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.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Wells Fargo & Company upped their price target on GATX from $130.00 to $140.00 and gave the stock an overweight rating in a report on Wednesday, January 24th. TD Cowen upped their price target on GATX from $122.00 to $136.00 and gave the stock a market perform rating in a 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 report on Wednesday.

GATX Stock Up 1.7 %

Shares of GATX stock traded up $2.16 on Thursday, hitting $127.99. 172,708 shares of the company’s stock traded hands, compared to its average volume of 141,119. The stock has a market cap of $4.55 billion, a P/E ratio of 17.83 and a beta of 0.98. The company has a quick ratio of 2.79, a current ratio of 3.39 and a debt-to-equity ratio of 3.28. The firm’s 50-day moving average is $129.80 and its 200 day moving average is $120.01. 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, April 23rd. The transportation company reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.29. The business had revenue of $379.90 million for the quarter, compared to analyst estimates of $375.80 million. GATX had a return on equity of 11.29% and a net margin of 17.64%. The business’s revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.20 EPS. Equities analysts anticipate that GATX will post 7.53 earnings per share for the current year.

GATX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, March 31st. Investors of record on Friday, March 1st were given a dividend of $0.58 per share. This is a positive change from GATX’s previous quarterly dividend of $0.55. This represents a $2.32 annualized dividend and a dividend yield of 1.81%. The ex-dividend date was Thursday, February 29th. GATX’s dividend payout ratio is currently 33.05%.

Insider Activity at GATX

In other GATX news, CFO Thomas A. Ellman sold 18,000 shares of the 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 sale, the chief financial officer now directly owns 35,429 shares of the company’s stock, valued at $4,518,614.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 transaction of $2,295,720.00. Following the transaction, the chief financial officer now directly owns 35,429 shares of the company’s stock, valued at $4,518,614.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kevin Hillesland sold 2,200 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $133.83, for a total value of $294,426.00. Following the transaction, the senior vice president now directly owns 7,711 shares in the company, valued at $1,031,963.13. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,694 shares of company stock valued at $5,040,656. Corporate insiders own 1.80% 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.