GATX (NYSE:GATX) Posts Earnings Results, Beats Estimates By $0.16 EPS

GATX (NYSE:GATXGet Rating) announced its quarterly earnings results on Tuesday. The transportation company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.16, Briefing.com reports. The company had revenue of $322.70 million during the quarter, compared to analyst estimates of $327.63 million. GATX had a return on equity of 10.98% and a net margin of 13.25%. The firm’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the company earned $1.69 earnings per share. GATX updated its FY23 guidance to $6.50-6.90 EPS and its FY 2023 guidance to $6.50-$6.90 EPS.

GATX Stock Performance

Shares of NYSE:GATX remained flat at $109.89 during trading on Wednesday. 12,918 shares of the stock traded hands, compared to its average volume of 106,157. The company’s fifty day moving average is $109.88 and its 200-day moving average is $101.72. GATX has a 12 month low of $84.96 and a 12 month high of $127.58. The company has a market capitalization of $3.87 billion, a price-to-earnings ratio of 23.53 and a beta of 1.07. The company has a debt-to-equity ratio of 3.28, a quick ratio of 4.14 and a current ratio of 4.14.

GATX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, December 31st. Investors of record on Thursday, December 15th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date was Wednesday, December 14th. GATX’s dividend payout ratio (DPR) is currently 44.54%.

Wall Street Analysts Forecast Growth

Several research firms have commented on GATX. Wells Fargo & Company raised their price objective on GATX from $120.00 to $125.00 in a report on Wednesday. StockNews.com assumed coverage on GATX in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Susquehanna lifted their price objective on GATX from $110.00 to $115.00 in a research note on Wednesday. Finally, Susquehanna Bancshares cut GATX to a “neutral” rating in a report on Monday, November 7th.

Insider Transactions at GATX

In other news, SVP Aken Jennifer Van sold 760 shares of the business’s stock in a transaction dated Monday, November 28th. The shares were sold at an average price of $111.38, for a total value of $84,648.80. Following the completion of the sale, the senior vice president now owns 4,830 shares of the company’s stock, valued at $537,965.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other GATX news, SVP Aken Jennifer Van sold 760 shares of the stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $111.38, for a total transaction of $84,648.80. Following the transaction, the senior vice president now directly owns 4,830 shares in the company, valued at approximately $537,965.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Deborah A. Golden sold 2,500 shares of the firm’s stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $105.47, for a total value of $263,675.00. Following the sale, the executive vice president now directly owns 8,448 shares of the company’s stock, valued at $891,010.56. The disclosure for this sale can be found here. Insiders have sold a total of 4,160 shares of company stock valued at $440,313 over the last 90 days. 3.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GATX

A number of hedge funds and other institutional investors have recently made changes to their positions in GATX. Raymond James Financial Services Advisors Inc. lifted its stake in shares of GATX by 2.6% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 4,490 shares of the transportation company’s stock worth $554,000 after purchasing an additional 114 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of GATX by 3.6% in the third quarter. Commonwealth Equity Services LLC now owns 4,370 shares of the transportation company’s stock worth $372,000 after acquiring an additional 152 shares during the last quarter. Federated Hermes Inc. lifted its position in GATX by 8.2% during the first quarter. Federated Hermes Inc. now owns 4,609 shares of the transportation company’s stock worth $568,000 after buying an additional 350 shares in the last quarter. Captrust Financial Advisors lifted its position in GATX by 15.7% during the second quarter. Captrust Financial Advisors now owns 2,663 shares of the transportation company’s stock worth $251,000 after buying an additional 362 shares in the last quarter. Finally, Guggenheim Capital LLC raised its position in GATX by 1.0% in the first quarter. Guggenheim Capital LLC now owns 52,408 shares of the transportation company’s stock valued at $6,464,000 after purchasing an additional 515 shares during the period. Institutional investors own 99.10% of the company’s stock.

GATX Company Profile

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GATX Corp. engages in leasing and owning railcar and fleets in North America, Europe and Asia. It operates through the following segments: Rail North America, Rail International and Portfolio Management. The Rail North America segment provides railcars pursuant to full-service leases under which it maintains the railcars and provides other ancillary services.

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Earnings History for GATX (NYSE:GATX)

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