Trinity Industries (NYSE:TRN) Releases FY 2024 Earnings Guidance

Trinity Industries (NYSE:TRN) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 1.700-1.800 for the period, compared to the consensus EPS estimate of 1.750. The company issued revenue guidance of -. Trinity Industries also updated its FY24 guidance to $1.70-$1.80 EPS.

Analysts Set New Price Targets

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

Trinity Industries Stock Down 5.0 %

Shares of TRN traded down $1.70 during trading hours on Friday, reaching $32.58. 704,768 shares of the stock traded hands, compared to its average volume of 480,974. The company has a current ratio of 2.00, a quick ratio of 0.98 and a debt-to-equity ratio of 4.39. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 15.89 and a beta of 1.39. Trinity Industries has a 52 week low of $21.17 and a 52 week high of $37.04. The stock has a fifty day simple moving average of $33.77 and a 200 day simple moving average of $31.60.

Trinity Industries (NYSE:TRN) last released its earnings results on Thursday, October 31st. The transportation company reported $0.43 earnings per share (EPS) for the quarter, beating 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%. Trinity Industries’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.26 earnings per share. On average, equities analysts forecast that Trinity Industries will post 1.65 EPS 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 given 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 payout ratio is currently 54.63%.

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.