Q2 2024 EPS Estimates for Trinity Capital Inc. Cut by B. Riley (NASDAQ:TRIN)

Trinity Capital Inc. (NASDAQ:TRIN) – Research analysts at B. Riley dropped their Q2 2024 earnings per share (EPS) estimates for shares of Trinity Capital in a report issued on Thursday, May 2nd. B. Riley analyst B. Rowe now expects that the company will earn $0.51 per share for the quarter, down from their previous forecast of $0.58. B. Riley currently has a “Buy” rating and a $16.00 target price on the stock. The consensus estimate for Trinity Capital’s current full-year earnings is $2.14 per share. B. Riley also issued estimates for Trinity Capital’s Q3 2024 earnings at $0.53 EPS, Q4 2024 earnings at $0.55 EPS and FY2024 earnings at $2.13 EPS.

Trinity Capital (NASDAQ:TRIN) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Trinity Capital had a return on equity of 16.73% and a net margin of 36.12%. The company had revenue of $50.45 million during the quarter, compared to analysts’ expectations of $50.09 million. During the same quarter in the previous year, the company earned $0.52 EPS.

Separately, UBS Group increased their price objective on shares of Trinity Capital from $16.00 to $16.50 and gave the stock a “buy” rating in a research note on Monday, March 18th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.50.

Trinity Capital Price Performance

NASDAQ TRIN opened at $14.83 on Monday. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.08. Trinity Capital has a 12 month low of $11.32 and a 12 month high of $15.44. The stock has a market cap of $733.79 million, a price-to-earnings ratio of 9.21 and a beta of 0.60. The company’s 50 day moving average is $14.68 and its two-hundred day moving average is $14.53.

Trinity Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $2.04 annualized dividend and a dividend yield of 13.76%. This is a boost from Trinity Capital’s previous quarterly dividend of $0.50. Trinity Capital’s dividend payout ratio (DPR) is presently 126.71%.

Insider Transactions at Trinity Capital

In related news, CEO Kyle Steven Brown bought 3,354 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average cost of $14.91 per share, with a total value of $50,008.14. Following the completion of the purchase, the chief executive officer now owns 821,477 shares of the company’s stock, valued at approximately $12,248,222.07. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.75% of the company’s stock.

Hedge Funds Weigh In On Trinity Capital

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legacy Capital Wealth Partners LLC purchased a new stake in shares of Trinity Capital during the 4th quarter worth approximately $1,487,000. Quadrature Capital Ltd bought a new stake in Trinity Capital in the third quarter worth $1,241,000. Barclays PLC purchased a new stake in Trinity Capital during the third quarter valued at $1,174,000. Cornerstone Wealth Management LLC bought a new position in Trinity Capital during the fourth quarter valued at $172,000. Finally, Stratos Wealth Partners LTD. purchased a new position in shares of Trinity Capital in the 4th quarter worth $154,000. 24.62% of the stock is owned by institutional investors.

About Trinity Capital

Trinity Capital Inc is a business development company. It is a venture capital firm specializing in venture debt to growth stage companies looking for loans and/or equipment financing. Trinity Capital Inc was founded in 2019 is based in Phoenix, Arizona with additional offices in the United States.