GATX (NYSE:GATX) Releases Earnings Results, Beats Expectations By $0.29 EPS

GATX (NYSE:GATX) announced its quarterly earnings data on Tuesday. The transportation company reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.29, Briefing.com reports. GATX had a net margin of 18.37% and a return on equity of 11.81%. The company had revenue of $379.90 million during the quarter, compared to analysts’ expectations of $375.80 million. During the same quarter in the prior year, the company earned $2.20 EPS. GATX’s revenue was up 12.1% compared to the same quarter last year. GATX updated its FY24 guidance to $7.30-7.70 EPS and its FY 2024 guidance to 7.300-7.700 EPS.

GATX Stock Performance

GATX stock traded down $0.27 during trading on Wednesday, hitting $125.85. 3,374 shares of the company’s stock traded hands, compared to its average volume of 138,905. The company has a quick ratio of 2.79, a current ratio of 2.79 and a debt-to-equity ratio of 3.26. GATX has a 52 week low of $97.21 and a 52 week high of $135.65. The stock has a fifty day moving average price of $129.77 and a two-hundred day moving average price of $119.83. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 17.59 and a beta of 0.98.

GATX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, March 31st. Investors of record on Friday, March 1st were paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend was Thursday, February 29th. This is a positive change from GATX’s previous quarterly dividend of $0.55. GATX’s payout ratio is 32.45%.

Insider Buying and Selling at GATX

In other news, SVP Kevin Hillesland sold 2,200 shares of the company’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Robert C. Lyons sold 19,300 shares of the company’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 sale, the chief executive officer now owns 44,710 shares of the company’s stock, valued at $5,620,047. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kevin Hillesland sold 2,200 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $133.83, for a total transaction of $294,426.00. Following the completion of the sale, the senior vice president now directly owns 7,711 shares of the company’s stock, valued at approximately $1,031,963.13. The disclosure for this sale can be found here. Insiders sold a total of 39,694 shares of company stock worth $5,040,656 over the last 90 days. Insiders own 1.99% of the company’s stock.

Analyst Upgrades and Downgrades

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