Trinity Industries (NYSE:TRN) Announces Earnings Results

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

Trinity Industries Stock Performance

Shares of NYSE:TRN traded up $0.50 during midday trading on Thursday, reaching $30.05. 1,091,123 shares of the company’s stock traded hands, compared to its average volume of 517,731. The company has a market cap of $2.46 billion, a price-to-earnings ratio of 23.45 and a beta of 1.39. The company has a debt-to-equity ratio of 4.51, a quick ratio of 0.78 and a current ratio of 1.91. Trinity Industries has a one year low of $20.04 and a one year high of $30.46. The stock has a 50 day moving average of $26.46 and a 200 day moving average of $25.49.

Trinity Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend was Friday, April 12th. Trinity Industries’s payout ratio is currently 88.89%.

Insider Activity

In other Trinity Industries news, CFO Eric R. Marchetto sold 9,781 shares of the stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $28.00, for a total value of $273,868.00. Following the transaction, the chief financial officer now owns 233,704 shares of the company’s stock, valued at $6,543,712. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

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

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.