GATX (NYSE:GATX) Releases Earnings Results, Beats Estimates By $0.54 EPS

GATX (NYSE:GATX) released its quarterly earnings data on Tuesday. The transportation company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.54, Yahoo Finance reports. The business had revenue of $405.40 million during the quarter, compared to analyst estimates of $391.65 million. GATX had a net margin of 15.86% and a return on equity of 10.61%. GATX’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.44 EPS. GATX updated its FY24 guidance to $7.50-7.70 EPS and its FY 2024 guidance to 7.500-7.700 EPS.

GATX Stock Performance

GATX traded down $2.72 during trading on Wednesday, hitting $137.15. The stock had a trading volume of 33,322 shares, compared to its average volume of 150,374. The firm has a market cap of $4.88 billion, a PE ratio of 19.91 and a beta of 0.95. The company has a current ratio of 4.97, a quick ratio of 4.97 and a debt-to-equity ratio of 3.52. GATX has a 12 month low of $97.21 and a 12 month high of $151.33. The company has a 50 day simple moving average of $135.88 and a 200-day simple moving average of $134.63.

GATX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a $0.58 dividend. The ex-dividend date was Friday, September 13th. This represents a $2.32 dividend on an annualized basis and a yield of 1.69%. GATX’s payout ratio is presently 33.05%.

Insider Buying and Selling at GATX

In other GATX news, major shareholder Farm Mutual Automobile I. State acquired 8,984 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were acquired at an average cost of $133.65 per share, for a total transaction of $1,200,711.60. Following the completion of the purchase, the insider now owns 3,312,294 shares of the company’s stock, valued at approximately $442,688,093.10. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.