GATX (NYSE:GATX) Updates FY 2024 Earnings Guidance

GATX (NYSE:GATX) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 7.500-7.700 for the period, compared to the consensus earnings per share estimate of 7.420. The company issued revenue guidance of -. GATX also updated its FY24 guidance to $7.50-7.70 EPS.

Analyst Upgrades and Downgrades

Separately, Susquehanna boosted their target price on shares of GATX from $122.00 to $140.00 and gave the stock a “neutral” rating in a research report on Monday.

GATX Stock Down 1.0 %

Shares of NYSE:GATX traded down $1.33 during midday trading on Wednesday, reaching $138.54. The company had a trading volume of 4,416 shares, compared to its average volume of 150,233. The company has a debt-to-equity ratio of 3.52, a current ratio of 4.97 and a quick ratio of 4.97. GATX has a one year low of $97.21 and a one year high of $151.33. The stock’s fifty day moving average price is $135.88 and its 200-day moving average price is $134.63. The stock has a market capitalization of $4.93 billion, a P/E ratio of 19.91 and a beta of 0.95.

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

GATX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a dividend of $0.58 per share. The ex-dividend date was Friday, September 13th. This represents a $2.32 annualized dividend and a dividend yield of 1.67%. GATX’s dividend payout ratio is currently 33.05%.

Insider Transactions at GATX

In other news, major shareholder Farm Mutual Automobile I. State purchased 8,984 shares of the stock in a transaction dated Wednesday, October 9th. The stock was acquired at an average price of $133.65 per share, for a total transaction of $1,200,711.60. Following the completion of the transaction, the insider now 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.