GATX (NYSE:GATX) Updates FY24 Earnings Guidance

GATX (NYSE:GATX) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $7.50-7.70 for the period, compared to the consensus earnings per share estimate of $7.47. GATX also updated its FY 2024 guidance to 7.500-7.700 EPS.

Analyst Upgrades and Downgrades

Separately, Susquehanna increased their price target on shares of GATX from $122.00 to $140.00 and gave the stock a “neutral” rating in a research report on Monday.

GATX Price Performance

Shares of NYSE GATX traded up $3.95 during trading hours on Tuesday, hitting $134.98. 23,923 shares of the stock were exchanged, compared to its average volume of 149,331. The company has a debt-to-equity ratio of 3.52, a quick ratio of 4.97 and a current ratio of 4.97. The company has a market cap of $4.81 billion, a PE ratio of 18.67 and a beta of 0.95. The company’s fifty day simple moving average is $135.82 and its two-hundred day simple moving average is $134.58. GATX has a 1-year low of $97.21 and a 1-year high of $151.33.

GATX (NYSE:GATX) last posted its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.82 by ($0.39). The firm had revenue of $386.70 million for the quarter, compared to analyst estimates of $385.45 million. GATX had a return on equity of 10.61% and a net margin of 15.86%. The business’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.73 EPS. On average, sell-side analysts predict that GATX will post 7.5 EPS for the current year.

GATX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a dividend of $0.58 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.72%. GATX’s payout ratio is presently 33.05%.

Insiders Place Their Bets

In related news, major shareholder Farm Mutual Automobile I. State bought 8,984 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were purchased at an average price of $133.65 per share, with a total value of $1,200,711.60. Following the completion of the purchase, the insider now owns 3,312,294 shares in the company, valued at $442,688,093.10. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 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.