GATX (NYSE:GATX) Issues FY24 Earnings Guidance

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

GATX Stock Performance

GATX stock traded down $1.96 during midday trading on Tuesday, hitting $128.00. The stock had a trading volume of 26,054 shares, compared to its average volume of 137,924. The firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of 18.18 and a beta of 0.98. GATX has a 52 week low of $97.21 and a 52 week high of $135.65. The stock has a 50-day simple moving average of $129.77 and a 200 day simple moving average of $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.

GATX (NYSE:GATX) last released its quarterly earnings data on Tuesday, January 23rd. The transportation company reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $365.32 million. During the same period in the prior year, the company posted $1.54 earnings per share. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, equities research analysts anticipate that GATX will post 7.53 earnings per share for the current year.

GATX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, March 31st. Stockholders of record on Friday, March 1st were paid a $0.58 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This is a positive change from GATX’s previous quarterly dividend of $0.55. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.81%. GATX’s dividend payout ratio (DPR) is 32.45%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, CEO Robert C. Lyons sold 19,300 shares of GATX stock in a transaction dated 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 transaction, the chief executive officer now owns 44,710 shares in the company, valued at approximately $5,620,047. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Robert C. Lyons sold 19,300 shares of GATX stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $125.70, for a total value of $2,426,010.00. Following the sale, the chief executive officer now owns 44,710 shares of the company’s stock, valued at approximately $5,620,047. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Kevin Hillesland sold 2,200 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 7,711 shares in the company, valued at approximately $1,031,963.13. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,694 shares of company stock worth $5,040,656. 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.