Trinity Industries (NYSE:TRN) Announces Earnings Results

Trinity Industries (NYSE:TRN) released its earnings results on Thursday. The transportation company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.05, Briefing.com reports. The company had revenue of $798.80 million for the quarter, compared to analysts’ expectations of $696.00 million. Trinity Industries had a return on equity of 14.57% and a net margin of 5.31%. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.26 EPS. 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 opened at $32.58 on Friday. The company has a market capitalization of $2.69 billion, a P/E ratio of 15.89 and a beta of 1.39. The stock’s 50 day moving average price is $33.77 and its 200 day moving average price is $31.64. The company has a debt-to-equity ratio of 4.39, a quick ratio of 0.98 and a current ratio of 2.00. Trinity Industries has a 52 week low of $21.17 and a 52 week high of $37.04.

Trinity Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were paid a $0.28 dividend. 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%.

Analyst Upgrades and Downgrades

Several research firms recently commented on TRN. Susquehanna cut shares of Trinity Industries from a “positive” rating to a “neutral” rating and raised their price target for the stock from $34.00 to $35.00 in a report on Monday, October 21st. StockNews.com raised shares of Trinity Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th.

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.