GATX (NYSE:GATX) Issues Quarterly Earnings Results

GATX (NYSE:GATX - Get Free Report) posted its quarterly earnings results on Tuesday. The transportation company reported $2.50 EPS for the quarter, topping analysts' consensus estimates of $1.96 by $0.54, Yahoo Finance reports. GATX had a net margin of 15.86% and a return on equity of 10.61%. The firm had revenue of $405.40 million for the quarter, compared to analysts' expectations of $391.65 million. During the same period in the prior year, the business posted $1.44 earnings per share. The business's revenue for the quarter 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 Stock Down 1.0 %

NYSE:GATX traded down $1.34 during mid-day trading on Wednesday, reaching $138.53. The company's stock had a trading volume of 202,734 shares, compared to its average volume of 151,201. The company has a quick ratio of 4.97, a current ratio of 4.97 and a debt-to-equity ratio of 3.52. The firm has a market capitalization of $4.93 billion, a PE ratio of 19.73 and a beta of 0.95. The stock has a fifty day moving average of $135.92 and a 200-day moving average of $134.65. GATX has a 1 year low of $97.21 and a 1 year high of $151.33.

GATX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders 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 dividend yield of 1.67%. GATX's dividend payout ratio is currently 33.05%.

Analysts Set New Price Targets

Separately, Susquehanna upped their target price on shares of GATX from $122.00 to $140.00 and gave the stock a "neutral" rating in a research note on Monday.

Insider Activity

In related news, major shareholder Farm Mutual Automobile I. State bought 8,984 shares of the 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 completion of the acquisition, the insider now directly owns 3,312,294 shares in the company, valued at approximately $442,688,093.10. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company 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.