GATX (NYSE:GATX) Updates 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.

Wall Street Analyst Weigh In

A number of brokerages have commented on GATX. Wells Fargo & Company raised their price objective on GATX from $130.00 to $140.00 and gave the stock an overweight rating in a research report on Wednesday, January 24th. TD Cowen boosted their price objective on GATX from $122.00 to $136.00 and gave the stock a market perform rating in a research note on Wednesday, January 24th. Finally, Susquehanna boosted their target price on GATX from $115.00 to $120.00 and gave the stock a neutral rating in a research report on Wednesday, January 24th.

GATX Stock Down 1.5 %

NYSE GATX traded down $1.96 during trading hours on Tuesday, hitting $128.00. 26,054 shares of the company traded hands, compared to its average volume of 137,924. The business’s 50-day moving average is $129.77 and its 200-day moving average is $119.83. GATX has a twelve month low of $97.21 and a twelve month high of $135.65. The company has a debt-to-equity ratio of 3.26, a quick ratio of 2.79 and a current ratio of 2.79. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of 18.18 and a beta of 0.98.

GATX (NYSE:GATX) last released its quarterly earnings data on Tuesday, January 23rd. The transportation company reported $1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.16. The firm had revenue of $368.70 million for the quarter, compared to analyst estimates of $365.32 million. GATX had a return on equity of 11.81% and a net margin of 18.37%. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.54 earnings per share. Sell-side analysts anticipate that GATX will post 7.53 earnings per share for the current year.

GATX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, March 31st. Shareholders of record on Friday, March 1st were paid a $0.58 dividend. This is a positive change from GATX’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.32 annualized dividend and a yield of 1.81%. GATX’s dividend payout ratio is currently 32.45%.

Insider Buying and Selling at GATX

In other GATX news, CEO Robert C. Lyons sold 19,300 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $125.70, for a total value of $2,426,010.00. Following the sale, the chief executive officer now owns 44,710 shares in the company, valued at $5,620,047. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other GATX news, CFO Thomas A. Ellman sold 18,000 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $127.54, for a total value of $2,295,720.00. Following the sale, the chief financial officer now owns 35,429 shares of the company’s stock, valued at approximately $4,518,614.66. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Robert C. Lyons sold 19,300 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $125.70, for a total value of $2,426,010.00. Following the sale, the chief executive officer now directly owns 44,710 shares in the company, valued at approximately $5,620,047. The disclosure for this sale can be found here. Insiders have sold 39,694 shares of company stock worth $5,040,656 over the last 90 days. 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.