Trinity Industries (NYSE:TRN) Releases FY24 Earnings Guidance

Trinity Industries (NYSE:TRN - Get Free Report) 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 Stock Down 4.1 %

TRN traded down $1.45 during trading hours on Thursday, hitting $34.28. 435,606 shares of the company's stock were exchanged, compared to its average volume of 546,149. The firm has a market cap of $2.81 billion, a P/E ratio of 23.98 and a beta of 1.39. Trinity Industries has a 12-month low of $20.43 and a 12-month high of $37.04. The company has a current ratio of 1.91, a quick ratio of 0.98 and a debt-to-equity ratio of 4.39. The firm has a 50 day moving average of $33.72 and a 200 day moving average of $31.54.

Trinity Industries (NYSE:TRN - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The transportation company reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.32. Trinity Industries had a return on equity of 13.66% and a net margin of 4.98%. The business had revenue of $841.40 million for the quarter, compared to analyst estimates of $738.00 million. During the same quarter in the prior year, the company earned $0.23 earnings per share. The company's revenue was up 16.5% on a year-over-year basis. Analysts predict that Trinity Industries will post 1.65 EPS for the current fiscal year.

Trinity Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be paid a $0.28 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $1.12 dividend on an annualized basis and a yield of 3.27%. Trinity Industries's dividend payout ratio is currently 75.17%.

Analysts Set New Price Targets

Several research firms have recently commented on TRN. Susquehanna cut Trinity Industries from a "positive" rating to a "neutral" rating and upped their price target for the stock from $34.00 to $35.00 in a research note on Monday, October 21st. StockNews.com upgraded Trinity Industries from a "hold" rating to a "buy" rating in a report on Tuesday, September 10th.

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.