GATX Corporation (GATX) Expected to Announce Quarterly Sales of $349.55 Million
Wall Street analysts expect that GATX Corporation (NYSE:GATX) will announce $349.55 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for GATX Corporation’s earnings. The highest sales estimate is $353.30 million and the lowest is $345.80 million. GATX Corporation reported sales of $362.90 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 3.7%. The firm is scheduled to report its next quarterly earnings report on Thursday, October 19th.
On average, analysts expect that GATX Corporation will report full-year sales of $349.55 million for the current fiscal year, with estimates ranging from $1.35 billion to $1.36 billion. For the next financial year, analysts forecast that the business will post sales of $1.33 billion per share, with estimates ranging from $1.31 billion to $1.35 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow GATX Corporation.
GATX Corporation (NYSE:GATX) last released its earnings results on Thursday, July 20th. The transportation company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.11 by $0.21. GATX Corporation had a return on equity of 17.83% and a net margin of 17.09%. The business had revenue of $348.40 million during the quarter, compared to analysts’ expectations of $352.64 million. During the same quarter last year, the firm posted $1.49 earnings per share. The firm’s revenue was down 2.9% on a year-over-year basis.
A number of brokerages recently issued reports on GATX. Axiom Securities restated a “sell” rating on shares of GATX Corporation in a report on Wednesday, July 26th. Cowen and Company restated a “market perform” rating and set a $63.00 price target (up previously from $62.00) on shares of GATX Corporation in a report on Sunday, April 23rd. Zacks Investment Research upgraded GATX Corporation from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a report on Friday, April 21st. Citigroup Inc reduced their price target on GATX Corporation from $73.00 to $71.00 and set a “buy” rating on the stock in a report on Friday, July 21st. Finally, ValuEngine upgraded GATX Corporation from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 3rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $56.14.
Shares of GATX Corporation (NYSE:GATX) opened at 61.84 on Friday. The firm has a market cap of $2.39 billion, a PE ratio of 10.42 and a beta of 1.19. The company’s 50-day moving average price is $62.72 and its 200 day moving average price is $60.64. GATX Corporation has a 1-year low of $40.66 and a 1-year high of $66.30.
The company also recently announced a quarterly dividend, which will be paid on Saturday, September 30th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.72%. GATX Corporation’s dividend payout ratio (DPR) is 28.38%.
In other GATX Corporation news, SVP Paul F. Titterton sold 2,843 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $61.68, for a total transaction of $175,356.24. Following the transaction, the senior vice president now owns 12,261 shares in the company, valued at approximately $756,258.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Deborah A. Golden sold 2,429 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $65.42, for a total value of $158,905.18. Following the transaction, the executive vice president now owns 39,783 shares in the company, valued at approximately $2,602,603.86. The disclosure for this sale can be found here. Insiders have sold a total of 9,517 shares of company stock worth $601,618 in the last quarter. Company insiders own 3.50% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bridgewater Associates LP purchased a new position in GATX Corporation during the second quarter worth $246,000. Riverhead Capital Management LLC increased its position in GATX Corporation by 55.4% in the second quarter. Riverhead Capital Management LLC now owns 2,331 shares of the transportation company’s stock worth $150,000 after buying an additional 831 shares during the period. Capital Fund Management S.A. purchased a new position in GATX Corporation during the second quarter worth $993,000. Sheaff Brock Investment Advisors LLC increased its position in GATX Corporation by 5.0% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 13,771 shares of the transportation company’s stock worth $885,000 after buying an additional 652 shares during the period. Finally, LSV Asset Management increased its position in GATX Corporation by 48.5% in the second quarter. LSV Asset Management now owns 398,136 shares of the transportation company’s stock worth $25,588,000 after buying an additional 130,034 shares during the period.
TRADEMARK VIOLATION NOTICE: This piece of content was posted by Watch List News and is the property of of Watch List News. If you are viewing this piece of content on another website, it was illegally copied and republished in violation of international copyright legislation. The correct version of this piece of content can be accessed at https://www.watchlistnews.com/gatx-corporation-gatx-expected-to-announce-quarterly-sales-of-349-55-million/1471743.html.
GATX Corporation Company Profile
GATX Corporation is a global railcar lessor, owning fleets in North America, Europe, and Asia. In addition, the Company operates fleet of the United States-flagged vessels on the Great Lakes and jointly with Rolls-Royce plc, it owns aircraft spare engine lease portfolios in the world. It operates through four business segments: Rail North America, Rail International, American Steamship Company (ASC), and Portfolio Management.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for GATX Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GATX Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.