GATX (NYSE:GATX) Issues FY24 Earnings Guidance

GATX (NYSE:GATX) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $7.30-7.70 for the period, compared to the consensus EPS estimate of $7.46.

Wall Street Analyst Weigh In

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

GATX Stock Performance

GATX opened at $129.97 on Tuesday. The stock’s 50 day simple moving average is $129.77 and its 200-day simple moving average is $119.83. GATX has a 1 year low of $97.21 and a 1 year high of $135.65. The stock has a market cap of $4.62 billion, a PE ratio of 18.18 and a beta of 0.98. The company has a current ratio of 2.79, a quick ratio of 2.79 and a debt-to-equity ratio of 3.26.

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

GATX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, March 31st. Shareholders of record on Friday, March 1st were given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 1.79%. This is a boost from GATX’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Thursday, February 29th. GATX’s dividend payout ratio is 32.45%.

Insider Buying and Selling at GATX

In other GATX news, SVP Kevin Hillesland sold 2,200 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $133.83, for a total value of $294,426.00. Following the sale, the senior vice president now directly owns 7,711 shares in the company, valued at $1,031,963.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Thomas A. Ellman sold 18,000 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $127.54, for a total transaction of $2,295,720.00. Following the sale, the chief financial officer now 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 available through the SEC website. Also, SVP Kevin Hillesland sold 2,200 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $133.83, for a total value of $294,426.00. Following the sale, the senior vice president now owns 7,711 shares in the company, valued at approximately $1,031,963.13. The disclosure for this sale can be found here. Insiders have sold 39,694 shares of company stock worth $5,040,656 over the last three months. Company insiders own 1.99% of the company’s stock.

GATX Company Profile

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.