GATX Co. (GATX) Releases FY17 Earnings Guidance
GATX Co. (NYSE:GATX) updated its FY17 earnings guidance on Thursday. The company provided earnings per share guidance of $4.40-4.60 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.53.
A number of brokerages have recently issued reports on GATX. Cowen and Company began coverage on GATX in a research note on Friday, March 3rd. They set a market perform rating and a $62.00 price objective on the stock. Axiom Securities reaffirmed a sell rating on shares of GATX in a research note on Tuesday, December 27th. Zacks Investment Research raised GATX from a sell rating to a hold rating in a research note on Monday, February 27th. Finally, Stifel Nicolaus cut GATX from a hold rating to a sell rating and set a $49.00 price objective on the stock. in a research note on Thursday, January 12th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $47.00.
Shares of GATX Co. (NYSE:GATX) opened at 60.17 on Thursday. GATX Co. has a one year low of $40.66 and a one year high of $64.46. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of 9.57 and a beta of 1.18. The firm has a 50-day moving average of $59.52 and a 200 day moving average of $55.83.
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GATX (NYSE:GATX) last issued its quarterly earnings results on Thursday, January 19th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.09. GATX had a net margin of 18.13% and a return on equity of 19.97%. The business had revenue of $362.10 million for the quarter, compared to analyst estimates of $355.71 million. The company’s revenue was down 4.4% compared to the same quarter last year. On average, equities research analysts predict that GATX Co. will post $4.50 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Friday, March 10th were paid a $0.42 dividend. The ex-dividend date was Wednesday, March 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.79%. This is a positive change from GATX’s previous quarterly dividend of $0.40. GATX’s dividend payout ratio is presently 25.48%.
In related news, SVP Michael T. Brooks sold 6,800 shares of the firm’s stock in a transaction on Tuesday, January 31st. The shares were sold at an average price of $57.41, for a total transaction of $390,388.00. Following the sale, the senior vice president now owns 15,591 shares in the company, valued at $895,079.31. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Michael T. Brooks sold 3,653 shares of the firm’s stock in a transaction on Tuesday, January 24th. The shares were sold at an average price of $59.45, for a total transaction of $217,170.85. Following the sale, the senior vice president now owns 27,300 shares in the company, valued at approximately $1,622,985. The disclosure for this sale can be found here. Insiders sold 16,993 shares of company stock worth $995,795 in the last quarter. Company insiders own 3.43% of the company’s stock.
GATX Corporation is a global railcar lessor, owning fleets in North America, Europe, and Asia. In addition, the Company operates fleet of the United States-flagged vessels on the Great Lakes and jointly with Rolls-Royce plc, it owns aircraft spare engine lease portfolios in the world. It operates through four business segments: Rail North America, Rail International, American Steamship Company (ASC), and Portfolio Management.
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