11.81% and a net margin of 18.37%. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.54 earnings per share. As a group, analysts expect that GATX will post 7.53 earnings per share for the current year.

GATX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, March 31st. Investors of record on Friday, March 1st were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Thursday, February 29th. This is a boost from GATX’s previous quarterly dividend of $0.55. This represents a $2.32 annualized dividend and a dividend yield of 1.80%. GATX’s dividend payout ratio (DPR) is 32.45%.

Insider Activity at GATX

In related news, CEO Robert C. Lyons sold 19,300 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $125.70, for a total transaction of $2,426,010.00. Following the sale, the chief executive officer now directly owns 44,710 shares of the company’s stock, valued at $5,620,047. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Thomas A. Ellman sold 18,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $127.54, for a total transaction of $2,295,720.00. Following the completion of the sale, the chief financial officer now directly owns 35,429 shares in the company, valued at $4,518,614.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert C. Lyons sold 19,300 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $125.70, for a total transaction of $2,426,010.00. Following the completion of the transaction, the chief executive officer now owns 44,710 shares in the company, valued at $5,620,047. The disclosure for this sale can be found here. Insiders have sold 39,694 shares of company stock valued at $5,040,656 over the last ninety days. Insiders own 1.99% of the company’s stock.

About GATX

GATX Corporation, together its subsidiaries, operates as railcar leasing company in the United States, Canada, Mexico, Europe, and India. It operates through three segments: Rail North America, Rail International, and Portfolio Management. The company leases tank and freight railcars, and locomotives for petroleum, chemical, food/agriculture, and transportation industries.