Trinity Industries (NYSE:TRN) Releases 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 net margin of 3.98% and a return on equity of 10.93%. The company had revenue of $841.40 million for the quarter, compared to the consensus estimate of $738.00 million. During the same period last year, the firm posted $0.23 EPS. The company’s revenue for the quarter 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 Stock Performance

Shares of Trinity Industries stock traded down $2.53 on Friday, reaching $33.97. The stock had a trading volume of 1,089,484 shares, compared to its average volume of 562,721. The business’s 50-day moving average price is $30.56 and its two-hundred day moving average price is $28.20. The company has a debt-to-equity ratio of 4.55, a quick ratio of 0.91 and a current ratio of 1.88. Trinity Industries has a fifty-two week low of $20.04 and a fifty-two week high of $37.04. The stock has a market cap of $2.78 billion, a P/E ratio of 22.52 and a beta of 1.41.

Trinity Industries Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have commented on TRN shares. Susquehanna boosted their price target 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. TD Cowen lifted their price objective on shares of Trinity Industries from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.