GATX (NYSE:GATX) Posts Earnings Results, Beats Expectations By $0.54 EPS

GATX (NYSE:GATX) released its quarterly earnings data on Tuesday. The transportation company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $405.40 million for the quarter, compared to analyst estimates of $391.65 million. During the same period in the previous year, the company posted $1.44 EPS. The firm’s revenue for the quarter 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 Price Performance

GATX stock traded up $0.92 during midday trading on Friday, hitting $139.87. 4,826 shares of the company’s stock were exchanged, compared to its average volume of 150,478. GATX has a 52-week low of $101.31 and a 52-week high of $151.33. The stock has a 50-day moving average price of $135.94 and a two-hundred day moving average price of $134.68. The company has a debt-to-equity ratio of 3.52, a quick ratio of 4.97 and a current ratio of 4.97. The company has a market cap of $4.98 billion, a P/E ratio of 19.81 and a beta of 0.95.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other GATX news, major shareholder Farm Mutual Automobile I. State bought 8,984 shares of GATX stock in a transaction that occurred on Wednesday, October 9th. The stock was acquired at an average cost of $133.65 per share, for a total transaction of $1,200,711.60. Following the completion of the transaction, the insider now directly owns 3,312,294 shares in the company, valued at $442,688,093.10. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 1.80% of the stock is owned by company insiders.

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.