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

GATX (NYSE:GATX) posted 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. GATX had a net margin of 17.64% and a return on equity of 11.29%. The business had revenue of $379.90 million during the quarter, compared to analyst estimates of $375.80 million. During the same period in the prior year, the firm earned $2.20 earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year. GATX updated its FY24 guidance to $7.30-7.70 EPS and its FY 2024 guidance to 7.300-7.700 EPS.

GATX Stock Performance

GATX stock traded up $0.52 during mid-day trading on Friday, hitting $128.51. 2,281 shares of the company’s stock traded hands, compared to its average volume of 139,393. The firm has a 50 day simple moving average of $129.77 and a two-hundred day simple moving average of $120.07. The company has a debt-to-equity ratio of 3.28, a current ratio of 3.39 and a quick ratio of 2.79. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 18.23 and a beta of 0.98. GATX has a fifty-two week low of $97.21 and a fifty-two week high of $135.65.

Wall Street Analysts Forecast Growth

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

Insider Transactions at GATX

In related news, SVP Kevin Hillesland sold 2,200 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $133.83, for a total transaction of $294,426.00. Following the sale, the senior vice president now owns 7,711 shares in the company, valued at approximately $1,031,963.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Kevin Hillesland sold 2,200 shares of the stock in a transaction 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 completion of the sale, the senior vice president now directly owns 7,711 shares in the company, valued at $1,031,963.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert C. Lyons sold 19,300 shares of GATX stock in a transaction 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 transaction, the chief executive officer now directly owns 44,710 shares of the company’s stock, valued at approximately $5,620,047. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,694 shares of company stock valued at $5,040,656. 1.80% of the stock is currently owned by corporate 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.