Trinity Industries (NYSE:TRN) Announces Earnings Results, Beats Expectations By $0.07 EPS

Trinity Industries (NYSE:TRN) announced its earnings results on Wednesday. The transportation company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.26 by $0.07, Briefing.com reports. Trinity Industries had a net margin of 3.55% and a return on equity of 9.29%. The firm had revenue of $809.60 million for the quarter, compared to the consensus estimate of $750.97 million. During the same period last year, the company posted $0.07 EPS. The business’s quarterly revenue 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 Price Performance

NYSE:TRN traded up $0.32 during trading hours on Thursday, reaching $29.87. 604,397 shares of the company were exchanged, compared to its average volume of 511,431. The business has a 50 day moving average of $26.46 and a 200 day moving average of $25.49. Trinity Industries has a 1-year low of $20.04 and a 1-year high of $30.46. The company has a debt-to-equity ratio of 4.51, a current ratio of 1.91 and a quick ratio of 0.78. The company has a market capitalization of $2.45 billion, a P/E ratio of 23.45 and a beta of 1.39.

Trinity Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were given a $0.28 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.75%. Trinity Industries’s payout ratio is 88.89%.

Insider Activity

In related news, CFO Eric R. Marchetto sold 9,781 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $28.00, for a total value of $273,868.00. Following the transaction, the chief financial officer now owns 233,704 shares in the company, valued at $6,543,712. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on TRN shares. TD Cowen lifted their price target on Trinity Industries from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday. Susquehanna boosted their target price on Trinity Industries from $30.00 to $34.00 and gave the company a “positive” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $31.00.

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.