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

GATX (NYSE:GATX) announced its quarterly earnings results on Tuesday. The transportation company reported $2.01 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $379.90 million during the quarter, compared to the consensus estimate of $375.80 million. During the same quarter last year, the firm earned $2.20 EPS. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. GATX updated its FY24 guidance to $7.30-7.70 EPS and its FY 2024 guidance to 7.300-7.700 EPS.

GATX Price Performance

NYSE GATX opened at $125.80 on Thursday. The company has a debt-to-equity ratio of 3.28, a quick ratio of 2.79 and a current ratio of 3.39. The firm’s 50 day moving average price is $129.79 and its 200-day moving average price is $119.97. GATX has a 52-week low of $97.21 and a 52-week high of $135.65. The company has a market cap of $4.47 billion, a PE ratio of 17.92 and a beta of 0.98.

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 dividend of $0.58 per share. The ex-dividend date of this dividend was Thursday, February 29th. This is an increase from GATX’s previous quarterly dividend of $0.55. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.84%. GATX’s dividend payout ratio (DPR) is currently 33.05%.

Analyst Ratings Changes

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

Insider Activity

In other news, SVP Kevin Hillesland sold 2,200 shares of the stock in a transaction that occurred 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 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 legal filing with the SEC, which is available through the SEC website. In other GATX news, CFO Thomas A. Ellman sold 18,000 shares of the firm’s stock in a transaction that occurred on 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 legal filing with the SEC, which is available through this hyperlink. Also, SVP Kevin Hillesland sold 2,200 shares of the firm’s stock in a transaction that occurred 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 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 have sold 39,694 shares of company stock worth $5,040,656. Corporate 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.