GATX (NYSE:GATX) Updates FY24 Earnings Guidance

GATX (NYSE:GATX) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $7.50-7.70 for the period, compared to the consensus estimate of $7.47. GATX also updated its FY 2024 guidance to 7.500-7.700 EPS.

GATX Trading Up 0.4 %

NYSE:GATX opened at $139.05 on Friday. The stock has a market cap of $4.95 billion, a price-to-earnings ratio of 19.81 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 has a 1 year low of $100.67 and a 1 year high of $151.33. The business has a fifty day moving average of $135.94 and a 200-day moving average of $134.68.

GATX (NYSE:GATX) last announced its earnings results on Tuesday, October 22nd. The transportation company reported $2.50 EPS for the quarter, topping the consensus estimate of $1.96 by $0.54. The firm had revenue of $405.40 million for the quarter, compared to analysts’ expectations of $391.65 million. GATX had a return on equity of 10.61% and a net margin of 15.86%. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.44 earnings per share. Equities analysts predict that GATX will post 7.5 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Susquehanna boosted their price target on shares of GATX from $122.00 to $140.00 and gave the stock a “neutral” rating in a research report on Monday.

Insiders Place Their Bets

In related news, major shareholder Farm Mutual Automobile I. State acquired 8,984 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was bought at an average price of $133.65 per share, for a total transaction of $1,200,711.60. Following the transaction, the insider now owns 3,312,294 shares of the company’s stock, valued at approximately $442,688,093.10. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is currently owned by company insiders.

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.