Trinity Industries (NYSE:TRN) Issues Earnings Results, Beats Expectations By $0.05 EPS

Trinity Industries (NYSE:TRN) issued its quarterly earnings results on Thursday. The transportation company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05, Briefing.com reports. The firm had revenue of $798.80 million during the quarter, compared to analyst estimates of $696.00 million. Trinity Industries had a return on equity of 13.66% and a net margin of 4.98%. Trinity Industries’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period last year, the company earned $0.26 EPS. Trinity Industries updated its FY 2024 guidance to 1.700-1.800 EPS and its FY24 guidance to $1.70-$1.80 EPS.

Trinity Industries Stock Performance

TRN traded down $1.70 during trading on Friday, reaching $32.58. 670,949 shares of the company’s stock were exchanged, compared to its average volume of 546,897. The company has a debt-to-equity ratio of 4.39, a current ratio of 1.91 and a quick ratio of 0.98. Trinity Industries has a 1 year low of $21.17 and a 1 year high of $37.04. The company’s fifty day simple moving average is $33.77 and its 200-day simple moving average is $31.56. The stock has a market capitalization of $2.69 billion, a P/E ratio of 15.87 and a beta of 1.39.

Trinity Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were paid a dividend of $0.28 per share. The ex-dividend date was Tuesday, October 15th. This represents a $1.12 annualized dividend and a yield of 3.44%. Trinity Industries’s payout ratio is presently 54.63%.

Analysts Set New Price Targets

Several research analysts have commented on TRN shares. StockNews.com upgraded Trinity Industries from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. Susquehanna downgraded shares of Trinity Industries from a “positive” rating to a “neutral” rating and raised their target price for the company from $34.00 to $35.00 in a research note on Monday, October 21st.

About Trinity Industries

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.