GATX Corporation (NYSE:GATX) Expected to Announce Quarterly Sales of $349.55 Million
Wall Street brokerages forecast that GATX Corporation (NYSE:GATX) will announce $349.55 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for GATX Corporation’s earnings. The highest sales estimate is $353.30 million and the lowest is $345.80 million. GATX Corporation reported sales of $362.90 million in the same quarter last year, which would suggest a negative year over year growth rate of 3.7%. The firm is scheduled to report its next earnings report on Thursday, October 19th.
On average, analysts expect that GATX Corporation will report full year sales of $349.55 million for the current financial year, with estimates ranging from $1.35 billion to $1.36 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.33 billion per share, with estimates ranging from $1.31 billion to $1.35 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover GATX Corporation.
GATX Corporation (NYSE:GATX) last posted its quarterly earnings data on Thursday, July 20th. The transportation company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.11 by $0.21. The firm had revenue of $348.40 million during the quarter, compared to analyst estimates of $352.64 million. GATX Corporation had a return on equity of 17.83% and a net margin of 17.09%. GATX Corporation’s revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.49 EPS.
GATX has been the topic of several research analyst reports. Buckingham Research initiated coverage on shares of GATX Corporation in a research report on Wednesday, June 21st. They issued a “neutral” rating and a $64.00 target price on the stock. Zacks Investment Research raised shares of GATX Corporation from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research report on Monday, July 24th. Stifel Nicolaus raised shares of GATX Corporation from a “sell” rating to a “hold” rating and raised their target price for the stock from $50.00 to $54.00 in a research report on Monday, July 17th. ValuEngine raised shares of GATX Corporation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 3rd. Finally, Citigroup Inc decreased their target price on shares of GATX Corporation from $73.00 to $71.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $56.14.
In other GATX Corporation news, EVP Thomas A. Ellman sold 2,239 shares of GATX Corporation stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $61.52, for a total transaction of $137,743.28. Following the transaction, the executive vice president now directly owns 30,740 shares of the company’s stock, valued at $1,891,124.80. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP James M. Conniff sold 638 shares of GATX Corporation stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $64.94, for a total transaction of $41,431.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,517 shares of company stock worth $601,618. 3.50% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in GATX. First Citizens Bank & Trust Co. acquired a new position in shares of GATX Corporation during the first quarter worth $301,000. Macquarie Group Ltd. acquired a new position in shares of GATX Corporation during the fourth quarter worth $1,256,000. Norges Bank acquired a new position in shares of GATX Corporation during the fourth quarter worth $8,143,000. Schwab Charles Investment Management Inc. boosted its position in shares of GATX Corporation by 8.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 298,994 shares of the transportation company’s stock worth $18,227,000 after buying an additional 24,109 shares during the period. Finally, Bank of Montreal Can boosted its position in shares of GATX Corporation by 19.4% in the first quarter. Bank of Montreal Can now owns 2,525 shares of the transportation company’s stock worth $154,000 after buying an additional 410 shares during the period.
Shares of GATX Corporation (GATX) opened at 61.84 on Friday. The stock has a 50 day moving average price of $62.72 and a 200 day moving average price of $60.64. GATX Corporation has a 1-year low of $40.66 and a 1-year high of $66.30. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of 10.42 and a beta of 1.19.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, September 30th. Shareholders of record on Friday, September 15th will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.68 dividend on an annualized basis and a yield of 2.72%. GATX Corporation’s dividend payout ratio (DPR) is 28.38%.
About GATX Corporation
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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