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

GATX (NYSE:GATX) announced its 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. The business had revenue of $405.40 million during the quarter, compared to analysts’ expectations of $391.65 million. GATX had a net margin of 15.86% and a return on equity of 10.61%. The firm’s revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.44 earnings per share. GATX updated its FY24 guidance to $7.50-7.70 EPS and its FY 2024 guidance to 7.500-7.700 EPS.

GATX Price Performance

NYSE:GATX traded down $2.77 during trading hours on Wednesday, hitting $137.10. 39,627 shares of the stock traded hands, compared to its average volume of 150,405. The company has a market cap of $4.88 billion, a price-to-earnings ratio of 19.54 and a beta of 0.95. GATX has a 1 year low of $97.21 and a 1 year high of $151.33. The stock has a 50 day moving average price of $135.88 and a 200 day moving average price of $134.63. The company has a quick ratio of 4.97, a current ratio of 4.97 and a debt-to-equity ratio of 3.52.

GATX Dividend Announcement

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

Analyst Ratings Changes

Separately, Susquehanna upped their price objective on GATX from $122.00 to $140.00 and gave the stock a “neutral” rating in a research note on Monday.

Insider Activity

In other GATX news, major shareholder Farm Mutual Automobile I. State purchased 8,984 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were acquired at an average cost of $133.65 per share, with a total value of $1,200,711.60. Following the completion of the acquisition, the insider now directly owns 3,312,294 shares in the company, valued at $442,688,093.10. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

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.