GATX (NYSE:GATX) Issues FY24 Earnings Guidance

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

Wall Street Analysts Forecast Growth

Separately, Susquehanna boosted 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 Stock Performance

Shares of GATX stock traded up $3.95 on Tuesday, reaching $134.98. The stock had a trading volume of 23,923 shares, compared to its average volume of 149,331. The company has a quick ratio of 4.97, a current ratio of 4.97 and a debt-to-equity ratio of 3.52. The firm’s 50-day moving average is $135.82 and its two-hundred day moving average is $134.58. The firm has a market capitalization of $4.81 billion, a price-to-earnings ratio of 18.67 and a beta of 0.95. GATX has a 12 month low of $97.21 and a 12 month high of $151.33.

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

GATX Announces Dividend

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

Insider Buying and Selling at GATX

In related news, major shareholder Farm Mutual Automobile I. State purchased 8,984 shares of the stock in a transaction on Wednesday, October 9th. The shares were purchased at an average cost of $133.65 per share, with a total value of $1,200,711.60. Following the acquisition, the insider now directly owns 3,312,294 shares in the company, valued at $442,688,093.10. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible 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.