GATX (NYSE:GATX) Releases FY 2024 Earnings Guidance

GATX (NYSE:GATX - Get Free Report) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 7.300-7.700 for the period, compared to the consensus EPS estimate of 7.560. The company issued revenue guidance of -. GATX also updated its FY24 guidance to $7.30-7.70 EPS.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Wells Fargo & Company raised their price objective on GATX from $130.00 to $140.00 and gave the company an overweight rating in a report on Wednesday, January 24th. TD Cowen increased their price target on GATX from $122.00 to $136.00 and gave the stock a market perform rating in a report on Wednesday, January 24th. Finally, Susquehanna lifted their price objective on shares of GATX from $115.00 to $120.00 and gave the company a neutral rating in a research note on Wednesday, January 24th.

GATX Stock Down 3.0 %

Shares of GATX stock traded down $3.84 during trading hours on Tuesday, reaching $126.12. The company's stock had a trading volume of 229,644 shares, compared to its average volume of 140,645. The company has a debt-to-equity ratio of 3.26, a quick ratio of 2.79 and a current ratio of 2.79. The stock's fifty day simple moving average is $129.77 and its two-hundred day simple moving average is $119.83. The company has a market capitalization of $4.48 billion, a P/E ratio of 17.58 and a beta of 0.98. GATX has a one year low of $97.21 and a one year high of $135.65.

GATX (NYSE:GATX - Get Free Report) last released its quarterly earnings results on Tuesday, January 23rd. The transportation company reported $1.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.58 by $0.16. The business had revenue of $368.70 million during the quarter, compared to the consensus estimate of $365.32 million. GATX had a return on equity of 11.81% and a net margin of 18.37%. The company's quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.54 EPS. On average, research analysts forecast that GATX will post 7.53 earnings per share for the current year.

GATX Increases Dividend

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

Insiders Place Their Bets

In related news, SVP Kevin Hillesland sold 2,200 shares of the stock in a transaction that occurred on 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 $1,031,963.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Thomas A. Ellman sold 18,000 shares of the business's stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $127.54, for a total transaction of $2,295,720.00. Following the completion of the transaction, the chief financial officer now owns 35,429 shares of the company's stock, valued at $4,518,614.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin Hillesland sold 2,200 shares of the business's stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $133.83, for a total value of $294,426.00. Following the transaction, 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 have sold a total of 39,694 shares of company stock valued at $5,040,656 in the last 90 days. 1.99% 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.