GATX (GATX) to Release Earnings on Tuesday

GATX (NYSE:GATX) is scheduled to be releasing its earnings data before the market opens on Tuesday, April 23rd. Analysts expect GATX to post 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.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

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

GATX Stock Performance

Shares of GATX stock opened at $129.98 on Friday. GATX has a one year low of $97.21 and a one year high of $135.65. The company’s 50-day moving average is $129.76 and its 200 day moving average is $119.56. The company has a market capitalization of $4.62 billion, a price-to-earnings ratio of 18.18 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, March 31st. Investors of record on Friday, March 1st were given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 1.78%. This is an increase from GATX’s previous quarterly dividend of $0.55. The ex-dividend date was Thursday, February 29th. GATX’s dividend payout ratio is 32.45%.

Insider Activity

In other news, SVP Kevin Hillesland sold 2,200 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $133.83, for a total transaction of $294,426.00. Following the sale, the senior vice president now owns 7,711 shares of the company’s stock, valued at approximately $1,031,963.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP Kevin Hillesland sold 2,200 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $133.83, for a total value of $294,426.00. Following the transaction, the senior vice president now owns 7,711 shares in the company, valued at approximately $1,031,963.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Thomas A. Ellman sold 18,000 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $127.54, for a total transaction of $2,295,720.00. Following the completion of the transaction, the chief financial officer now owns 35,429 shares in the company, valued at approximately $4,518,614.66. The disclosure for this sale can be found here. Insiders have sold a total of 39,694 shares of company stock valued at $5,040,656 in the last 90 days. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On GATX

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its stake in GATX by 1.3% during the 1st quarter. BlackRock Inc. now owns 4,420,156 shares of the transportation company’s stock worth $486,306,000 after acquiring an additional 58,640 shares during the period. Vanguard Group Inc. raised its stake in GATX by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 3,917,862 shares of the transportation company’s stock worth $471,005,000 after acquiring an additional 14,420 shares during the period. State Street Corp raised its stake in GATX by 0.3% during the 2nd quarter. State Street Corp now owns 1,198,966 shares of the transportation company’s stock worth $154,355,000 after acquiring an additional 3,702 shares during the period. Bank of America Corp DE raised its stake in GATX by 4.8% during the 1st quarter. Bank of America Corp DE now owns 1,021,205 shares of the transportation company’s stock worth $112,353,000 after acquiring an additional 47,037 shares during the period. Finally, Geode Capital Management LLC raised its stake in GATX by 4.2% during the 1st quarter. Geode Capital Management LLC now owns 673,555 shares of the transportation company’s stock worth $74,105,000 after acquiring an additional 26,880 shares during the period. Institutional investors own 93.14% of the company’s stock.

Wall Street Analysts Forecast Growth

GATX has been the topic of several recent analyst reports. Susquehanna increased their price objective on shares of GATX from $115.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Wells Fargo & Company increased their price objective on shares of GATX from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Finally, TD Cowen increased their price objective on shares of GATX from $122.00 to $136.00 and gave the company a “market perform” rating in a research report on Wednesday, January 24th.

About GATX

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.