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 guidance of 1.350-1.550 for the period, compared to the consensus earnings per share estimate of 1.420. The company issued revenue guidance of -.

Trinity Industries Stock Up 8.2 %

TRN traded up $2.14 during trading hours on Wednesday, reaching $28.16. 379,575 shares of the stock traded hands, compared to its average volume of 498,438. The firm’s fifty day simple moving average is $26.40 and its two-hundred day simple moving average is $25.46. The company has a market cap of $2.31 billion, a price-to-earnings ratio of 22.41 and a beta of 1.39. Trinity Industries has a fifty-two week low of $20.04 and a fifty-two week high of $28.86. The company has a debt-to-equity ratio of 4.51, a current ratio of 1.91 and a quick ratio of 0.78.

Trinity Industries (NYSE:TRN) last posted its quarterly earnings data on Thursday, February 22nd. The transportation company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.16. Trinity Industries had a net margin of 3.55% and a return on equity of 9.29%. The firm had revenue of $797.90 million for the quarter, compared to the consensus estimate of $749.25 million. During the same period in the prior year, the firm posted $0.44 EPS. The firm’s revenue was up 35.0% compared to the same quarter last year. As a group, analysts forecast that Trinity Industries will post 1.46 earnings per share for the current fiscal year.

Trinity Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 15th were issued a $0.28 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.98%. Trinity Industries’s dividend payout ratio (DPR) is presently 88.89%.

Analyst Upgrades and Downgrades

Separately, Susquehanna dropped their price objective on shares of Trinity Industries from $32.00 to $30.00 and set a positive rating on the stock in a report on Friday, February 23rd. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $29.00.

Insider Buying and Selling at Trinity Industries

In other Trinity Industries news, CFO Eric R. Marchetto sold 9,781 shares of the firm’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 transaction, the chief financial officer now owns 233,704 shares of the company’s stock, valued at approximately $6,543,712. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.60% of the stock is owned by corporate 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.