Trinity Industries (NYSE:TRN) Posts Earnings Results, Beats Estimates By $0.32 EPS

Trinity Industries (NYSE:TRN) posted its quarterly earnings results on Thursday. The transportation company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.32, Briefing.com reports. Trinity Industries had a return on equity of 10.93% and a net margin of 3.98%. The business had revenue of $841.40 million for the quarter, compared to the consensus estimate of $738.00 million. During the same quarter in the prior year, the company earned $0.23 EPS. The business’s revenue was up 16.5% compared to the same quarter last year. Trinity Industries updated its FY24 guidance to $1.55-1.75 EPS and its FY 2024 guidance to 1.550-1.750 EPS.

Trinity Industries Stock Down 6.9 %

Shares of NYSE TRN traded down $2.53 during mid-day trading on Friday, reaching $33.97. 1,089,484 shares of the company were exchanged, compared to its average volume of 562,721. The firm has a 50-day moving average of $30.56 and a 200 day moving average of $28.20. The company has a quick ratio of 0.91, a current ratio of 1.88 and a debt-to-equity ratio of 4.55. Trinity Industries has a 1 year low of $20.04 and a 1 year high of $37.04. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of 22.80 and a beta of 1.41.

Trinity Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 15th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date was Monday, July 15th. Trinity Industries’s dividend payout ratio (DPR) is currently 75.17%.

Analyst Ratings Changes

TRN has been the topic of a number of recent research reports. TD Cowen increased their price target on Trinity Industries from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Susquehanna increased their price target on Trinity Industries from $30.00 to $34.00 and gave the stock a “positive” rating in a research report on Thursday, May 2nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $31.00.

Trinity Industries Company Profile

Trinity Industries, Inc provides rail transportation products and services under the TrinityRail name in North America. It operates in two segments, Railcar Leasing and Management Services Group, and Rail Products Group. The Railcar Leasing and Management Services Group segment leases freight and tank railcars; originates and manages railcar leases for third-party investors; and provides fleet maintenance and management services.