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

GATX (NYSE:GATX) issued its earnings results on Tuesday. The transportation company reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.29, Briefing.com reports. GATX had a net margin of 17.64% and a return on equity of 11.29%. The company had revenue of $379.90 million for the quarter, compared to analysts’ expectations of $375.80 million. During the same period in the prior year, the business earned $2.20 EPS. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. GATX updated its FY24 guidance to $7.30-7.70 EPS and its FY 2024 guidance to 7.300-7.700 EPS.

GATX Stock Performance

GATX stock traded up $0.52 during trading hours on Friday, hitting $128.51. 2,281 shares of the stock traded hands, compared to its average volume of 139,393. GATX has a 1 year low of $97.21 and a 1 year high of $135.65. The stock has a market capitalization of $4.57 billion, a price-to-earnings ratio of 18.23 and a beta of 0.98. The company has a debt-to-equity ratio of 3.28, a current ratio of 3.39 and a quick ratio of 2.79. The firm’s 50 day moving average price is $129.77 and its 200-day moving average price is $120.07.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company raised their price objective on GATX from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. TD Cowen increased their target price on shares of GATX from $122.00 to $136.00 and gave the company a “market perform” rating in a research report on Wednesday, January 24th. Finally, Susquehanna raised their price objective on GATX from $120.00 to $122.00 and gave the stock a “neutral” rating in a research report on Wednesday.

Insider Buying and Selling

In other news, SVP Kevin Hillesland sold 2,200 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $133.83, for a total value of $294,426.00. Following the sale, the senior vice president now owns 7,711 shares in the company, valued at $1,031,963.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Robert C. Lyons sold 19,300 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 44,710 shares of the company’s stock, valued at $5,620,047. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kevin Hillesland sold 2,200 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $133.83, for a total transaction of $294,426.00. Following the completion of 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. Insiders sold 39,694 shares of company stock valued at $5,040,656 over the last quarter. 1.80% of the stock is currently owned by company insiders.

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.