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

Trinity Industries (NYSE:TRN) issued its quarterly earnings results on Thursday. The transportation company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.32, Briefing.com reports. Trinity Industries had a net margin of 3.98% and a return on equity of 10.93%. The company had revenue of $841.40 million during the quarter, compared to the consensus estimate of $738.00 million. During the same quarter in the prior year, the firm posted $0.23 EPS. The firm’s quarterly revenue was up 16.5% on a year-over-year basis. 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 Trading Down 6.9 %

NYSE TRN traded down $2.53 on Friday, hitting $33.97. The company’s stock had a trading volume of 1,089,484 shares, compared to its average volume of 562,721. 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 company’s 50-day moving average is $30.56 and its 200 day moving average is $28.20. The firm has a market cap of $2.78 billion, a PE ratio of 22.80 and a beta of 1.41.

Trinity Industries Dividend Announcement

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

Wall Street Analyst Weigh In

TRN has been the subject of a number of recent analyst reports. TD Cowen upped their price target on shares of Trinity Industries from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Susquehanna upped their price objective on shares of Trinity Industries from $30.00 to $34.00 and gave the stock a “positive” rating in a research report on Thursday, May 2nd. Two 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 stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.00.

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.