Trinity Industries (NYSE:TRN) Posts Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Trinity Industries (NYSE:TRN) announced its quarterly earnings results on Wednesday. The transportation company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.26 by $0.07, Briefing.com reports. Trinity Industries had a return on equity of 9.29% and a net margin of 3.55%. The firm had revenue of $809.60 million for the quarter, compared to analyst estimates of $750.97 million. During the same quarter last year, the firm posted $0.07 earnings per share. The business’s revenue for the quarter was up 26.2% on a year-over-year basis. Trinity Industries updated its FY 2024 guidance to 1.350-1.550 EPS.

Trinity Industries Trading Up 1.7 %

NYSE TRN traded up $0.50 on Thursday, reaching $30.05. 1,091,123 shares of the company were exchanged, compared to its average volume of 517,731. The business’s fifty day moving average price is $26.46 and its 200 day moving average price is $25.49. The stock has a market capitalization of $2.46 billion, a P/E ratio of 23.45 and a beta of 1.39. The company has a current ratio of 1.91, a quick ratio of 0.78 and a debt-to-equity ratio of 4.51. Trinity Industries has a fifty-two week low of $20.04 and a fifty-two week high of $30.46.

Trinity Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend was Friday, April 12th. Trinity Industries’s dividend payout ratio (DPR) is currently 88.89%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Susquehanna lifted their target price on Trinity Industries from $30.00 to $34.00 and gave the stock a “positive” rating in a report on Thursday. TD Cowen boosted their price objective on Trinity Industries from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Trinity Industries currently has an average rating of “Moderate Buy” and an average price target of $31.00.

Insiders Place Their Bets

In related news, CFO Eric R. Marchetto sold 9,781 shares of the stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $28.00, for a total transaction of $273,868.00. Following the transaction, the chief financial officer now owns 233,704 shares of the company’s stock, valued at approximately $6,543,712. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

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.