GATX (NYSE:GATX) Announces Quarterly Earnings Results, Beats Estimates By $0.29 EPS

GATX (NYSE:GATX) announced its earnings results on Tuesday. The transportation company reported $2.01 EPS for the quarter, topping the consensus estimate of $1.72 by $0.29, Briefing.com reports. The business had revenue of $379.90 million for the quarter, compared to the consensus estimate of $375.80 million. GATX had a return on equity of 11.81% and a net margin of 18.37%. GATX’s revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.20 EPS. 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 NYSE:GATX traded down $1.14 during trading on Wednesday, hitting $124.98. The company’s stock had a trading volume of 23,414 shares, compared to its average volume of 139,141. The company has a market capitalization of $4.44 billion, a PE ratio of 17.59 and a beta of 0.98. The business has a 50 day moving average price of $129.77 and a two-hundred day moving average price of $119.83. GATX has a fifty-two week low of $97.21 and a fifty-two week high of $135.65. The company has a debt-to-equity ratio of 3.26, a quick ratio of 2.79 and a current ratio of 2.79.

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 dividend of $0.58 per share. The ex-dividend date was Thursday, February 29th. This is a boost 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 (DPR) is 32.45%.

Wall Street Analysts Forecast Growth

GATX has been the topic of a number of recent research reports. Wells Fargo & Company raised their price objective on GATX from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. TD Cowen lifted their target price on GATX from $122.00 to $136.00 and gave the company a “market perform” rating in a research report on Wednesday, January 24th. Finally, Susquehanna upped their price target on GATX from $120.00 to $122.00 and gave the stock a “neutral” rating in a research note on Wednesday.

Insider Activity

In other news, CFO Thomas A. Ellman sold 18,000 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now owns 35,429 shares in the company, valued at $4,518,614.66. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Thomas A. Ellman sold 18,000 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 35,429 shares in the company, valued at approximately $4,518,614.66. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Kevin Hillesland sold 2,200 shares of GATX stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $133.83, for a total value of $294,426.00. Following the sale, the senior vice president now owns 7,711 shares in the company, valued at $1,031,963.13. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,694 shares of company stock valued at $5,040,656. 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.