GATX (NYSE:GATX) Updates FY 2024 Earnings Guidance

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

GATX Stock Performance

GATX stock traded up $2.16 during midday trading on Thursday, reaching $127.99. 172,708 shares of the company’s stock traded hands, compared to its average volume of 141,119. GATX has a 52-week low of $97.21 and a 52-week high of $135.65. The stock has a market cap of $4.55 billion, a P/E ratio of 17.83 and a beta of 0.98. The company has a current ratio of 3.39, a quick ratio of 2.79 and a debt-to-equity ratio of 3.28. The stock’s 50-day moving average is $129.80 and its 200 day moving average is $120.01.

GATX (NYSE:GATX) last announced its quarterly earnings data on Tuesday, April 23rd. The transportation company reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 17.64% and a return on equity of 11.29%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.20 earnings per share. As a group, analysts anticipate that GATX will post 7.53 EPS 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 given a dividend of $0.58 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.32 annualized dividend and a yield of 1.81%. This is a positive change from GATX’s previous quarterly dividend of $0.55. GATX’s dividend payout ratio (DPR) is 33.05%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GATX. Wells Fargo & Company lifted their price target on shares of GATX from $130.00 to $140.00 and gave the stock an overweight rating in a research note on Wednesday, January 24th. TD Cowen lifted their price target on shares of 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 price objective on shares of GATX from $120.00 to $122.00 and gave the company a neutral rating in a research report on Wednesday.

Insiders Place Their Bets

In other GATX news, SVP Kevin Hillesland sold 2,200 shares of the company’s stock in a transaction on 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 directly 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 is accessible through this hyperlink. In other news, CFO Thomas A. Ellman sold 18,000 shares of the stock in a transaction dated 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 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 is available through this link. Also, SVP Kevin Hillesland sold 2,200 shares of the 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 sale, the senior vice president now owns 7,711 shares of the company’s stock, valued at $1,031,963.13. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,694 shares of company stock worth $5,040,656. Company insiders own 1.80% 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.