GATX (NYSE:GATX) Releases Earnings Results, Beats Estimates By $0.54 EPS

GATX (NYSE:GATX) released its quarterly earnings results on Tuesday. The transportation company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.54, Yahoo Finance reports. GATX had a return on equity of 10.61% and a net margin of 15.86%. The firm had revenue of $405.40 million during the quarter, compared to the consensus estimate of $391.65 million. During the same quarter in the prior year, the firm posted $1.44 EPS. The business’s revenue was up 12.6% on a year-over-year basis. GATX updated its FY24 guidance to $7.50-7.70 EPS and its FY 2024 guidance to 7.500-7.700 EPS.

GATX Stock Performance

Shares of GATX stock traded down $2.63 on Wednesday, hitting $137.24. The company’s stock had a trading volume of 44,122 shares, compared to its average volume of 150,427. GATX has a fifty-two week low of $97.21 and a fifty-two 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 stock’s 50 day moving average is $135.88 and its 200-day moving average is $134.63. The company has a market capitalization of $4.89 billion, a PE ratio of 19.54 and a beta of 0.95.

GATX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a $0.58 dividend. The ex-dividend date was Friday, September 13th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.69%. GATX’s payout ratio is presently 33.05%.

Insider Buying and Selling at GATX

In other news, major shareholder Farm Mutual Automobile I. State acquired 8,984 shares of GATX stock in a transaction on Wednesday, October 9th. The shares were purchased at an average cost of $133.65 per share, for a total transaction of $1,200,711.60. Following the completion of the purchase, the insider now directly owns 3,312,294 shares of the company’s stock, valued at approximately $442,688,093.10. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

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

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.