GATX (NYSE:GATX) Releases FY 2024 Earnings Guidance

GATX (NYSE:GATX) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 7.500-7.700 for the period, compared to the consensus EPS estimate of 7.420. The company issued revenue guidance of -. GATX also updated its FY24 guidance to $7.50-7.70 EPS.

Analyst Upgrades and Downgrades

Separately, Susquehanna raised their price objective on GATX from $122.00 to $140.00 and gave the stock a “neutral” rating in a research note on Monday.

GATX Price Performance

NYSE GATX opened at $139.05 on Friday. The company has a debt-to-equity ratio of 3.52, a quick ratio of 4.97 and a current ratio of 4.97. The stock has a market cap of $4.95 billion, a price-to-earnings ratio of 19.81 and a beta of 0.95. The business has a 50 day simple moving average of $135.94 and a 200 day simple moving average of $134.68. GATX has a 52-week low of $100.67 and a 52-week high of $151.33.

GATX (NYSE:GATX) last issued its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.54. GATX had a net margin of 15.86% and a return on equity of 10.61%. The company had revenue of $405.40 million during the quarter, compared to the consensus estimate of $391.65 million. During the same quarter in the prior year, the firm earned $1.44 earnings per share. The firm’s revenue was up 12.6% compared to the same quarter last year. Analysts anticipate that GATX will post 7.5 earnings per share for the current fiscal year.

Insider Buying and Selling at GATX

In other news, major shareholder Farm Mutual Automobile I. State acquired 8,984 shares of GATX stock in a transaction dated Wednesday, October 9th. The stock was bought at an average cost of $133.65 per share, with a total value of $1,200,711.60. Following the completion of the transaction, the insider now directly owns 3,312,294 shares of the company’s stock, valued at approximately $442,688,093.10. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.80% 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.