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 7.300-7.700 for the period, compared to the consensus earnings per share estimate of 7.560. The company issued revenue guidance of -. GATX also updated its FY24 guidance to $7.30-7.70 EPS.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GATX. Susquehanna increased their price objective on shares of GATX from $120.00 to $122.00 and gave the stock a neutral rating in a research note on Wednesday. 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 note on Wednesday, January 24th. Finally, TD Cowen increased their price objective on shares of GATX from $122.00 to $136.00 and gave the stock a market perform rating in a research note on Wednesday, January 24th.

GATX Price Performance

GATX traded up $0.21 during trading on Friday, hitting $128.20. 4,953 shares of the company traded hands, compared to its average volume of 139,407. The company has a market cap of $4.56 billion, a PE ratio of 18.23 and a beta of 0.98. The stock’s 50-day simple moving average is $129.77 and its two-hundred day simple moving average is $120.07. GATX has a 1 year low of $97.21 and a 1 year high of $135.65. The company has a current ratio of 3.39, a quick ratio of 2.79 and a debt-to-equity ratio of 3.28.

GATX (NYSE:GATX) last posted its earnings results on Tuesday, April 23rd. The transportation company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.29. The company had revenue of $379.90 million during the quarter, compared to analysts’ expectations of $375.80 million. GATX had a net margin of 17.64% and a return on equity of 11.29%. GATX’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the company posted $2.20 earnings per share. As a group, sell-side analysts anticipate that GATX will post 7.53 earnings per share for the current fiscal year.

Insider Activity at GATX

In other GATX news, SVP Kevin Hillesland sold 2,200 shares of the stock in a transaction 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 transaction, the senior vice president now owns 7,711 shares in the company, valued at $1,031,963.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other GATX news, SVP Kevin Hillesland sold 2,200 shares of the stock in a transaction 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 transaction, the senior vice president now owns 7,711 shares in the company, valued at $1,031,963.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert C. Lyons sold 19,300 shares of the firm’s 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 completion of the sale, the chief executive officer now owns 44,710 shares of the company’s stock, valued at approximately $5,620,047. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,694 shares of company stock valued at $5,040,656. Corporate insiders own 1.80% of the company’s stock.

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.