GATX (NYSE:GATX – Get Free Report) announced its quarterly earnings data on Tuesday. The transportation company reported $2.50 earnings per share 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 return on equity of 10.61% and a net margin of 15.86%. The company’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.44 earnings per share. GATX updated its FY24 guidance to $7.50-7.70 EPS and its FY 2024 guidance to 7.500-7.700 EPS.
GATX Stock Down 1.9 %
Shares of GATX traded down $2.72 during mid-day trading on Wednesday, reaching $137.15. The company’s stock had a trading volume of 33,322 shares, compared to its average volume of 150,374. The company has a market cap of $4.88 billion, a price-to-earnings ratio of 19.91 and a beta of 0.95. The business has a fifty day moving average of $135.88 and a 200 day moving average of $134.63. The company has a quick ratio of 4.97, a current ratio of 4.97 and a debt-to-equity ratio of 3.52. GATX has a 1 year low of $97.21 and a 1 year high of $151.33.
GATX Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Friday, September 13th. GATX’s payout ratio is 33.05%.
Insider Activity
Analyst Upgrades and Downgrades
Separately, Susquehanna lifted their price objective on shares of GATX from $122.00 to $140.00 and gave the stock a “neutral” rating in a research note on Monday.
View Our Latest Stock Analysis on GATX
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.
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