GATX (NYSE:GATX) Releases FY 2024 Earnings Guidance

GATX (NYSE:GATX) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 7.300-7.700 for the period, compared to the consensus estimate of 7.560. The company issued revenue guidance of -. GATX also updated its FY24 guidance to $7.30-7.70 EPS.

GATX Stock Down 1.1 %

GATX stock traded down $1.38 during trading on Wednesday, hitting $124.74. 32,535 shares of the company’s stock were exchanged, compared to its average volume of 139,240. The business has a 50-day moving average price of $129.77 and a two-hundred day moving average price of $119.83. The stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of 17.59 and a beta of 0.98. GATX has a 52-week low of $97.21 and a 52-week high of $135.65. The company has a current ratio of 2.79, a quick ratio of 2.79 and a debt-to-equity ratio of 3.26.

GATX (NYSE:GATX) last posted its earnings results on Tuesday, April 23rd. The transportation company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.29. The firm had revenue of $379.90 million during the quarter, compared to analysts’ expectations of $375.80 million. GATX had a return on equity of 11.81% and a net margin of 18.37%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.20 earnings per share. As a group, equities research analysts expect that GATX will post 7.53 EPS for the current year.

GATX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, March 31st. Shareholders of record on Friday, March 1st were given a dividend of $0.58 per share. 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 1.86%. GATX’s payout ratio is 32.45%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Susquehanna lifted their price target on GATX from $120.00 to $122.00 and gave the stock a neutral rating in a research report on Wednesday. TD Cowen lifted their price target on GATX from $122.00 to $136.00 and gave the stock a market perform rating in a research report on Wednesday, January 24th. Finally, Wells Fargo & Company lifted their price target on GATX from $130.00 to $140.00 and gave the stock an overweight rating in a research report on Wednesday, January 24th.

Insider Activity

In related news, SVP Kevin Hillesland sold 2,200 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $133.83, for a total transaction of $294,426.00. Following the transaction, the senior vice president now owns 7,711 shares of the company’s stock, valued at $1,031,963.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Thomas A. Ellman sold 18,000 shares of the company’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 directly owns 35,429 shares in the company, valued at $4,518,614.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction, the senior vice president now owns 7,711 shares in the company, valued at $1,031,963.13. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,694 shares of company stock valued at $5,040,656. Company insiders own 1.99% 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.