GATX (GATX) Scheduled to Post Quarterly Earnings on Tuesday

GATX (NYSE:GATX) is set to issue its quarterly earnings data before the market opens on Tuesday, April 23rd. Analysts expect the company to announce earnings of $1.72 per share for the quarter. GATX has set its FY24 guidance at $7.30-7.70 EPS and its FY 2024 guidance at 7.300-7.700 EPS.Parties that are interested in participating in the company’s conference call can do so using this link.

GATX (NYSE:GATX) last issued its quarterly earnings data on Tuesday, January 23rd. The transportation company reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.16. The firm had revenue of $368.70 million during the quarter, compared to the consensus estimate of $365.32 million. GATX had a return on equity of 11.81% and a net margin of 18.37%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.54 EPS. On average, analysts expect GATX to post $8 EPS for the current fiscal year and $8 EPS for the next fiscal year.

GATX Stock Down 0.1 %

GATX stock opened at $129.50 on Tuesday. The stock has a market capitalization of $4.60 billion, a P/E ratio of 18.11 and a beta of 0.98. The company has a debt-to-equity ratio of 3.26, a quick ratio of 2.79 and a current ratio of 2.79. GATX has a one year low of $97.21 and a one year high of $135.65. The company has a 50 day moving average price of $129.53 and a two-hundred day moving average price of $119.06.

GATX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, March 31st. Shareholders of record on Friday, March 1st were paid a $0.58 dividend. This is a boost from GATX’s previous quarterly dividend of $0.55. This represents a $2.32 annualized dividend and a yield of 1.79%. The ex-dividend date was Thursday, February 29th. GATX’s payout ratio is presently 32.45%.

Insider Buying and Selling

In related news, SVP Kevin Hillesland sold 2,200 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $133.83, for a total transaction of $294,426.00. Following the completion of the sale, the senior vice president now directly owns 7,711 shares of the company’s stock, valued at approximately $1,031,963.13. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other GATX news, CFO Thomas A. Ellman sold 18,000 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $127.54, for a total value of $2,295,720.00. Following the transaction, the chief financial officer now owns 35,429 shares in the company, valued at approximately $4,518,614.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 transaction of $294,426.00. Following the completion of the transaction, the senior vice president now owns 7,711 shares in the company, valued at approximately $1,031,963.13. The disclosure for this sale can be found here. In the last three months, insiders sold 39,694 shares of company stock valued at $5,040,656. Company insiders own 1.99% of the company’s stock.

Hedge Funds Weigh In On GATX

A number of institutional investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC acquired a new stake in shares of GATX in the 2nd quarter valued at about $57,000. Public Employees Retirement System of Ohio acquired a new stake in shares of GATX in the 1st quarter valued at about $89,000. Advisory Services Network LLC raised its stake in shares of GATX by 125.7% in the 1st quarter. Advisory Services Network LLC now owns 844 shares of the transportation company’s stock valued at $93,000 after purchasing an additional 470 shares in the last quarter. First Manhattan CO. LLC. acquired a new stake in shares of GATX in the 1st quarter valued at about $132,000. Finally, Pathstone Family Office LLC acquired a new stake in shares of GATX in the 4th quarter valued at about $202,000. Institutional investors and hedge funds own 93.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on GATX shares. TD Cowen lifted their target price on shares of GATX from $122.00 to $136.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 24th. Susquehanna boosted their price objective on shares of GATX from $115.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Finally, Wells Fargo & Company boosted their price objective on shares of GATX from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th.

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.