GATX (NYSE:GATX) Releases FY 2024 Earnings Guidance

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

Wall Street Analysts Forecast Growth

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

GATX Trading Down 1.1 %

NYSE GATX traded down $1.38 during trading on Wednesday, hitting $124.74. The company had a trading volume of 32,535 shares, compared to its average volume of 139,240. 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 has a one year low of $97.21 and a one year high of $135.65. The company has a market cap of $4.43 billion, a price-to-earnings ratio of 17.59 and a beta of 0.98. The company’s fifty day moving average is $129.77 and its 200-day moving average is $119.83.

GATX (NYSE:GATX) last released its earnings results on Tuesday, April 23rd. The transportation company reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.29. The firm had revenue of $379.90 million for the quarter, compared to the consensus estimate of $375.80 million. GATX had a net margin of 18.37% and a return on equity of 11.81%. The company’s revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.20 EPS. On average, sell-side analysts predict 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 given a $0.58 dividend. The ex-dividend date was Thursday, February 29th. This is an increase from GATX’s previous quarterly dividend of $0.55. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.86%. GATX’s dividend payout ratio is currently 32.45%.

Insider Transactions at GATX

In related news, SVP Kevin Hillesland sold 2,200 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $133.83, for a total transaction of $294,426.00. Following the sale, 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 Securities & Exchange Commission, which is accessible through the SEC website. In other GATX news, SVP Kevin Hillesland sold 2,200 shares of the company’s stock in a transaction dated 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 approximately $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 in the last three months. 1.99% of the stock is currently owned by company 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.