GATX (NYSE:GATX) Updates FY 2024 Earnings Guidance

GATX (NYSE:GATX - Get Free Report) 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 Stock Up 6.7 %

GATX stock traded up $8.77 during mid-day trading on Tuesday, reaching $139.80. 353,942 shares of the company traded hands, compared to its average volume of 150,948. GATX has a fifty-two week low of $97.21 and a fifty-two week high of $151.33. 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's 50 day moving average price is $135.82 and its 200 day moving average price is $134.58. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of 19.67 and a beta of 0.95.

GATX (NYSE:GATX - Get Free Report) last released its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.43 earnings per share for the quarter, missing analysts' consensus estimates of $1.82 by ($0.39). GATX had a net margin of 15.86% and a return on equity of 10.61%. The firm had revenue of $386.70 million for the quarter, compared to the consensus estimate of $385.45 million. During the same period in the previous year, the business earned $1.73 earnings per share. The firm's revenue for the quarter was up 12.7% on a year-over-year basis. As a group, equities research analysts predict that GATX will post 7.5 EPS for the current fiscal year.

GATX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a dividend of $0.58 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.32 dividend on an annualized basis and a yield of 1.66%. GATX's dividend payout ratio (DPR) is currently 33.05%.

Analysts Set New Price Targets

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

Insider Buying and Selling at GATX

In other GATX news, major shareholder Farm Mutual Automobile I. State acquired 8,984 shares of the company'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. 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 accessible through this hyperlink. 1.80% of the stock is owned by corporate insiders.

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.