GATX (NYSE:GATX) Announces Quarterly Earnings Results

GATX (NYSE:GATX) announced its quarterly earnings results on Tuesday. The transportation company reported $2.01 EPS for the quarter, beating the consensus estimate of $1.72 by $0.29, Briefing.com reports. The company had revenue of $379.90 million for the quarter, compared to analyst estimates of $375.80 million. GATX had a net margin of 18.37% and a return on equity of 11.81%. GATX’s revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.20 earnings per share. GATX updated its FY24 guidance to $7.30-7.70 EPS and its FY 2024 guidance to 7.300-7.700 EPS.

GATX Stock Down 0.9 %

Shares of GATX stock traded down $1.08 during midday trading on Wednesday, hitting $125.04. The company’s stock had a trading volume of 24,277 shares, compared to its average volume of 139,141. GATX has a 1-year low of $97.21 and a 1-year high of $135.65. The company has a quick ratio of 2.79, a current ratio of 2.79 and a debt-to-equity ratio of 3.26. The firm has a market capitalization of $4.44 billion, a P/E ratio of 17.59 and a beta of 0.98. The stock has a 50-day simple moving average of $129.77 and a 200-day simple moving average of $119.83.

GATX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, March 31st. Stockholders of record on Friday, March 1st were issued a dividend of $0.58 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.86%. This is a positive change from GATX’s previous quarterly dividend of $0.55. GATX’s payout ratio is currently 32.45%.

Analyst Upgrades and Downgrades

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

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 dated 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 of the company’s stock, valued at approximately $1,031,963.13. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Kevin Hillesland sold 2,200 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $133.83, for a total transaction of $294,426.00. Following the transaction, the senior vice president now owns 7,711 shares in the company, valued at approximately $1,031,963.13. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Robert C. Lyons sold 19,300 shares of the company’s 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 completion of the sale, the chief executive officer now owns 44,710 shares of the company’s stock, valued at $5,620,047. The disclosure for this sale can be found here. Insiders have sold a total of 39,694 shares of company stock valued at $5,040,656 in the last 90 days. 1.99% of the stock is currently owned by corporate insiders.

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.