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

GATX (NYSE:GATX – Get Rating) announced its earnings results on Tuesday. The transportation company reported $1.54 earnings per share 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 quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the company posted $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 traded down $0.88 on Wednesday, hitting $109.01. The company had a trading volume of 17,883 shares, compared to its average volume of 106,468. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of 23.53 and a beta of 1.07. The stock has a 50 day moving average price of $109.88 and a 200 day moving average price of $101.72. GATX has a 1-year low of $84.96 and a 1-year high of $127.58. The company has a current ratio of 4.14, a quick ratio of 4.14 and a debt-to-equity ratio of 3.28.

GATX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, December 31st. Stockholders of record on Thursday, December 15th were paid a dividend of $0.52 per share. The ex-dividend date was Wednesday, December 14th. This represents a $2.08 annualized dividend and a dividend yield of 1.91%. GATX’s dividend payout ratio is currently 44.54%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on GATX shares. Susquehanna upped their price objective on GATX from $110.00 to $115.00 in a report on Wednesday. Susquehanna Bancshares cut GATX to a “neutral” rating in a research note on Monday, November 7th. Wells Fargo & Company increased their price target on shares of GATX from $120.00 to $125.00 in a research report on Wednesday. Finally, StockNews.com began coverage on shares of GATX in a report on Wednesday, October 12th. They set a “hold” rating for the company.

Insider Activity at GATX

In other news, VP Jennifer Mcmanus sold 900 shares of the business’s stock in a transaction dated Thursday, October 27th. The shares were sold at an average price of $102.21, for a total value of $91,989.00. Following the completion of the sale, the vice president now owns 1,057 shares of the company’s stock, valued at $108,035.97. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other GATX news, VP Jennifer Mcmanus sold 900 shares of GATX stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $102.21, for a total value of $91,989.00. Following the completion of the transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $108,035.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Aken Jennifer Van sold 760 shares of the stock in a transaction on Monday, November 28th. The stock was sold at an average price of $111.38, for a total value of $84,648.80. Following the sale, the senior vice president now directly owns 4,830 shares in the company, valued at $537,965.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,160 shares of company stock worth $440,313. Insiders own 3.00% of the company’s stock.

Institutional Trading of GATX

A number of hedge funds have recently added to or reduced their stakes in the stock. Teachers Retirement System of The State of Kentucky acquired a new position in GATX in the 3rd quarter valued at approximately $469,000. Glenmede Trust Co. NA bought a new stake in shares of GATX in the 3rd quarter valued at about $255,000. Captrust Financial Advisors increased its stake in shares of GATX by 60.0% in the third quarter. Captrust Financial Advisors now owns 3,356 shares of the transportation company’s stock valued at $286,000 after buying an additional 1,259 shares during the period. BNP Paribas Arbitrage SNC raised its position in shares of GATX by 13.6% during the third quarter. BNP Paribas Arbitrage SNC now owns 19,550 shares of the transportation company’s stock worth $1,665,000 after acquiring an additional 2,335 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of GATX by 3.3% in the third quarter. State Street Corp now owns 1,155,957 shares of the transportation company’s stock worth $98,430,000 after acquiring an additional 37,314 shares during the period. Institutional investors and hedge funds own 99.10% of the company’s stock.

About GATX

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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.