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 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.

GATX Price Performance

NYSE GATX traded up $3.95 on Tuesday, hitting $134.98. The stock had a trading volume of 23,923 shares, compared to its average volume of 149,331. GATX has a 52-week low of $97.21 and a 52-week high of $151.33. The company has a debt-to-equity ratio of 3.52, a quick ratio of 4.97 and a current ratio of 4.97. The company has a market capitalization of $4.81 billion, a price-to-earnings ratio of 18.67 and a beta of 0.95. The firm has a 50-day moving average of $135.82 and a 200-day moving average of $134.58.

GATX (NYSE:GATX) last issued its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.39). The company had revenue of $386.70 million during the quarter, compared to the consensus estimate of $385.45 million. GATX had a return on equity of 10.61% and a net margin of 15.86%. GATX’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.73 EPS. Equities analysts expect that GATX will post 7.5 EPS for the current year.

GATX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Friday, September 13th. GATX’s payout ratio is 33.05%.

Wall Street Analysts Forecast Growth

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

Insider Activity at GATX

In other news, major shareholder Farm Mutual Automobile I. State purchased 8,984 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were acquired at an average price of $133.65 per share, with a total value of $1,200,711.60. Following the acquisition, the insider now directly owns 3,312,294 shares in the company, valued at approximately $442,688,093.10. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.80% of the stock is owned by insiders.

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.