TriMas (NASDAQ:TRS) Updates FY24 Earnings Guidance

TriMas (NASDAQ:TRS) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $1.70-1.90 for the period, compared to the consensus estimate of $1.71. TriMas also updated its FY 2024 guidance to 1.700-1.900 EPS.

Analyst Ratings Changes

TRS has been the topic of a number of analyst reports. BWS Financial reiterated a “buy” rating and issued a $40.00 price target on shares of TriMas in a research report on Tuesday. StockNews.com cut shares of TriMas from a “hold” rating to a “sell” rating in a research report on Tuesday.

TriMas Price Performance

Shares of TRS opened at $26.18 on Wednesday. The stock has a 50 day simple moving average of $25.86 and a 200 day simple moving average of $25.82. TriMas has a 52-week low of $22.45 and a 52-week high of $28.51. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.48 and a current ratio of 2.82. The firm has a market capitalization of $1.06 billion, a PE ratio of 40.91 and a beta of 0.66.

TriMas (NASDAQ:TRS) last released its quarterly earnings results on Monday, November 4th. The industrial products company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.14). TriMas had a net margin of 2.93% and a return on equity of 9.23%. The company had revenue of $229.36 million during the quarter, compared to analyst estimates of $239.33 million. During the same quarter last year, the company earned $0.57 EPS. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. Sell-side analysts predict that TriMas will post 1.75 EPS for the current fiscal year.

TriMas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, November 5th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend is Tuesday, November 5th. TriMas’s dividend payout ratio is 25.00%.

TriMas Company Profile

TriMas Corporation engages in the design, development, manufacture, and sale of products for consumer products, aerospace, and industrial markets worldwide. The company operates through Packaging, Aerospace, and Specialty Products segments. The Packaging segment offers dispensing products, such as foaming and sanitizer pumps, lotion and hand soap pumps, beverage dispensers, perfume sprayers, and nasal and trigger sprayers; polymeric and steel caps and closures comprising food lids, flip-top and beverage closures, child resistance caps, drum and pail closures, and flexible spouts; polymeric jar products; integrated dispensers; bag-in-box products; and consumable vascular delivery and diagnostic test components under the Rieke, Taplast, Affaba & Ferrari, Intertech, Omega, and Rapak brands.