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 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 Analyst Weigh In

Several brokerages have commented on GATX. Susquehanna raised their target price on shares of GATX from $115.00 to $120.00 and gave the stock a neutral rating in a report on Wednesday, January 24th. Wells Fargo & Company lifted their price objective on shares of GATX from $130.00 to $140.00 and gave the stock an overweight rating in a research report on Wednesday, January 24th. Finally, TD Cowen increased their target price on GATX from $122.00 to $136.00 and gave the company a market perform rating in a report on Wednesday, January 24th.

GATX Stock Down 1.3 %

GATX traded down $1.75 on Tuesday, reaching $128.21. 54,891 shares of the company traded hands, compared to its average volume of 138,379. The company has a market cap of $4.56 billion, a price-to-earnings ratio of 18.18 and a beta of 0.98. The company has a debt-to-equity ratio of 3.26, a current ratio of 2.79 and a quick ratio of 2.79. The stock’s 50 day moving average price is $129.77 and its 200-day moving average price is $119.83. GATX has a 52-week low of $97.21 and a 52-week high of $135.65.

GATX (NYSE:GATX) last posted its quarterly earnings results on Tuesday, January 23rd. The transportation company reported $1.74 EPS for the quarter, beating the consensus estimate of $1.58 by $0.16. GATX had a net margin of 18.37% and a return on equity of 11.81%. The business had revenue of $368.70 million for the quarter, compared to analysts’ expectations of $365.32 million. During the same period in the previous year, the company posted $1.54 EPS. GATX’s revenue was up 14.3% on a year-over-year basis. On average, sell-side analysts expect that GATX will post 7.53 EPS for the current fiscal year.

GATX Increases Dividend

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

Insider Transactions at GATX

In related news, CFO Thomas A. Ellman sold 18,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $127.54, for a total value of $2,295,720.00. Following the completion of the sale, the chief financial officer now owns 35,429 shares of the company’s stock, valued at approximately $4,518,614.66. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Robert C. Lyons sold 19,300 shares of the firm’s 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 transaction, the chief executive officer now directly owns 44,710 shares of the company’s stock, valued at approximately $5,620,047. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Thomas A. Ellman sold 18,000 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $127.54, for a total transaction of $2,295,720.00. Following the completion of the sale, the chief financial officer now owns 35,429 shares of the company’s stock, valued at $4,518,614.66. The disclosure for this sale can be found here. Insiders sold 39,694 shares of company stock valued at $5,040,656 in the last three months. Corporate insiders own 1.99% 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.