We recently issued an updated report on GATX Corporation (GATX - Free Report) .
Like many other transportation companies, GATX has been hit hard by coronavirus-induced uncertainties.
Disappointing performance in the Rail International segment in the first two quarters of 2020 raises concerns. Notably, segmental profits fell 6.1% year over year in the second quarter due to coronavirus-led shutdowns at railcar manufacturing facilities.
Nevertheless, GATX is gaining from a strong liquidity position. The company had no short-term debt obligations at the end of the second quarter of 2020. Its cash and cash equivalents at the end of the period stood at $492.9 million. Additionally, the company’s current ratio was at 4.28 at the end of the second quarter, compared with the industry’s average of 1.27.
Notably, its shareholder-friendly measures are also encouraging. GATX has an impressive record with respect to dividend payment. In January 2020, the company raised its quarterly dividend by 4.3% to 48 cents per share. On July 31, GATX announced a quarterly dividend payment of 48 cents per share payable on Sep 30 to shareholders as of record date Sep 15, 2020.
Zacks Rank & Stocks to Consider
GATX currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Zacks Transportation sector are Knight-Swift Transportation Holdings Inc. (KNX - Free Report) , Canadian Pacific Railway Limited (CP - Free Report) and Werner Enterprises, Inc. (WERN - Free Report) . Knight-Swift sports a Zacks Rank #1(Strong Buy), while Canadian Pacific and Werner carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term expected earnings per share (three to five years) growth rate for Knight-Swift, Canadian Pacific and Werner is pegged at 15%, 8% and 8.5%, respectively.
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We recently issued an updated report on GATX Corporation (GATX - Free Report) .
Like many other transportation companies, GATX has been hit hard by coronavirus-induced uncertainties.
Disappointing performance in the Rail International segment in the first two quarters of 2020 raises concerns. Notably, segmental profits fell 6.1% year over year in the second quarter due to coronavirus-led shutdowns at railcar manufacturing facilities.
Nevertheless, GATX is gaining from a strong liquidity position. The company had no short-term debt obligations at the end of the second quarter of 2020. Its cash and cash equivalents at the end of the period stood at $492.9 million. Additionally, the company’s current ratio was at 4.28 at the end of the second quarter, compared with the industry’s average of 1.27.
Notably, its shareholder-friendly measures are also encouraging. GATX has an impressive record with respect to dividend payment. In January 2020, the company raised its quarterly dividend by 4.3% to 48 cents per share. On July 31, GATX announced a quarterly dividend payment of 48 cents per share payable on Sep 30 to shareholders as of record date Sep 15, 2020.
Zacks Rank & Stocks to Consider
GATX currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Zacks Transportation sector are Knight-Swift Transportation Holdings Inc. (KNX - Free Report) , Canadian Pacific Railway Limited (CP - Free Report) and Werner Enterprises, Inc. (WERN - Free Report) . Knight-Swift sports a Zacks Rank #1(Strong Buy), while Canadian Pacific and Werner carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term expected earnings per share (three to five years) growth rate for Knight-Swift, Canadian Pacific and Werner is pegged at 15%, 8% and 8.5%, respectively.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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