GATX Corp. Receives Neutral Rating from Zacks (GMT)
GATX Corp. (NYSE:GMT)‘s stock had its “neutral” rating reaffirmed by Zacks in a report released on Tuesday, AmericanBankingNews.com reports. They currently have a $54.00 price objective on the stock. Zacks‘ price objective points to a potential upside of 4.53% from the company’s current price.
Zacks‘ analyst wrote, “We are maintaining our Neutral recommendation on GATX Corp. The company’s third quarter earnings were ahead of the Zacks Consensus Estimate while revenues were in line with the same. We believe strong lease renewal activities and continued growth in lease rates would drive growth for the company. Additionally, fleet modernization higher asset utilization in tank cars and deploying more new rail cars will fuel growth over the long term. Further, GATX is committed to its shareholders through strong dividend payments and share repurchases. However, inconsistent demand for marine transport services, weather conditions, weaker market conditions in certain segments, regulatory issues and stiff competition continue to keep us on the sidelines.”
GATX Corp. (NYSE:GMT) traded up 0.70% during mid-day trading on Tuesday, hitting $52.02. The stock had a trading volume of 90,293 shares. GATX Corp. has a 52-week low of $43.88 and a 52-week high of $54.19. The stock’s 50-day moving average is $50.68 and its 200-day moving average is $48.41. The company has a market cap of $2.405 billion and a price-to-earnings ratio of 16.83.
GATX Corp. (NYSE:GMT) last released its earnings data on Thursday, October 24th. The company reported $1.09 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.00 by $0.09. The company had revenue of $353.20 million for the quarter, compared to the consensus estimate of $351.62 million. During the same quarter last year, the company posted $0.70 earnings per share. GATX Corp.’s revenue was up 6.4% compared to the same quarter last year. Analysts expect that GATX Corp. will post $3.29 EPS for the current fiscal year.
GATX Corporation (NYSE:GMT) leases, operates, manages and remarkets long-lived, widely-used assets, primarily in the rail and marine markets.
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.