GATX Corporation GATX is like a gift that keeps on giving, charming shareholders with its delightful combination of dividend payments and share repurchases.
Let’s delve into the reasons that make this stock shine brighter than a polished diamond.
The Allure of GATX as an Investment
A Shining Star: One glance at the company’s price trajectory reveals a star-studded performance over the past year. GATX shares have ascended by an impressive 15.5% in the last three months.
Image Source: Zacks Investment Research
Firm Zacks Rank: GATX proudly boasts a Zacks Rank #2 (Buy). Our analysis suggests that stocks with a Zacks Rank #1 (Strong Buy) or 2 present the most promising investment prospects. Hence, GATX emerges as a compelling choice right now.
Upward Estimate Revisions: Changes in earnings estimates often serve as a guiding light for a stock’s price performance. In the last 90 days, the Zacks Consensus Estimate for GATX’s 2024 earnings has soared by 6.1%.
A History of Surprises: GATX boasts an impressive track record of surpassing earning estimates. Out of the last four quarters, the company outperformed the Zacks Consensus Estimate in three, with an average beat of 16.47%.
Earnings Prospects: Growth in earnings and stock value often herald a company’s bright future. For 2024, GATX is expected to witness a 3.68% year-over-year earnings growth.
Driven by Growth: GATX has been in the dividend game since 1919, showcasing stellar performances in both dividends and buybacks. In January 2024, the company charmingly boosted its quarterly dividend by 5.5% to 58 cents per share. The commitment to reward shareholders is truly heartwarming. Moreover, 2024 marks GATX’s 106th consecutive year of offering dividends.
Moreover, GATX’s Portfolio Management arm is blossoming, enjoying increased earnings from its Rolls-Royce, Partners Finance affiliates, and GATX Engine Leasing ventures.
Exploring Other Lucrative Stocks
In the realm of Zacks’ Transportation sector, other shining stars like SkyWest, Inc. (SKYW) and Copa Holdings, S.A. (CPA) beckon investors. With a Zacks Rank of 2 each, these stocks present a fine opportunity. For those eager to explore further, the complete list of Zacks #1 Rank stocks is just a click away.
SkyWest’s modernization efforts are laudable. The Zacks Consensus Estimate for SKYW’s 2024 earnings has surged by an impressive 11.1% over the past 90 days. SKYW shares have soared by a remarkable 222.2% in the last year.
SKYW anticipates a jaw-dropping earnings growth rate of over 100% for 2024. Furthermore, SKYW has a four-quarter earnings surprise average of 128.02%.
CPA also boasts a phenomenal earning track record, outshining the Zacks Consensus Estimate in three of the last four quarters. On average, CPA has surpassed estimates by a whopping 18.02%.
In the past 90 days, the Zacks Consensus Estimate for CPA’s 2024 earnings has soared by an impressive 7.1%. Meanwhile, CPA shares have ascended by 3.4% in the last year.
The Crème de la Crème: Zacks Top 10 Stocks for 2024
Don’t miss out on our handpicked selection of top stocks for 2024. Curated by Zacks Director of Research, Sheraz Mian, these stocks have consistently outperformed expectations. Since its inception in 2012 through November 2023, the Zacks Top 10 Stocks witnessed phenomenal growth of +974.1%, nearly tripling the S&P 500’s +340.1% surge. Dive into this exclusive list of high-potential stocks before it’s too late.
The perspectives mentioned herein solely represent the author’s views and do not necessarily align with those of Nasdaq, Inc.
