Trinity Industries (NYSE:TRN) Releases 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 TRN stock traded down $1.70 on Friday, reaching $32.58. 704,768 shares of the stock were exchanged, compared to its average volume of 480,974. The company has a quick ratio of 0.98, a current ratio of 2.00 and a debt-to-equity ratio of 4.39. The stock has a market cap of $2.69 billion, a P/E ratio of 15.89 and a beta of 1.39. The firm has a 50 day moving average of $33.77 and a two-hundred day moving average of $31.60. Trinity Industries has a 1-year low of $21.17 and a 1-year high of $37.04.

Trinity Industries (NYSE:TRN) last announced its quarterly earnings results on Thursday, October 31st. The transportation company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.38 by $0.05. The company had revenue of $798.80 million during the quarter, compared to analyst estimates of $696.00 million. Trinity Industries had a return on equity of 14.57% and a net margin of 5.31%. The firm’s revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.26 earnings per share. On average, research analysts anticipate that Trinity Industries will post 1.65 EPS for the current year.

Trinity Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were paid a dividend of $0.28 per share. The ex-dividend date was Tuesday, October 15th. This represents a $1.12 annualized dividend and a yield of 3.44%. Trinity Industries’s dividend payout ratio is currently 54.63%.

Analyst Ratings Changes

A number of equities analysts have recently commented on TRN shares. Susquehanna downgraded shares of Trinity Industries from a “positive” rating to a “neutral” rating and raised their target price for the company from $34.00 to $35.00 in a research note on Monday, October 21st. StockNews.com raised Trinity Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th.

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.