GATX (NYSE:GATX) Issues FY24 Earnings Guidance

GATX (NYSE:GATX) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $7.30-7.70 for the period, compared to the consensus earnings per share estimate of $7.46. GATX also updated its FY 2024 guidance to 7.300-7.700 EPS.

GATX Price Performance

GATX traded down $0.05 on Friday, reaching $127.94. 1,212 shares of the company’s stock were exchanged, compared to its average volume of 139,391. The stock has a market cap of $4.55 billion, a PE ratio of 18.23 and a beta of 0.98. The company has a debt-to-equity ratio of 3.28, a current ratio of 3.39 and a quick ratio of 2.79. GATX has a twelve month low of $97.21 and a twelve month high of $135.65. The stock’s fifty day moving average price is $129.77 and its 200-day moving average price is $120.07.

GATX (NYSE:GATX) last issued its earnings results on Tuesday, April 23rd. The transportation company reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.29. The business had revenue of $379.90 million during the quarter, compared to the consensus estimate of $375.80 million. GATX had a return on equity of 11.29% and a net margin of 17.64%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period last year, the company earned $2.20 EPS. Sell-side analysts expect that GATX will post 7.53 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GATX. Wells Fargo & Company increased their price target on GATX from $130.00 to $140.00 and gave the company an overweight rating in a research report on Wednesday, January 24th. Susquehanna upped their price objective on GATX from $120.00 to $122.00 and gave the stock a neutral rating in a research report on Wednesday. Finally, TD Cowen raised their target price on GATX from $122.00 to $136.00 and gave the stock a market perform rating in a research report on Wednesday, January 24th.

Insider Activity at GATX

In related news, SVP Kevin Hillesland sold 2,200 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $133.83, for a total value of $294,426.00. Following the completion of the transaction, the senior vice president now directly owns 7,711 shares of the company’s stock, valued at approximately $1,031,963.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Thomas A. Ellman sold 18,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $127.54, for a total value of $2,295,720.00. Following the sale, the chief financial officer now owns 35,429 shares of the company’s stock, valued at approximately $4,518,614.66. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Kevin Hillesland sold 2,200 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $133.83, for a total value of $294,426.00. Following the completion of the transaction, the senior vice president now directly owns 7,711 shares of the company’s stock, valued at $1,031,963.13. The disclosure for this sale can be found here. Insiders sold 39,694 shares of company stock worth $5,040,656 over the last 90 days. 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.