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

GATX (NYSE:GATX) issued its quarterly earnings results on Tuesday. The transportation company reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.29, Briefing.com reports. The business had revenue of $379.90 million during the quarter, compared to analyst estimates of $375.80 million. GATX had a return on equity of 11.81% and a net margin of 18.37%. GATX’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $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 Price Performance

Shares of GATX traded down $1.14 on Wednesday, reaching $124.98. The stock had a trading volume of 23,414 shares, compared to its average volume of 139,141. The firm has a 50-day moving average of $129.77 and a 200 day moving average of $119.83. The company has a quick ratio of 2.79, a current ratio of 2.79 and a debt-to-equity ratio of 3.26. The firm has a market capitalization of $4.44 billion, a PE ratio of 17.59 and a beta of 0.98. GATX has a twelve month low of $97.21 and a twelve month high of $135.65.

GATX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, March 31st. Stockholders of record on Friday, March 1st were paid 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 1.86%. GATX’s dividend payout ratio is 32.45%.

Insider Activity

In related news, CFO Thomas A. Ellman sold 18,000 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were 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 approximately $4,518,614.66. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other 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 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 Securities & Exchange Commission, which is available through this hyperlink. Also, 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 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 90 days. 1.99% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. TD Cowen boosted their price objective on GATX from $122.00 to $136.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 24th. Susquehanna upped their target price on GATX from $120.00 to $122.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Wells Fargo & Company boosted their target price on shares of GATX from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th.

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.