GATX (NYSE:GATX) Releases 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 $7.46. GATX also updated its FY 2024 guidance to 7.300-7.700 EPS.

GATX Trading Down 0.8 %

Shares of NYSE:GATX traded down $0.95 during trading on Wednesday, reaching $125.17. The company’s stock had a trading volume of 26,264 shares, compared to its average volume of 139,173. The company has a current ratio of 2.79, a quick ratio of 2.79 and a debt-to-equity ratio of 3.26. GATX has a 12 month low of $97.21 and a 12 month high of $135.65. The firm’s 50 day simple moving average is $129.77 and its two-hundred day simple moving average is $119.83. The stock has a market capitalization of $4.45 billion, a PE ratio of 17.59 and a beta of 0.98.

GATX (NYSE:GATX) last posted its quarterly earnings data on Tuesday, April 23rd. The transportation company reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.29. GATX had a net margin of 18.37% and a return on equity of 11.81%. The company had revenue of $379.90 million for the quarter, compared to analyst estimates of $375.80 million. During the same period in the prior year, the company posted $2.20 EPS. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, research analysts predict that GATX will post 7.53 EPS for the current fiscal year.

GATX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, March 31st. Investors of record on Friday, March 1st were given a $0.58 dividend. This is a positive change from GATX’s previous quarterly dividend of $0.55. This represents a $2.32 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date was Thursday, February 29th. GATX’s dividend payout ratio is 32.45%.

Analysts Set New Price Targets

GATX has been the topic of a number of recent research reports. Wells Fargo & Company increased their price objective on shares of GATX from $130.00 to $140.00 and gave the company an overweight rating in a research note on Wednesday, January 24th. TD Cowen increased their price objective on shares of GATX from $122.00 to $136.00 and gave the company a market perform rating in a research note on Wednesday, January 24th. Finally, Susquehanna increased their price objective on shares of GATX from $120.00 to $122.00 and gave the company a neutral rating in a research note on Wednesday.

Insider Transactions at GATX

In other news, CEO Robert C. Lyons sold 19,300 shares of GATX stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $125.70, for a total transaction of $2,426,010.00. Following the completion of the sale, the chief executive officer now directly owns 44,710 shares in the company, valued at $5,620,047. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Robert C. Lyons sold 19,300 shares of GATX stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $125.70, for a total transaction of $2,426,010.00. Following the completion of the sale, the chief executive officer now directly owns 44,710 shares in the company, valued at $5,620,047. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Thomas A. Ellman sold 18,000 shares of GATX stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $127.54, for a total transaction of $2,295,720.00. Following the sale, the chief financial officer now owns 35,429 shares of the company’s stock, valued at $4,518,614.66. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,694 shares of company stock worth $5,040,656. Company insiders own 1.99% of the company’s stock.

About GATX

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.