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

Trinity Industries (NYSE:TRN) released its quarterly earnings results on Thursday. The transportation company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05, Briefing.com reports. The company had revenue of $798.80 million during the quarter, compared to the consensus estimate of $696.00 million. Trinity Industries had a net margin of 4.98% and a return on equity of 13.66%. Trinity Industries’s revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.26 earnings per share. 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 Stock Down 5.0 %

Shares of Trinity Industries stock traded down $1.70 during midday trading on Friday, hitting $32.58. The company had a trading volume of 670,949 shares, 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 debt-to-equity ratio of 4.39, a quick ratio of 0.98 and a current ratio of 1.91. The stock has a market capitalization of $2.69 billion, a P/E ratio of 15.87 and a beta of 1.39. The company has a 50 day moving average of $33.77 and a 200 day moving average of $31.56.

Trinity Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders 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 dividend yield of 3.44%. Trinity Industries’s payout ratio is 54.63%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TRN. StockNews.com raised Trinity Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Susquehanna lowered Trinity Industries from a “positive” rating to a “neutral” rating and raised their price objective for the company from $34.00 to $35.00 in a research report on Monday, October 21st.

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.