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GATX upgraded to Overweight as overcapacity looks set to end at Stephens » 06:28
06/16/20
06/16
06:28
06/16/20
06:28
GATX

GATX

$61.46 /

+0.41 (+0.67%)

As previously reported,…

As previously reported, Stephens analyst Justin Long upgraded GATX to Overweight from Equal Weight with a price target of $78, up from $62. Four consecutive years of a weak railcar leasing market, combined with the current recession, lead him to believe that the stage is set for an oversupply of railcars to peak over the next year, Long tells investors. He also sees an acceleration in opportunities for GATX to buy distressed assets, which Long contends that the company "has been patiently awaiting." While acknowledging that near-term EPS pressure is "likely to be more severe than anticipated, Long sees the risk/reward as "compelling" at current levels.

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GATX GATX
$61.46 /

+0.41 (+0.67%)

GATX GATX
$61.46 /

+0.41 (+0.67%)

06/16/20 Stephens
GATX upgraded to Overweight from Equal Weight at Stephens
GATX GATX
$61.46 /

+0.41 (+0.67%)

GATX GATX
$61.46 /

+0.41 (+0.67%)

Upgrade
GATX upgraded to Overweight from Equal Weight at Stephens » 06:10
06/16/20
06/16
06:10
06/16/20
06:10
GATX

GATX

$61.46 /

+0.41 (+0.67%)

Stephens upgraded GATX to…

Stephens upgraded GATX to Overweight from Equal Weight.

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GATX GATX
$61.46 /

+0.41 (+0.67%)

GATX GATX
$61.46 /

+0.41 (+0.67%)

GATX GATX
$61.46 /

+0.41 (+0.67%)

Over a month ago
Conference/Events
GATX participates in a conference call with Stephens » 14:25
06/10/20
06/10
14:25
06/10/20
14:25
GATX

GATX

$66.45 /

-1.34 (-1.98%)

Conference call with CFO…

Conference call with CFO Ellman will be held on June 10 at 3 pm hosted by Stephens.

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GATX GATX
$66.45 /

-1.34 (-1.98%)

GATX GATX
$66.45 /

-1.34 (-1.98%)

GATX GATX
$66.45 /

-1.34 (-1.98%)

Conference/Events
GATX participates in a conference call with Stephens » 04:55
06/10/20
06/10
04:55
06/10/20
04:55
GATX

GATX

$67.79 /

-1.17 (-1.70%)

Conference call with CFO…

Conference call with CFO Ellman will be held on June 10 at 3 pm hosted by Stephens.

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GATX GATX
$67.79 /

-1.17 (-1.70%)

GATX GATX
$67.79 /

-1.17 (-1.70%)

GATX GATX
$67.79 /

-1.17 (-1.70%)

Conference/Events
GATX participates in a conference call with Stephens » 16:44
06/08/20
06/08
16:44
06/08/20
16:44
GATX

GATX

$68.96 /

+0.15 (+0.22%)

Conference call with CFO…

Conference call with CFO Ellman will be held on June 10 at 3 pm hosted by Stephens.

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GATX GATX
$68.96 /

+0.15 (+0.22%)

GATX GATX
$68.96 /

+0.15 (+0.22%)

GATX GATX
$68.96 /

+0.15 (+0.22%)

Conference/Events
GATX participates in a conference call hosted by Sidoti » 07:23
05/27/20
05/27
07:23
05/27/20
07:23
GATX

GATX

$62.11 /

+0.055 (+0.09%)

Conference call with…

Conference call with management will be held on May 27 hosted by Sidoti.

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GATX GATX
$62.11 /

+0.055 (+0.09%)

GATX GATX
$62.11 /

+0.055 (+0.09%)

GATX GATX
$62.11 /

+0.055 (+0.09%)

Hot Stocks
GATX completes sale of American Steamship Company business » 09:34
05/14/20
05/14
09:34
05/14/20
09:34
GATX

GATX

$54.61 /

-2.43 (-4.26%)

GATX announced that it…

GATX announced that it completed the sale of its American Steamship Company business to Rand Logistics for approximately $260M in cash proceeds. GATX expects to use the net sales proceeds to repay outstanding indebtedness under its $250M revolving credit facility.

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GATX GATX
$54.61 /

-2.43 (-4.26%)

GATX GATX
$54.61 /

-2.43 (-4.26%)

GATX GATX
$54.61 /

-2.43 (-4.26%)

Hot Stocks
GATX completes sale of American Steamship Company business » 09:30
05/14/20
05/14
09:30
05/14/20
09:30
GATX

GATX

$54.61 /

-2.43 (-4.26%)

GATX Corporation…

GATX Corporation announced that it completed the sale of its American Steamship Company business to Rand Logistics, LLC for approximately $260 million in cash proceeds, subject to customary post-closing adjustments. This is the final step in the sale of ASC to Rand Logistics, LLC, as previously announced on Feb. 10, 2020. GATX expects to use the net sales proceeds to repay outstanding indebtedness under its $250 million revolving credit facility.

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GATX GATX
$54.61 /

-2.43 (-4.26%)

GATX GATX
$54.61 /

-2.43 (-4.26%)

GATX GATX
$54.61 /

-2.43 (-4.26%)

Earnings
GATX suspends 2020 guidance  08:36
05/04/20
05/04
08:36
05/04/20
08:36
GATX

GATX

$57.42 /

-2.09 (-3.51%)

 
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Earnings
GATX reports Q1 EPS $1.31, consensus $1.22 » 08:36
05/04/20
05/04
08:36
05/04/20
08:36
GATX

GATX

$57.42 /

-2.09 (-3.51%)

Reports Q1 revenue…

Reports Q1 revenue $308.9M, consensus $310.3M. "GATX posted solid first-quarter results despite continuing weakness in the North American railcar leasing market and a deteriorating global economy," said Brian A. Kenney, president and chief executive officer of GATX. "During this unprecedented time, our focus has been on ensuring the health and safety of our global workforce and serving our customers with minimal disruptions. Rail North America's performance in the quarter was generally consistent with our expectations coming into 2020. We achieved fleet utilization of 99% at the end of the quarter and a renewal success rate of 74.6%. The renewal lease rate change of GATX's Lease Price Index was negative 11.6% in the quarter, with an average renewal term of 31 months. Rail International performed as expected. Fleet utilization at GATX Rail Europe remains high at 98.5% at quarter end, and GATX Rail India grew its fleet to over 3,900 railcars while maintaining utilization at 100%. Within Portfolio Management, our Rolls-Royce and Partners Finance affiliates produced favorable results, despite an unprecedented drop in commercial air travel in the latter part of the quarter. Finally, American Steamship Company's sailing season began at the end of March with seven of the planned 11 vessels currently deployed in anticipation of lower tonnage due to COVID-19 impacts. The sale of American Steamship Company is expected to close in the second quarter. While the impact of the COVID-19 pandemic on our first-quarter results was limited, we expect future operating results to be negatively impacted, the magnitude of which is highly uncertain and depends on many factors that continue to evolve rapidly, including the scope and duration of the pandemic's disruptions and the shape and timing of the eventual recovery. Accordingly, we are suspending our previously announced full-year 2020 guidance. I am grateful for the dedication and resilience of our employees in the face of the current obstacles. The challenges posed by the COVID-19 pandemic are extraordinary and unparalleled. However, GATX has managed through a number of crises and economic cycles during its 120-plus-year history. We entered the current crisis with a strong balance sheet, excellent liquidity, and committed long-term leases that provide a source of stable cash flows-all of which we expect positions GATX to navigate through this difficult period and capitalize on attractive investment opportunities that may arise."

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