Trinity Industries (NYSE:TRN) Updates FY 2024 Earnings Guidance

Trinity Industries (NYSE:TRN) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 1.350-1.550 for the period, compared to the consensus estimate of 1.420. The company issued revenue guidance of -.

Wall Street Analysts Forecast Growth

TRN has been the topic of a number of recent research reports. Susquehanna upped their target price on Trinity Industries from $30.00 to $34.00 and gave the stock a positive rating in a research note on Thursday. TD Cowen raised their price objective on shares of Trinity Industries from $30.00 to $33.00 and gave the stock a buy rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $31.00.

Trinity Industries Price Performance

Trinity Industries stock traded up $0.39 during midday trading on Friday, reaching $30.44. The company had a trading volume of 628,976 shares, compared to its average volume of 628,005. The firm’s fifty day simple moving average is $26.67 and its 200-day simple moving average is $25.57. Trinity Industries has a 12-month low of $20.04 and a 12-month high of $30.65. The company has a market capitalization of $2.49 billion, a P/E ratio of 20.43 and a beta of 1.39. The company has a debt-to-equity ratio of 4.55, a current ratio of 1.88 and a quick ratio of 0.78.

Trinity Industries (NYSE:TRN) last issued its quarterly earnings results on Wednesday, May 1st. The transportation company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.26 by $0.07. Trinity Industries had a return on equity of 10.93% and a net margin of 3.98%. The firm had revenue of $809.60 million during the quarter, compared to analysts’ expectations of $750.97 million. During the same period in the previous year, the business earned $0.07 earnings per share. The firm’s revenue for the quarter was up 26.2% on a year-over-year basis. As a group, equities analysts anticipate that Trinity Industries will post 1.46 EPS for the current year.

Trinity Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 15th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, April 12th. This represents a $1.12 annualized dividend and a yield of 3.68%. Trinity Industries’s dividend payout ratio is presently 75.17%.

Insider Buying and Selling at Trinity Industries

In other Trinity Industries news, CFO Eric R. Marchetto sold 9,781 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $28.00, for a total transaction 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 Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is owned by insiders.

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.