"Worst Market In 30 Years" - 400,000 Commodity Railcars Sit Idle Amid Industrial Recession [zero hedge]
GATX Corporation (GATX)
Last gatx corporation earnings: 1/23 08:30 am
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US:NYSE Investor Relations:
ir.gatx.com/phoenix.zhtml?c=70051&p=irol-irhome
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Source: zero hedge
"Worst Market In 30 Years" - 400,000 Commodity Railcars Sit Idle Amid Industrial Recession Wells Fargo, Citigroup, PNC Financial Service Group, and CIT Group accumulated hundreds of thousands of commodity hauling railcars in North America over the last decade. These banks believed railcars carrying coal, grain, and other commodities were going to be highly profitable but have recently turned out to be a major headache as many cars are now in storage because of new regulations and demand woes brought on by fluctuating commodity markets. David Nahass, president of Railroad Financial Corp., which provides advisory services to railroad firms, told The Wall Street Journal that "the industry is suffering, there are no two ways about it. Lease rates are down, and there's not a source of hope about when it will start to improve."The Journal, citing the Association of American Railroads (AAR), said about 400,000 railcars currently sit in storage with no use at all, and many are ban
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GATX
News
- With A 11% Return On Equity, Is GATX Corporation (NYSE:GATX) A Quality Stock? [Yahoo! Finance]Yahoo! Finance
- GATX Co. (NYSE: GATX) was downgraded by analysts at Sidoti from a "buy" rating to a "neutral" rating. They now have a $158.00 price target on the stock.MarketBeat
- Europe's Railcar Leasing Market to Grow by USD 2.52 Billion (2024-2028), Boosted by EU Funding, AI Redefining the Market Landscape - Technavio [Yahoo! Finance]Yahoo! Finance
- GATX Co. (NYSE: GATX) is now covered by analysts at The Goldman Sachs Group, Inc.. They set a "buy" rating and a $185.00 price target on the stock.MarketBeat
- GATX Corporation Receives Responsible Care® Excellence in Partnership Award [Yahoo! Finance]Yahoo! Finance
GATX
Earnings
- 4/23/24 - Beat
GATX
Sec Filings
- 11/4/24 - Form 4
- 11/4/24 - Form 4
- 11/4/24 - Form 4
- GATX's page on the SEC website