GATX (NYSE:GATX) Announces Earnings Results, Beats Estimates By $0.54 EPS

GATX (NYSE:GATX) announced its quarterly earnings results on Tuesday. The transportation company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.54, Yahoo Finance reports. The firm had revenue of $405.40 million for the quarter, compared to analyst estimates of $391.65 million. GATX had a net margin of 15.86% and a return on equity of 10.61%. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.44 EPS. 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

Shares of NYSE:GATX traded up $0.59 on Thursday, hitting $139.05. The stock had a trading volume of 148,153 shares, compared to its average volume of 151,186. GATX has a twelve month low of $100.67 and a twelve month high of $151.33. 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 firm’s 50 day moving average price is $135.92 and its 200-day moving average price is $134.65. The company has a market capitalization of $4.95 billion, a price-to-earnings ratio of 19.73 and a beta of 0.95.

GATX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $0.58 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.32 annualized dividend and a dividend yield of 1.67%. GATX’s dividend payout ratio is presently 33.05%.

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 bought at an average price of $133.65 per share, for a total transaction of $1,200,711.60. Following the purchase, the insider now owns 3,312,294 shares of the company’s stock, valued at approximately $442,688,093.10. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.