GATX (NYSE:GATX) Releases FY24 Earnings Guidance

GATX (NYSE:GATX) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $7.30-7.70 for the period, compared to the consensus estimate of $7.46. GATX also updated its FY 2024 guidance to 7.300-7.700 EPS.

GATX Stock Performance

Shares of GATX stock traded down $0.95 during midday trading on Wednesday, hitting $125.17. The company had a trading volume of 26,264 shares, compared to its average volume of 139,173. The business’s 50 day simple moving average is $129.77 and its two-hundred day simple moving average is $119.83. The stock has a market cap of $4.45 billion, a PE ratio of 17.59 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. GATX has a 1-year low of $97.21 and a 1-year high of $135.65.

GATX (NYSE:GATX) last issued its earnings results on Tuesday, April 23rd. The transportation company reported $2.01 EPS for the quarter, topping the consensus estimate of $1.72 by $0.29. The firm had revenue of $379.90 million during the quarter, compared to analysts’ expectations of $375.80 million. GATX had a return on equity of 11.81% and a net margin of 18.37%. GATX’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period last year, the business earned $2.20 earnings per share. As a group, equities analysts predict that GATX will post 7.53 EPS for the current fiscal year.

GATX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, March 31st. Shareholders of record on Friday, March 1st were issued a dividend of $0.58 per share. The ex-dividend date of this dividend 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 1.85%. GATX’s dividend payout ratio (DPR) is presently 32.45%.

Analysts Set New Price Targets

A number of brokerages have issued reports on GATX. TD Cowen lifted their price objective on GATX from $122.00 to $136.00 and gave the company a market perform rating in a report on Wednesday, January 24th. Wells Fargo & Company lifted their price target on GATX from $130.00 to $140.00 and gave the company an overweight rating in a report on Wednesday, January 24th. Finally, Susquehanna lifted their price target on GATX from $120.00 to $122.00 and gave the company a neutral rating in a report on Wednesday.

Insider Buying and Selling

In other news, SVP Kevin Hillesland sold 2,200 shares of the business’s stock in a transaction dated 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 directly owns 7,711 shares in the company, valued at approximately $1,031,963.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Kevin Hillesland sold 2,200 shares of the business’s stock in a transaction dated 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 directly owns 7,711 shares in the company, valued at approximately $1,031,963.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Thomas A. Ellman sold 18,000 shares of the 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 sale, the chief financial officer now directly 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 a total of 39,694 shares of company stock worth $5,040,656 over the last three months. 1.99% of the stock is currently owned by company insiders.

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.