GATX Corporation (GATX) Expected to Post Quarterly Sales of $349.55 Million
Analysts expect GATX Corporation (NYSE:GATX) to post $349.55 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided 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 company is expected to announce its next quarterly earnings results on Thursday, October 19th.
According to Zacks, analysts expect that GATX Corporation will report full-year sales of $349.55 million for the current year, with estimates ranging from $1.35 billion to $1.36 billion. For the next financial year, analysts anticipate that the business will post sales of $1.33 billion per share, with estimates ranging from $1.31 billion to $1.35 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for GATX Corporation.
GATX Corporation (NYSE:GATX) last issued its quarterly earnings data on Thursday, July 20th. The transportation company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $352.64 million. During the same period in the prior year, the business posted $1.49 earnings per share. The company’s quarterly revenue was down 2.9% compared to the same quarter last year.
GATX has been the topic of a number of recent analyst reports. BidaskClub upgraded GATX Corporation from a “sell” rating to a “hold” rating in a report on Thursday, September 21st. Axiom Securities reiterated a “sell” rating on shares of GATX Corporation in a report on Wednesday, July 26th. Zacks Investment Research cut GATX Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, September 19th. ValuEngine upgraded GATX Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Finally, Citigroup Inc. decreased their price objective on GATX Corporation from $73.00 to $71.00 and set a “buy” rating on the stock in a report on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $57.50.
In related news, VP Jeffery R. Young sold 2,910 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $58.70, for a total value of $170,817.00. Following the transaction, the vice president now directly owns 6,881 shares in the company, valued at $403,914.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in GATX. Shine Investment Advisory Services Inc. purchased a new stake in GATX Corporation in the second quarter valued at approximately $118,000. IFP Advisors Inc raised its position in GATX Corporation by 2.9% in the second quarter. IFP Advisors Inc now owns 2,259 shares of the transportation company’s stock valued at $145,000 after purchasing an additional 64 shares during the period. Riverhead Capital Management LLC raised 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 valued at $150,000 after purchasing an additional 831 shares during the period. Bank of Montreal Can raised its position in GATX Corporation by 19.4% in the first quarter. Bank of Montreal Can now owns 2,525 shares of the transportation company’s stock valued at $154,000 after purchasing an additional 410 shares during the period. Finally, Advisor Group Inc. raised its position in GATX Corporation by 15.5% in the second quarter. Advisor Group Inc. now owns 2,519 shares of the transportation company’s stock valued at $161,000 after purchasing an additional 338 shares during the period.
Shares of GATX Corporation (NYSE:GATX) opened at 62.49 on Friday. The stock has a market capitalization of $2.42 billion, a P/E ratio of 10.53 and a beta of 1.20. The stock has a 50 day moving average price of $60.75 and a 200 day moving average price of $61.22. GATX Corporation has a one year low of $42.21 and a one year high of $66.30.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, September 30th. Investors of record on Friday, September 15th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date was Thursday, September 14th. GATX Corporation’s dividend payout ratio is presently 28.38%.
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.
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