GATX (NYSE:GATX) Releases FY 2024 Earnings Guidance

GATX (NYSE:GATX) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 7.500-7.700 for the period, compared to the consensus earnings per share estimate of 7.420. The company issued revenue guidance of -. GATX also updated its FY24 guidance to $7.50-7.70 EPS.

GATX Price Performance

GATX opened at $139.05 on Friday. The company has a debt-to-equity ratio of 3.52, a current ratio of 4.97 and a quick ratio of 4.97. The stock has a market capitalization of $4.95 billion, a P/E ratio of 19.81 and a beta of 0.95. The company’s 50 day simple moving average is $135.94 and its 200-day simple moving average is $134.68. GATX has a one year low of $100.67 and a one year high of $151.33.

GATX (NYSE:GATX) last announced its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.54. The firm had revenue of $405.40 million for the quarter, compared to analyst estimates of $391.65 million. GATX had a return on equity of 10.61% and a net margin of 15.86%. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period last year, the company earned $1.44 EPS. Sell-side analysts anticipate that GATX will post 7.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insider Buying and Selling at GATX

In other GATX news, major shareholder Farm Mutual Automobile I. State bought 8,984 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was bought at an average price of $133.65 per share, for a total transaction of $1,200,711.60. Following the transaction, the insider now owns 3,312,294 shares of the company’s stock, valued at approximately $442,688,093.10. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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.