$356.43 Million in Sales Expected for GATX Co. (GATX) This Quarter
Wall Street brokerages expect GATX Co. (NYSE:GATX) to post $356.43 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for GATX’s earnings, with estimates ranging from $349.20 million to $362.40 million. GATX posted sales of $359.60 million in the same quarter last year, which would indicate a negative year over year growth rate of 0.9%. The company is expected to report its next earnings report on Thursday, October 18th.
According to Zacks, analysts expect that GATX will report full year sales of $1.36 billion for the current year, with estimates ranging from $1.35 billion to $1.37 billion. For the next financial year, analysts expect that the firm will report sales of $1.38 billion per share, with estimates ranging from $1.36 billion to $1.40 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover GATX.
GATX (NYSE:GATX) last issued its quarterly earnings results on Thursday, July 19th. The transportation company reported $1.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.24. The firm had revenue of $349.50 million during the quarter, compared to analysts’ expectations of $340.50 million. GATX had a net margin of 37.03% and a return on equity of 11.34%. GATX’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.32 EPS.
NYSE:GATX traded down $0.20 during trading hours on Monday, reaching $83.08. 161,637 shares of the company’s stock were exchanged, compared to its average volume of 175,535. The stock has a market cap of $3.14 billion, a P/E ratio of 17.68, a P/E/G ratio of 1.10 and a beta of 1.39. The company has a debt-to-equity ratio of 2.43, a current ratio of 2.77 and a quick ratio of 2.77. GATX has a 1-year low of $56.00 and a 1-year high of $91.12.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 30th. Shareholders of record on Friday, September 14th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $1.76 dividend on an annualized basis and a yield of 2.12%. GATX’s payout ratio is currently 37.45%.
In other GATX news, EVP Robert C. Lyons sold 4,960 shares of the company’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $86.59, for a total transaction of $429,486.40. Following the completion of the transaction, the executive vice president now owns 66,963 shares in the company, valued at approximately $5,798,326.17. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brian A. Kenney sold 20,743 shares of the company’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $85.94, for a total transaction of $1,782,653.42. Following the transaction, the chief executive officer now owns 238,111 shares of the company’s stock, valued at approximately $20,463,259.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,799 shares of company stock valued at $3,473,517. 3.63% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of GATX by 1.4% in the 2nd quarter. BlackRock Inc. now owns 4,280,856 shares of the transportation company’s stock valued at $317,768,000 after purchasing an additional 58,854 shares in the last quarter. Earnest Partners LLC increased its holdings in shares of GATX by 1.0% in the 1st quarter. Earnest Partners LLC now owns 1,659,467 shares of the transportation company’s stock valued at $113,657,000 after purchasing an additional 16,580 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of GATX by 20.6% in the 2nd quarter. Janus Henderson Group PLC now owns 849,712 shares of the transportation company’s stock valued at $63,074,000 after purchasing an additional 145,019 shares in the last quarter. LSV Asset Management increased its holdings in shares of GATX by 1.3% in the 1st quarter. LSV Asset Management now owns 599,581 shares of the transportation company’s stock valued at $41,065,000 after purchasing an additional 7,472 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of GATX by 3.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 347,731 shares of the transportation company’s stock valued at $23,817,000 after purchasing an additional 12,094 shares in the last quarter.
GATX Corporation leases, operates, manages, and remarkets assets in the rail and marine markets in North America and internationally. The company operates through four segments: Rail North America, Rail International, American Steamship Company (ASC), and Portfolio Management. The Rail North America segment primarily leases railcars and locomotives.
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