Trinity Industries (NYSE:TRN) Updates FY 2024 Earnings Guidance

Trinity Industries (NYSE:TRN) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 1.350-1.550 for the period, compared to the consensus earnings per share estimate of 1.420. The company issued revenue guidance of -.

Analyst Ratings Changes

Several brokerages have commented on TRN. Susquehanna lifted their price objective on shares of Trinity Industries from $30.00 to $34.00 and gave the stock a positive rating in a research report on Thursday. TD Cowen upped their price objective on Trinity Industries from $30.00 to $33.00 and gave the company a buy rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $31.00.

Trinity Industries Price Performance

NYSE:TRN traded up $0.39 during mid-day trading on Friday, hitting $30.44. 628,976 shares of the stock traded hands, compared to its average volume of 628,005. The business’s 50-day moving average price is $26.67 and its 200 day moving average price is $25.57. The company has a quick ratio of 0.78, a current ratio of 1.88 and a debt-to-equity ratio of 4.55. The company has a market cap of $2.49 billion, a PE ratio of 20.43 and a beta of 1.39. Trinity Industries has a 12-month low of $20.04 and a 12-month high of $30.65.

Trinity Industries (NYSE:TRN) last released its quarterly earnings results on Wednesday, May 1st. The transportation company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. Trinity Industries had a net margin of 3.98% and a return on equity of 10.93%. The firm had revenue of $809.60 million during the quarter, compared to analyst estimates of $750.97 million. During the same period in the previous year, the business earned $0.07 EPS. The business’s revenue for the quarter was up 26.2% on a year-over-year basis. On average, analysts expect that Trinity Industries will post 1.46 EPS for the current fiscal year.

Trinity Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th were issued a $0.28 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $1.12 annualized dividend and a dividend yield of 3.68%. Trinity Industries’s payout ratio is currently 75.17%.

Insider Activity

In other Trinity Industries news, CFO Eric R. Marchetto sold 9,781 shares of Trinity Industries stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $28.00, for a total transaction of $273,868.00. Following the completion of the sale, the chief financial officer now directly owns 233,704 shares in the company, valued at $6,543,712. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.60% of the company’s stock.

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.