GATX (NYSE:GATX) Releases 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.

GATX Stock Performance

Shares of NYSE:GATX traded up $0.21 during midday trading on Friday, hitting $128.20. The company’s stock had a trading volume of 4,953 shares, compared to its average volume of 139,407. The company has a debt-to-equity ratio of 3.28, a quick ratio of 2.79 and a current ratio of 3.39. The stock’s 50 day simple moving average is $129.77 and its 200 day simple moving average is $120.07. GATX has a fifty-two week low of $97.21 and a fifty-two week high of $135.65. The stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of 18.23 and a beta of 0.98.

GATX (NYSE:GATX) last posted its earnings results on Tuesday, April 23rd. The transportation company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.29. GATX had a net margin of 17.64% and a return on equity of 11.29%. The company had revenue of $379.90 million during the quarter, compared to analysts’ expectations of $375.80 million. During the same quarter in the previous year, the company posted $2.20 earnings per share. GATX’s quarterly revenue was up 12.1% compared to the same quarter last year. As a group, research analysts anticipate that GATX will post 7.53 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GATX shares. TD Cowen lifted their price target 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. Wells Fargo & Company increased their price target on shares of GATX from $130.00 to $140.00 and gave the company an overweight rating in a research report on Wednesday, January 24th. Finally, Susquehanna increased their price target on shares of GATX from $120.00 to $122.00 and gave the stock a neutral rating in a research note on Wednesday.

Insider Buying and Selling at GATX

In other GATX news, SVP Kevin Hillesland sold 2,200 shares of the business’s 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 $1,031,963.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Thomas A. Ellman sold 18,000 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now owns 35,429 shares in the company, valued at $4,518,614.66. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Kevin Hillesland sold 2,200 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $133.83, for a total transaction of $294,426.00. Following the completion of the transaction, 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 quarter. Insiders own 1.80% 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.