Trinity Industries (NYSE:TRN) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Trinity Industries (NYSE:TRN) issued its earnings results on Thursday. The transportation company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05, Briefing.com reports. Trinity Industries had a net margin of 4.98% and a return on equity of 13.66%. The firm had revenue of $798.80 million during the quarter, compared to analyst estimates of $696.00 million. During the same quarter in the prior year, the business earned $0.26 earnings per share. Trinity Industries’s revenue for the quarter was down 2.7% on a year-over-year basis. Trinity Industries updated its FY 2024 guidance to 1.700-1.800 EPS and its FY24 guidance to $1.70-$1.80 EPS.

Trinity Industries Trading Down 5.0 %

NYSE TRN traded down $1.70 during trading hours on Friday, hitting $32.58. 670,949 shares of the company were exchanged, compared to its average volume of 546,897. Trinity Industries has a 52 week low of $21.17 and a 52 week high of $37.04. The company has a quick ratio of 0.98, a current ratio of 1.91 and a debt-to-equity ratio of 4.39. The stock has a 50-day moving average price of $33.77 and a 200 day moving average price of $31.56. The stock has a market cap of $2.69 billion, a PE ratio of 15.87 and a beta of 1.39.

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 given a $0.28 dividend. 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 is currently 54.63%.

Analysts Set New Price Targets

A number of equities analysts recently commented on TRN shares. Susquehanna lowered Trinity Industries from a “positive” rating to a “neutral” rating and increased their price target for the company from $34.00 to $35.00 in a research note on Monday, October 21st. StockNews.com upgraded Trinity Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th.

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.