GATX (NYSE:GATX) Posts Earnings Results, Beats Expectations By $0.54 EPS

GATX (NYSE:GATX) announced its quarterly earnings results on Tuesday. The transportation company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.54, Yahoo Finance reports. GATX had a return on equity of 10.61% and a net margin of 15.86%. The company had revenue of $405.40 million during the quarter, compared to analyst estimates of $391.65 million. During the same period in the prior year, the company earned $1.44 earnings per share. The firm’s revenue was up 12.6% on a year-over-year basis. GATX updated its FY24 guidance to $7.50-7.70 EPS and its FY 2024 guidance to 7.500-7.700 EPS.

GATX Trading Down 2.0 %

GATX stock traded down $2.77 during midday trading on Wednesday, reaching $137.10. 39,627 shares of the company traded hands, compared to its average volume of 150,405. The firm has a market capitalization of $4.88 billion, a price-to-earnings ratio of 19.54 and a beta of 0.95. The company has a debt-to-equity ratio of 3.52, a quick ratio of 4.97 and a current ratio of 4.97. The business has a 50 day moving average of $135.88 and a 200-day moving average of $134.63. GATX has a 52-week low of $97.21 and a 52-week high of $151.33.

GATX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a dividend of $0.58 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.32 annualized dividend and a yield of 1.69%. GATX’s payout ratio is currently 33.05%.

Analyst Ratings Changes

Separately, Susquehanna increased their target price on GATX from $122.00 to $140.00 and gave the company a “neutral” rating in a research report on Monday.

Insider Activity

In other news, major shareholder Farm Mutual Automobile I. State bought 8,984 shares of GATX stock in a transaction dated Wednesday, October 9th. The shares were acquired at an average price of $133.65 per share, with a total value of $1,200,711.60. Following the completion of the purchase, the insider now owns 3,312,294 shares in the company, valued at $442,688,093.10. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate 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.