GATX (NYSE:GATX) Issues FY24 Earnings Guidance

GATX (NYSE:GATX) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $7.50-7.70 for the period, compared to the consensus EPS estimate of $7.47. GATX also updated its FY 2024 guidance to 7.500-7.700 EPS.

GATX Stock Performance

GATX stock traded down $1.33 on Wednesday, hitting $138.54. The company’s stock had a trading volume of 4,416 shares, compared to its average volume of 150,233. The firm has a 50 day moving average of $135.88 and a two-hundred day moving average of $134.63. GATX has a 1 year low of $97.21 and a 1 year high of $151.33. The stock has a market cap of $4.93 billion, a price-to-earnings ratio of 19.91 and a beta of 0.95. The company has a current ratio of 4.97, a quick ratio of 4.97 and a debt-to-equity ratio of 3.52.

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

GATX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders 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 dividend on an annualized basis and a yield of 1.67%. GATX’s payout ratio is currently 33.05%.

Wall Street Analysts Forecast Growth

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

Insider Activity at GATX

In related news, major shareholder Farm Mutual Automobile I. State acquired 8,984 shares of GATX stock in a transaction that occurred on Wednesday, October 9th. The stock was purchased at an average price of $133.65 per share, for a total transaction of $1,200,711.60. Following the completion of the purchase, the insider now directly owns 3,312,294 shares of the company’s stock, valued at approximately $442,688,093.10. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.