GATX (NYSE:GATX) Updates 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 $7.66. GATX also updated its FY 2024 guidance to 7.300-7.700 EPS.

GATX Stock Down 6.3 %

NYSE:GATX traded down $9.14 during trading hours on Tuesday, hitting $136.21. 53,639 shares of the company traded hands, compared to its average volume of 149,615. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 3.28. The company has a market cap of $4.85 billion, a PE ratio of 19.66 and a beta of 0.96. The firm’s 50-day simple moving average is $135.78 and its 200-day simple moving average is $130.27. GATX has a one year low of $97.21 and a one year high of $151.33.

GATX (NYSE:GATX) last released its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.29. GATX had a net margin of 17.64% and a return on equity of 11.29%. The company had revenue of $379.90 million for the quarter, compared to analyst estimates of $375.80 million. During the same period last year, the firm earned $2.20 earnings per share. The firm’s revenue was up 12.1% on a year-over-year basis. Equities analysts predict that GATX will post 7.5 earnings per share for the current year.

GATX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, June 30th. Shareholders of record on Friday, June 14th were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.32 annualized dividend and a dividend yield of 1.70%. GATX’s dividend payout ratio is currently 33.05%.

Wall Street Analysts Forecast Growth

Separately, Susquehanna upped their target price on GATX from $120.00 to $122.00 and gave the company a neutral rating in a report on Wednesday, April 24th.

Insider Buying and Selling

In other GATX news, EVP Paul F. Titterton sold 9,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $139.37, for a total value of $1,254,330.00. Following the transaction, the executive vice president now directly owns 11,373 shares in the company, valued at $1,585,055.01. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other GATX news, EVP Paul F. Titterton sold 9,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $139.37, for a total value of $1,254,330.00. Following the completion of the sale, the executive vice president now directly owns 11,373 shares of the company’s stock, valued at $1,585,055.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Robert Zmudka sold 4,800 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $139.66, for a total value of $670,368.00. Following the completion of the sale, the vice president now owns 7,493 shares in the company, valued at $1,046,472.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,800 shares of company stock worth $2,056,678. 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.