GATX (NYSE:GATX) Releases Earnings Results, Beats Estimates By $0.54 EPS

23 Oct 2024, 17:02 by Tristan Rich · The Markets Daily

GATX (NYSE:GATX – Get Free Report) announced its earnings results on Tuesday. The transportation company reported $2.50 EPS for the quarter, topping the consensus estimate of $1.96 by $0.54, Yahoo Finance reports. GATX had a return on equity of 10.61% and a net margin of 15.86%. The business had revenue of $405.40 million for the quarter, compared to the consensus estimate of $391.65 million. During the same period in the previous year, the business earned $1.44 EPS. GATX’s revenue was up 12.6% compared to the same quarter last year. GATX updated its FY24 guidance to $7.50-7.70 EPS and its FY 2024 guidance to 7.500-7.700 EPS.

GATX Trading Down 1.9 %

GATX traded down $2.63 during midday trading on Wednesday, reaching $137.24. 44,122 shares of the company were exchanged, compared to its average volume of 150,427. The stock’s 50-day simple moving average is $135.88 and its 200 day simple moving average is $134.63. GATX has a one year low of $97.21 and a one year high of $151.33. The stock has a market capitalization of $4.89 billion, a P/E ratio of 19.54 and a beta of 0.95. The company has a debt-to-equity ratio of 3.52, a quick ratio of 4.97 and a current ratio of 4.97.

GATX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $0.58 dividend. 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 1.69%. GATX’s dividend payout ratio is presently 33.05%.

Analyst Upgrades and Downgrades

Separately, Susquehanna raised their target price on GATX from $122.00 to $140.00 and gave the company a “neutral” rating in a research note on Monday.

Get Our Latest Research Report on GATX

Insider Activity 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 that occurred on Wednesday, October 9th. The shares were acquired at an average price of $133.65 per share, with a total value of $1,200,711.60. Following the purchase, the insider now owns 3,312,294 shares of the company’s stock, valued at $442,688,093.10. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.80% of the company’s stock.

GATX Company Profile

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