GATX (NYSE:GATX) Releases FY 2024 Earnings Guidance

GATX (NYSE:GATX) updated its FY 2024 earnings guidance on Tuesday. 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.

GATX Price Performance

Shares of GATX traded down $1.75 during mid-day trading on Tuesday, hitting $128.21. 54,891 shares of the company were exchanged, compared to its average volume of 138,379. GATX has a 1-year low of $97.21 and a 1-year high of $135.65. The company has a 50 day moving average of $129.77 and a 200-day moving average of $119.83. The company has a debt-to-equity ratio of 3.26, a quick ratio of 2.79 and a current ratio of 2.79. The stock has a market cap of $4.56 billion, a price-to-earnings ratio of 18.18 and a beta of 0.98.

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

GATX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, March 31st. Investors of record on Friday, March 1st were given 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 dividend payout ratio (DPR) is presently 32.45%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. TD Cowen raised their price target on GATX from $122.00 to $136.00 and gave the company a market perform rating in a report on Wednesday, January 24th. Susquehanna boosted their target price on shares of GATX from $115.00 to $120.00 and gave the stock a neutral rating in a research report on Wednesday, January 24th. Finally, 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 report on Wednesday, January 24th.

Insider Buying and Selling

In other news, CEO Robert C. Lyons sold 19,300 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 44,710 shares in the company, valued at $5,620,047. 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 GATX stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $125.70, for a total transaction of $2,426,010.00. Following the completion of the transaction, the chief executive officer now directly owns 44,710 shares in the company, valued at approximately $5,620,047. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas A. Ellman sold 18,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were 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 directly owns 35,429 shares in the company, valued at approximately $4,518,614.66. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,694 shares of company stock valued at $5,040,656. 1.99% of the stock is owned by insiders.

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.