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

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

Trinity Industries Trading Down 5.0 %

Shares of TRN stock opened at $32.58 on Friday. 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 stock has a market cap of $2.69 billion, a P/E ratio of 15.89 and a beta of 1.39. The stock has a 50 day simple moving average of $33.77 and a 200 day simple moving average of $31.64. Trinity Industries has a 1 year low of $21.17 and a 1 year high of $37.04.

Trinity Industries (NYSE:TRN) last issued its quarterly 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 business had revenue of $798.80 million during the quarter, compared to analysts’ expectations 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 for the quarter was down 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.26 earnings per share. On average, research analysts predict that Trinity Industries will post 1.65 earnings per share for the current fiscal 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 dividend yield of 3.44%. The ex-dividend date was Tuesday, October 15th. Trinity Industries’s dividend payout ratio (DPR) is currently 54.63%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TRN shares. StockNews.com upgraded Trinity Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Susquehanna downgraded shares of Trinity Industries from a “positive” rating to a “neutral” rating and boosted their price objective for the company from $34.00 to $35.00 in a research report on Monday, October 21st.

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.