GATX (NYSE:GATX) Updates FY24 Earnings Guidance

GATX (NYSE:GATX) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $7.30-7.70 for the period, compared to the consensus earnings per share estimate of $7.46.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. TD Cowen lifted their target price on GATX from $122.00 to $136.00 and gave the stock a market perform rating in a report on Wednesday, January 24th. Wells Fargo & Company lifted their target price on GATX from $130.00 to $140.00 and gave the stock an overweight rating in a report on Wednesday, January 24th. Finally, Susquehanna lifted their target price on GATX from $115.00 to $120.00 and gave the stock a neutral rating in a report on Wednesday, January 24th.

GATX Stock Down 0.0 %

Shares of NYSE:GATX opened at $129.97 on Tuesday. The company has a market capitalization of $4.62 billion, a price-to-earnings ratio of 18.18 and a beta of 0.98. The company has a debt-to-equity ratio of 3.26, a current ratio of 2.79 and a quick ratio of 2.79. The business’s 50-day moving average is $129.77 and its 200-day moving average is $119.83. GATX has a 1 year low of $97.21 and a 1 year high of $135.65.

GATX (NYSE:GATX) last announced its quarterly earnings data on Tuesday, January 23rd. The transportation company reported $1.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.16. The company had revenue of $368.70 million for the quarter, compared to the consensus estimate of $365.32 million. GATX had a return on equity of 11.81% and a net margin of 18.37%. The firm’s revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.54 EPS. Equities research analysts predict that GATX will post 7.53 earnings per share for the current year.

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 paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.79%. This is an increase from GATX’s previous quarterly dividend of $0.55. The ex-dividend date was Thursday, February 29th. GATX’s payout ratio is currently 32.45%.

Insider Activity

In other news, CEO Robert C. Lyons sold 19,300 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $125.70, for a total value of $2,426,010.00. Following the transaction, the chief executive officer now directly owns 44,710 shares of the company’s stock, valued at approximately $5,620,047. The sale was disclosed in a document filed 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 the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $127.54, for a total transaction of $2,295,720.00. Following the transaction, the chief financial officer now directly owns 35,429 shares of the company’s stock, valued at approximately $4,518,614.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Robert C. Lyons sold 19,300 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $125.70, for a total value of $2,426,010.00. Following the transaction, the chief executive officer now directly owns 44,710 shares in the company, valued at $5,620,047. 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 ninety days. 1.99% of the stock is 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.