GATX (NYSE:GATX) Issues Earnings Results

GATX (NYSE:GATX) posted its quarterly earnings data on Tuesday. The transportation company reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.29, Briefing.com reports. GATX had a return on equity of 11.29% and a net margin of 17.64%. The firm had revenue of $379.90 million for the quarter, compared to analyst estimates of $375.80 million. During the same quarter last year, the company earned $2.20 EPS. The company’s revenue was up 12.1% on a year-over-year basis. GATX updated its FY24 guidance to $7.30-7.70 EPS and its FY 2024 guidance to 7.300-7.700 EPS.

GATX Trading Down 0.3 %

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

GATX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, March 31st. Investors of record on Friday, March 1st were issued a dividend of $0.58 per share. This is an increase from GATX’s previous quarterly dividend of $0.55. The ex-dividend date was Thursday, February 29th. This represents a $2.32 annualized dividend and a dividend yield of 1.84%. GATX’s dividend payout ratio (DPR) is 33.05%.

Insider Activity at GATX

In other GATX news, CEO Robert C. Lyons sold 19,300 shares of GATX stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $125.70, for a total transaction 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 this link. In other news, SVP Kevin Hillesland sold 2,200 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $133.83, for a total value of $294,426.00. Following the transaction, the senior vice president now directly owns 7,711 shares of the company’s stock, valued at approximately $1,031,963.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert C. Lyons sold 19,300 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $125.70, for a total value of $2,426,010.00. Following the completion of 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 a total of 39,694 shares of company stock valued at $5,040,656 in the last 90 days. 1.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GATX shares. Susquehanna lifted their price target on GATX from $120.00 to $122.00 and gave the company a “neutral” rating in a research note on Wednesday. TD Cowen lifted their price target on GATX from $122.00 to $136.00 and gave the company a “market perform” rating in a research note on Wednesday, January 24th. Finally, Wells Fargo & Company lifted their price target on GATX from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th.

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.