GATX (NYSE:GATX) Releases FY24 Earnings Guidance

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

GATX Trading Down 1.0 %

Shares of GATX stock traded down $1.33 on Wednesday, reaching $138.54. The company had a trading volume of 4,416 shares, compared to its average volume of 150,233. The firm’s 50 day moving average price is $135.88 and its two-hundred day moving average price is $134.63. The firm has a market cap of $4.93 billion, a PE ratio of 19.91 and a beta of 0.95. GATX has a 52-week low of $97.21 and a 52-week high of $151.33. The company has a debt-to-equity ratio of 3.52, a quick ratio of 4.97 and a current ratio of 4.97.

GATX (NYSE:GATX) last released its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.54. The business had revenue of $405.40 million for the quarter, compared to the consensus estimate of $391.65 million. GATX had a net margin of 15.86% and a return on equity of 10.61%. The business’s revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.44 EPS. Sell-side analysts predict that GATX will post 7.5 earnings per share for the current fiscal year.

GATX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Friday, September 13th. GATX’s dividend payout ratio (DPR) is currently 33.05%.

Analyst Ratings Changes

Separately, Susquehanna lifted their price objective on shares of GATX from $122.00 to $140.00 and gave the company a “neutral” rating in a report on Monday.

Insiders Place Their Bets

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

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.