GATX (NYSE:GATX) Announces Quarterly Earnings Results

GATX (NYSE:GATX - Get Free Report) issued its quarterly earnings data on Tuesday. The transportation company reported $2.01 earnings per share for the quarter, topping 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 business had revenue of $379.90 million during the quarter, compared to analysts' expectations of $375.80 million. During the same quarter in the previous year, the company earned $2.20 EPS. The business's revenue was up 12.1% on a year-over-year basis. GATX updated its FY24 guidance to $7.30-7.70 EPS and its FY 2024 guidance to 7.300-7.700 EPS.

GATX Price Performance

Shares of NYSE:GATX traded down $0.32 during midday trading on Wednesday, hitting $125.80. The stock had a trading volume of 145,070 shares, compared to its average volume of 140,701. The company's 50-day moving average price is $129.79 and its 200-day moving average price is $119.97. The company has a market capitalization of $4.47 billion, a P/E ratio of 17.53 and a beta of 0.98. GATX has a fifty-two week low of $97.21 and a fifty-two week high of $135.65. 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 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, March 31st. Stockholders of record on Friday, March 1st were given a $0.58 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This is a boost from GATX's previous quarterly dividend of $0.55. This represents a $2.32 annualized dividend and a dividend yield of 1.84%. GATX's payout ratio is presently 32.45%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Susquehanna lifted their price objective on shares of GATX from $120.00 to $122.00 and gave the stock a "neutral" rating in a research note on Wednesday. Wells Fargo & Company boosted 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. Finally, TD Cowen boosted 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.

Insider Buying and Selling

In related news, SVP Kevin Hillesland sold 2,200 shares of the company's stock in a transaction that occurred on 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 directly owns 7,711 shares in the company, valued at approximately $1,031,963.13. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Kevin Hillesland sold 2,200 shares of the company's stock in a transaction that occurred on 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 directly owns 7,711 shares in the company, valued at approximately $1,031,963.13. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Robert C. Lyons sold 19,300 shares of the company's stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $125.70, for a total transaction of $2,426,010.00. Following the transaction, the chief executive officer now owns 44,710 shares of the company's stock, valued at $5,620,047. The disclosure for this sale can be found here. Insiders sold a total of 39,694 shares of company stock worth $5,040,656 in the last three months. 1.99% of the stock is 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.