GATX (NYSE:GATX) Releases Earnings Results, Beats Expectations By $0.29 EPS

GATX (NYSE:GATX) released its quarterly earnings results on Tuesday. The transportation company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.29, Briefing.com reports. The company had revenue of $379.90 million during the quarter, compared to analysts’ expectations of $375.80 million. GATX had a net margin of 18.37% and a return on equity of 11.81%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.20 earnings per share. GATX updated its FY24 guidance to $7.30-7.70 EPS and its FY 2024 guidance to 7.300-7.700 EPS.

GATX Trading Down 0.9 %

GATX traded down $1.08 during trading on Wednesday, hitting $125.04. The company’s stock had a trading volume of 24,277 shares, compared to its average volume of 139,141. The firm has a market capitalization of $4.44 billion, a P/E ratio of 17.59 and a beta of 0.98. GATX has a twelve month low of $97.21 and a twelve month high of $135.65. The stock’s fifty day moving average price is $129.77 and its 200-day moving average price is $119.83. The company has a quick ratio of 2.79, a current ratio of 2.79 and a debt-to-equity ratio of 3.26.

GATX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, March 31st. Stockholders of record on Friday, March 1st were given a $0.58 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This is a positive change from GATX’s previous quarterly dividend of $0.55. This represents a $2.32 annualized dividend and a dividend yield of 1.86%. GATX’s dividend payout ratio (DPR) is 32.45%.

Insider Transactions at GATX

In other news, SVP Kevin Hillesland sold 2,200 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $133.83, for a total value of $294,426.00. Following the transaction, the senior vice president now owns 7,711 shares in the company, valued at $1,031,963.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Thomas A. Ellman sold 18,000 shares of GATX stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $127.54, for a total value of $2,295,720.00. Following the completion of the transaction, the chief financial officer now directly owns 35,429 shares in the company, valued at approximately $4,518,614.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kevin Hillesland sold 2,200 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $133.83, for a total value of $294,426.00. Following the sale, the senior vice president now directly owns 7,711 shares in the company, valued at approximately $1,031,963.13. The disclosure for this sale can be found here. Insiders have sold 39,694 shares of company stock valued at $5,040,656 in the last 90 days. 1.99% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

GATX has been the subject of a number of recent analyst reports. TD Cowen increased their price target 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. Susquehanna lifted their target price on shares of GATX from $120.00 to $122.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Wells Fargo & Company raised their price objective on shares of GATX from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th.

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.