TriMas (NASDAQ:TRS) Releases FY 2024 Earnings Guidance

TriMas (NASDAQ:TRS) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 1.700-1.900 for the period, compared to the consensus estimate of 1.710. The company issued revenue guidance of -. TriMas also updated its FY24 guidance to $1.70-1.90 EPS.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. StockNews.com lowered TriMas from a “hold” rating to a “sell” rating in a research note on Tuesday. BWS Financial reiterated a “buy” rating and issued a $40.00 target price on shares of TriMas in a research note on Tuesday.

TriMas Price Performance

Shares of TRS stock traded up $0.29 during trading hours on Thursday, hitting $27.63. 41,076 shares of the company’s stock were exchanged, compared to its average volume of 267,500. The firm has a 50 day moving average of $25.91 and a two-hundred day moving average of $25.83. TriMas has a fifty-two week low of $22.45 and a fifty-two week high of $28.51. The firm has a market cap of $1.12 billion, a P/E ratio of 42.72 and a beta of 0.66. The company has a quick ratio of 1.48, a current ratio of 2.82 and a debt-to-equity ratio of 0.63.

TriMas (NASDAQ:TRS) last released its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.14). The company had revenue of $229.36 million for the quarter, compared to analyst estimates of $239.33 million. TriMas had a return on equity of 9.23% and a net margin of 2.93%. The business’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period last year, the firm posted $0.57 EPS. Sell-side analysts forecast that TriMas will post 1.75 EPS for the current year.

TriMas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, November 5th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.58%. TriMas’s payout ratio is presently 25.00%.

About TriMas

TriMas Corporation engages in the design, development, manufacture, and sale of products for consumer products, aerospace, and industrial markets worldwide. The company operates through Packaging, Aerospace, and Specialty Products segments. The Packaging segment offers dispensing products, such as foaming and sanitizer pumps, lotion and hand soap pumps, beverage dispensers, perfume sprayers, and nasal and trigger sprayers; polymeric and steel caps and closures comprising food lids, flip-top and beverage closures, child resistance caps, drum and pail closures, and flexible spouts; polymeric jar products; integrated dispensers; bag-in-box products; and consumable vascular delivery and diagnostic test components under the Rieke, Taplast, Affaba & Ferrari, Intertech, Omega, and Rapak brands.