TriMas (NASDAQ:TRS) Posts Quarterly Earnings Results, Misses Estimates By $0.14 EPS

TriMas (NASDAQ:TRS) issued its quarterly earnings results on Monday. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.14), Briefing.com reports. TriMas had a return on equity of 9.23% and a net margin of 2.93%. The firm had revenue of $229.36 million during the quarter, compared to analysts’ expectations of $239.33 million. During the same quarter in the prior year, the firm earned $0.57 EPS. The firm’s revenue was down 2.5% compared to the same quarter last year. TriMas updated its FY24 guidance to $1.70-1.90 EPS and its FY 2024 guidance to 1.700-1.900 EPS.

TriMas Stock Performance

NASDAQ TRS opened at $27.34 on Thursday. The company has a fifty day moving average of $25.91 and a two-hundred day moving average of $25.83. The company has a market capitalization of $1.11 billion, a PE ratio of 42.72 and a beta of 0.66. TriMas has a 1 year low of $22.45 and a 1 year high of $28.51. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.82 and a quick ratio of 1.48.

TriMas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, November 5th will be paid a dividend of $0.04 per share. The ex-dividend date is Tuesday, November 5th. This represents a $0.16 annualized dividend and a yield of 0.59%. TriMas’s dividend payout ratio is currently 25.00%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TRS. BWS Financial reiterated a “buy” rating and set a $40.00 target price on shares of TriMas in a research note on Tuesday. StockNews.com downgraded TriMas from a “hold” rating to a “sell” rating in a report on Tuesday.

About TriMas

TriMas Corporation engages in the design, development, manufacture, and sale of products for consumer products, aerospace, and industrial markets worldwide. The company operates through Packaging, Aerospace, and Specialty Products segments. The Packaging segment offers dispensing products, such as foaming and sanitizer pumps, lotion and hand soap pumps, beverage dispensers, perfume sprayers, and nasal and trigger sprayers; polymeric and steel caps and closures comprising food lids, flip-top and beverage closures, child resistance caps, drum and pail closures, and flexible spouts; polymeric jar products; integrated dispensers; bag-in-box products; and consumable vascular delivery and diagnostic test components under the Rieke, Taplast, Affaba & Ferrari, Intertech, Omega, and Rapak brands.