GATX Corporation (NYSE:GATX) declared a quarterly dividend on Monday, July 31st, Wall Street Journal reports. Stockholders of record on Friday, September 15th will be paid a dividend of 0.42 per share by the transportation company on Saturday, September 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Thursday, September 14th.
GATX Corporation has a dividend payout ratio of 36.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect GATX Corporation to earn $4.19 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 40.1%.
GATX Corporation (NYSE:GATX) opened at 59.01 on Wednesday. GATX Corporation has a one year low of $40.66 and a one year high of $66.30. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 9.95 and a beta of 1.20. The stock has a 50 day moving average price of $61.39 and a 200-day moving average price of $60.97.
GATX Corporation (NYSE:GATX) last announced its quarterly earnings results on Thursday, July 20th. The transportation company reported $1.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.21. The company had revenue of $348.40 million during the quarter, compared to the consensus estimate of $352.64 million. GATX Corporation had a return on equity of 17.83% and a net margin of 17.09%. GATX Corporation’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.49 EPS. On average, analysts predict that GATX Corporation will post $4.60 earnings per share for the current fiscal year.
In other GATX Corporation news, EVP Deborah A. Golden sold 1,368 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $64.46, for a total transaction of $88,181.28. Following the completion of the sale, the executive vice president now directly owns 37,083 shares of the company’s stock, valued at approximately $2,390,370.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.50% of the stock is owned by corporate insiders.
GATX has been the subject of several research reports. Zacks Investment Research raised GATX Corporation from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a report on Monday, July 24th. Citigroup Inc. reduced their target price on GATX Corporation from $73.00 to $71.00 and set a “buy” rating for the company in a report on Friday, July 21st. Cowen and Company reissued a “hold” rating and issued a $63.00 target price on shares of GATX Corporation in a report on Monday, August 28th. Stifel Nicolaus raised GATX Corporation from a “sell” rating to a “hold” rating and boosted their target price for the company from $50.00 to $54.00 in a report on Monday, July 17th. Finally, Buckingham Research initiated coverage on GATX Corporation in a report on Wednesday, June 21st. They issued a “neutral” rating and a $64.00 target price for the company. Three analysts have rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $56.00.
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About GATX Corporation
GATX Corporation is a global railcar lessor, owning fleets in North America, Europe, and Asia. In addition, the Company operates fleet of the United States-flagged vessels on the Great Lakes and jointly with Rolls-Royce plc, it owns aircraft spare engine lease portfolios in the world. It operates through four business segments: Rail North America, Rail International, American Steamship Company (ASC), and Portfolio Management.
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