Zacks: Brokerages Expect GATX Corporation (GATX) Will Post Earnings of $0.99 Per Share
Equities analysts expect GATX Corporation (NYSE:GATX) to report earnings per share of $0.99 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for GATX Corporation’s earnings, with estimates ranging from $0.97 to $1.03. GATX Corporation posted earnings per share of $2.25 during the same quarter last year, which would indicate a negative year-over-year growth rate of 56%. The company is scheduled to report its next quarterly earnings results on Thursday, October 19th.
On average, analysts expect that GATX Corporation will report full-year earnings of $4.62 per share for the current fiscal year, with EPS estimates ranging from $4.60 to $4.65. For the next fiscal year, analysts anticipate that the firm will post earnings of $4.19 per share, with EPS estimates ranging from $4.10 to $4.30. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that follow GATX Corporation.
GATX Corporation (NYSE:GATX) last released its quarterly earnings data on Thursday, July 20th. The transportation company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates 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%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.49 earnings per share.
GATX has been the subject of several research reports. Buckingham Research initiated coverage on GATX Corporation in a research note on Wednesday, June 21st. They set a “neutral” rating and a $64.00 price objective for the company. Zacks Investment Research lowered GATX Corporation from a “buy” rating to a “hold” rating in a research note on Monday. Cowen and Company reiterated a “hold” rating and set a $63.00 price objective on shares of GATX Corporation in a research note on Monday, August 28th. Stifel Nicolaus upgraded GATX Corporation from a “sell” rating to a “hold” rating and boosted their price objective for the stock from $50.00 to $54.00 in a research note on Monday, July 17th. Finally, ValuEngine upgraded GATX Corporation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 3rd. Three research analysts have rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. GATX Corporation has an average rating of “Hold” and a consensus price target of $55.71.
GATX Corporation (GATX) traded down 0.29% during trading on Friday, hitting $58.83. The stock had a trading volume of 651,366 shares. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 9.92 and a beta of 1.20. GATX Corporation has a 52-week low of $40.76 and a 52-week high of $66.30. The firm’s 50-day moving average price is $61.11 and its 200-day moving average price is $60.94.
The company also recently declared a quarterly dividend, which will be paid on Saturday, September 30th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Thursday, September 14th. GATX Corporation’s dividend payout ratio (DPR) is 28.38%.
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In other news, VP Jeffery R. Young sold 2,910 shares of the company’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $58.70, for a total transaction of $170,817.00. Following the sale, the vice president now owns 6,881 shares of the company’s stock, valued at $403,914.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.50% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Shine Investment Advisory Services Inc. acquired a new position in GATX Corporation in the second quarter valued at $118,000. Tyers Asset Management LLC boosted its stake in shares of GATX Corporation by 10.1% during the first quarter. Tyers Asset Management LLC now owns 1,914 shares of the transportation company’s stock worth $117,000 after buying an additional 176 shares during the period. IFP Advisors Inc boosted its stake in shares of GATX Corporation by 2.9% during the second quarter. IFP Advisors Inc now owns 2,259 shares of the transportation company’s stock worth $145,000 after buying an additional 64 shares during the period. Riverhead Capital Management LLC boosted its stake in shares of GATX Corporation by 55.4% during the second quarter. Riverhead Capital Management LLC now owns 2,331 shares of the transportation company’s stock worth $150,000 after buying an additional 831 shares during the period. Finally, Flinton Capital Management LLC boosted its stake in shares of GATX Corporation by 10.1% during the first quarter. Flinton Capital Management LLC now owns 2,436 shares of the transportation company’s stock worth $149,000 after buying an additional 224 shares during the period.
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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