Trinity Industries (NYSE:TRN) Issues FY24 Earnings Guidance

Trinity Industries (NYSE:TRN) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.70-$1.80 for the period, compared to the consensus earnings per share estimate of $1.75. Trinity Industries also updated its FY 2024 guidance to 1.700-1.800 EPS.

Trinity Industries Trading Down 5.0 %

Shares of NYSE:TRN traded down $1.70 during trading hours on Friday, hitting $32.58. 704,768 shares of the company’s stock traded hands, compared to its average volume of 480,974. The firm has a market capitalization of $2.69 billion, a P/E ratio of 15.89 and a beta of 1.39. The business has a fifty day moving average price of $33.77 and a 200-day moving average price of $31.60. Trinity Industries has a 1 year low of $21.17 and a 1 year high of $37.04. The company has a debt-to-equity ratio of 4.39, a current ratio of 2.00 and a quick ratio of 0.98.

Trinity Industries (NYSE:TRN) last posted its quarterly earnings data on Thursday, October 31st. The transportation company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.05. Trinity Industries had a return on equity of 14.57% and a net margin of 5.31%. The company had revenue of $798.80 million during the quarter, compared to analysts’ expectations of $696.00 million. During the same quarter in the previous year, the business earned $0.26 EPS. Trinity Industries’s revenue was down 2.7% compared to the same quarter last year. Equities analysts expect that Trinity Industries will post 1.65 earnings per share for the current year.

Trinity Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend was Tuesday, October 15th. Trinity Industries’s dividend payout ratio is presently 54.63%.

Analyst Ratings Changes

TRN has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Trinity Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Susquehanna cut Trinity Industries from a “positive” rating to a “neutral” rating and increased their price objective for the stock from $34.00 to $35.00 in a research note on Monday, October 21st.

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.