GATX (NYSE:GATX) Releases FY24 Earnings Guidance

GATX (NYSE:GATX) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $7.30-7.70 for the period, compared to the consensus estimate of $7.66. GATX also updated its FY 2024 guidance to 7.300-7.700 EPS.

Analysts Set New Price Targets

Separately, Susquehanna increased their target price on GATX from $120.00 to $122.00 and gave the stock a neutral rating in a research report on Wednesday, April 24th.

GATX Stock Performance

NYSE GATX traded up $1.55 during trading hours on Friday, reaching $137.51. The company’s stock had a trading volume of 3,189 shares, compared to its average volume of 153,649. The company has a current ratio of 4.97, a quick ratio of 3.39 and a debt-to-equity ratio of 3.52. The business has a 50-day simple moving average of $135.72 and a 200 day simple moving average of $130.41. GATX has a 52 week low of $97.21 and a 52 week high of $151.33. The stock has a market cap of $4.90 billion, a PE ratio of 19.37 and a beta of 0.96.

GATX (NYSE:GATX) last released its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.39). The business had revenue of $386.70 million for the quarter, compared to the consensus estimate of $385.45 million. GATX had a net margin of 15.86% and a return on equity of 10.61%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period last year, the firm posted $1.73 EPS. Equities research analysts predict that GATX will post 7.5 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Robert Zmudka sold 4,800 shares of GATX stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $139.66, for a total transaction of $670,368.00. Following the sale, the vice president now owns 7,493 shares of the company’s stock, valued at $1,046,472.38. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other GATX news, EVP Paul F. Titterton sold 9,000 shares of GATX stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $139.37, for a total transaction of $1,254,330.00. Following the transaction, the executive vice president now directly owns 11,373 shares in the company, valued at approximately $1,585,055.01. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Robert Zmudka sold 4,800 shares of GATX stock in a transaction on Monday, May 20th. The shares were sold at an average price of $139.66, for a total transaction of $670,368.00. Following the completion of the sale, the vice president now directly owns 7,493 shares of the company’s stock, valued at approximately $1,046,472.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,800 shares of company stock valued at $2,056,678. Insiders own 1.80% of the company’s stock.

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.