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

GATX (NYSE:GATX) 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

In other GATX news, major shareholder Farm Mutual Automobile I. State acquired 8,984 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was purchased at an average cost of $133.65 per share, for a total transaction of $1,200,711.60. Following the transaction, the insider now owns 3,312,294 shares of the company’s stock, valued at $442,688,093.10. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

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.

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.