Trinity Industries (NYSE:TRN) Updates FY24 Earnings Guidance

Trinity Industries (NYSE:TRN) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $1.70-$1.80 for the period, compared to the consensus earnings per share estimate of $1.75. Trinity Industries also updated its FY 2024 guidance to 1.700-1.800 EPS.

Trinity Industries Stock Down 5.0 %

TRN stock traded down $1.70 during trading on Friday, reaching $32.58. The stock had a trading volume of 704,768 shares, compared to its average volume of 480,974. The company has a quick ratio of 0.98, a current ratio of 2.00 and a debt-to-equity ratio of 4.39. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of 15.89 and a beta of 1.39. Trinity Industries has a one year low of $21.17 and a one year high of $37.04. The company’s 50 day moving average is $33.77 and its two-hundred day moving average is $31.60.

Trinity Industries (NYSE:TRN) last released its earnings results on Thursday, October 31st. The transportation company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.05. The company had revenue of $798.80 million during the quarter, compared to analyst estimates of $696.00 million. Trinity Industries had a return on equity of 14.57% and a net margin of 5.31%. Trinity Industries’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.26 earnings per share. Equities research analysts forecast that Trinity Industries will post 1.65 EPS for the current year.

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 paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend was Tuesday, October 15th. Trinity Industries’s payout ratio is 54.63%.

Analyst Ratings Changes

TRN has been the subject of several research reports. Susquehanna lowered shares of 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 report on Monday, October 21st. StockNews.com raised shares of 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.