Trinity Industries (NYSE:TRN) Releases Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Trinity Industries (NYSE:TRN) posted its quarterly earnings data on Wednesday. The transportation company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.26 by $0.07, Briefing.com reports. The firm had revenue of $809.60 million during the quarter, compared to analyst estimates of $750.97 million. Trinity Industries had a return on equity of 9.29% and a net margin of 3.55%. Trinity Industries’s revenue was up 26.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.07 EPS. Trinity Industries updated its FY 2024 guidance to 1.350-1.550 EPS.

Trinity Industries Price Performance

Shares of Trinity Industries stock traded up $0.32 during trading hours on Thursday, reaching $29.87. The stock had a trading volume of 604,397 shares, compared to its average volume of 511,431. The stock’s 50 day moving average is $26.46 and its 200 day moving average is $25.49. The firm has a market capitalization of $2.45 billion, a PE ratio of 23.45 and a beta of 1.39. Trinity Industries has a twelve month low of $20.04 and a twelve month high of $30.46. The company has a current ratio of 1.91, a quick ratio of 0.78 and a debt-to-equity ratio of 4.51.

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. This represents a $1.12 annualized dividend and a yield of 3.75%. The ex-dividend date was Friday, April 12th. Trinity Industries’s payout ratio is 88.89%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. TD Cowen upped their target price on shares of Trinity Industries from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday. Susquehanna raised their price objective on Trinity Industries from $30.00 to $34.00 and gave the company a “positive” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Trinity Industries has an average rating of “Moderate Buy” and a consensus target price of $31.00.

Insider Buying and Selling

In related news, CFO Eric R. Marchetto sold 9,781 shares of the company’s stock in a transaction dated 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 owns 233,704 shares of the company’s stock, valued at approximately $6,543,712. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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.