GATX (NYSE:GATX) Releases 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 (EPS) guidance of 7.500-7.700 for the period, compared to the consensus estimate of 7.420. The company issued revenue guidance of -. GATX also updated its FY24 guidance to $7.50-7.70 EPS.

GATX Stock Up 3.0 %

Shares of NYSE:GATX traded up $3.95 during midday trading on Tuesday, hitting $134.98. 23,923 shares of the company’s stock were exchanged, compared to its average volume of 149,331. GATX has a 12 month low of $97.21 and a 12 month high of $151.33. The company has a debt-to-equity ratio of 3.52, a current ratio of 4.97 and a quick ratio of 4.97. The stock has a 50 day moving average price of $135.82 and a 200-day moving average price of $134.58. The company has a market cap of $4.81 billion, a PE ratio of 18.67 and a beta of 0.95.

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

GATX Announces Dividend

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

Analyst Ratings Changes

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 research report on Monday.

Insider Activity at GATX

In other GATX news, major shareholder Farm Mutual Automobile I. State purchased 8,984 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The shares were bought at an average cost of $133.65 per share, for a total transaction of $1,200,711.60. Following the purchase, the insider now owns 3,312,294 shares of the company’s stock, valued at $442,688,093.10. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is currently owned by corporate 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.