Trinity Industries (NYSE:TRN) Issues FY24 Earnings Guidance

Trinity Industries (NYSE:TRN) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $1.70-$1.80 for the period, compared to the consensus EPS estimate of $1.75. Trinity Industries also updated its FY 2024 guidance to 1.700-1.800 EPS.

Wall Street Analysts Forecast Growth

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

Trinity Industries Trading Down 5.0 %

Shares of Trinity Industries stock opened at $32.58 on Friday. The stock has a fifty day simple moving average of $33.77 and a 200 day simple moving average of $31.64. Trinity Industries has a 12-month low of $21.17 and a 12-month high of $37.04. The company has a market capitalization of $2.69 billion, a P/E ratio of 15.89 and a beta of 1.39. The company has a current ratio of 2.00, a quick ratio of 0.98 and a debt-to-equity ratio of 4.39.

Trinity Industries (NYSE:TRN) last announced its quarterly earnings results on Thursday, October 31st. The transportation company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.05. Trinity Industries had a return on equity of 14.57% and a net margin of 5.31%. The business had revenue of $798.80 million during the quarter, compared to the consensus estimate of $696.00 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. Trinity Industries’s revenue was down 2.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Trinity Industries will post 1.65 earnings per share for the current fiscal year.

Trinity Industries Announces Dividend

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

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.