Trinity Industries (NYSE:TRN) Releases Earnings Results, Beats Estimates By $0.32 EPS

Trinity Industries (NYSE:TRN) issued its quarterly earnings results on Thursday. The transportation company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.32, Briefing.com reports. The business had revenue of $841.40 million for the quarter, compared to the consensus estimate of $738.00 million. Trinity Industries had a return on equity of 13.66% and a net margin of 4.98%. Trinity Industries’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 earnings per share. Trinity Industries updated its FY24 guidance to $1.55-1.75 EPS and its FY 2024 guidance to 1.550-1.750 EPS.

Trinity Industries Stock Performance

Shares of TRN stock opened at $33.97 on Friday. Trinity Industries has a fifty-two week low of $20.04 and a fifty-two week high of $37.04. The stock’s 50-day moving average is $30.63 and its two-hundred day moving average is $28.26. The company has a debt-to-equity ratio of 4.39, a current ratio of 1.91 and a quick ratio of 0.91. The firm has a market cap of $2.78 billion, a P/E ratio of 22.80 and a beta of 1.41.

Trinity Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th were paid a $0.28 dividend. The ex-dividend date was Monday, July 15th. This represents a $1.12 dividend on an annualized basis and a yield of 3.30%. Trinity Industries’s dividend payout ratio (DPR) is currently 75.17%.

Wall Street Analyst Weigh In

Several research firms have weighed in on TRN. Susquehanna lifted their target price on Trinity Industries from $30.00 to $34.00 and gave the company a “positive” rating in a research note on Thursday, May 2nd. TD Cowen boosted their price objective on shares of Trinity Industries from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd.

About Trinity Industries

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.