GATX (NYSE:GATX) Announces Quarterly Earnings Results

GATX (NYSE:GATX) issued its earnings results on Tuesday. The transportation company reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.39), Briefing.com reports. The business had revenue of $386.70 million during the quarter, compared to analyst estimates of $385.45 million. GATX had a net margin of 15.86% and a return on equity of 10.72%. GATX’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.73 EPS. GATX updated its FY24 guidance to $7.30-7.70 EPS and its FY 2024 guidance to 7.300-7.700 EPS.

GATX Stock Up 1.2 %

Shares of NYSE GATX traded up $1.65 during trading hours on Thursday, hitting $136.40. The stock had a trading volume of 35,116 shares, compared to its average volume of 152,835. The firm’s 50-day moving average price is $135.72 and its two-hundred day moving average price is $130.41. GATX has a 52 week low of $97.21 and a 52 week high of $151.33. The company has a market capitalization of $4.86 billion, a P/E ratio of 19.44 and a beta of 0.96. The company has a debt-to-equity ratio of 3.28, a quick ratio of 3.39 and a current ratio of 3.39.

GATX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 30th. Stockholders of record on Friday, June 14th were paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date was Friday, June 14th. GATX’s dividend payout ratio (DPR) is presently 33.05%.

Insider Activity at GATX

In other GATX news, Director Anne L. Arvia sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $131.98, for a total value of $131,980.00. Following the completion of the sale, the director now directly owns 32,477 shares of the company’s stock, valued at $4,286,314.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other GATX news, Director Anne L. Arvia sold 1,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $131.98, for a total transaction of $131,980.00. Following the transaction, the director now directly owns 32,477 shares in the company, valued at $4,286,314.46. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Paul F. Titterton sold 9,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $139.37, for a total value of $1,254,330.00. Following the sale, the executive vice president now owns 11,373 shares of the company’s stock, valued at approximately $1,585,055.01. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,800 shares of company stock valued at $2,056,678. 1.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, Susquehanna upped their price objective on shares of GATX from $120.00 to $122.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th.

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.