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

Trinity Industries (NYSE:TRN - Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 1.350-1.550 for the period, compared to the consensus earnings per share estimate of 1.420. The company issued revenue guidance of -.

Trinity Industries Trading Up 13.6 %

NYSE:TRN traded up $3.53 during trading hours on Wednesday, hitting $29.55. 1,400,813 shares of the stock were exchanged, compared to its average volume of 510,904. The company's 50 day moving average is $26.46 and its two-hundred day moving average is $25.49. Trinity Industries has a twelve month low of $20.04 and a twelve month high of $29.83. The company has a quick ratio of 0.78, a current ratio of 1.91 and a debt-to-equity ratio of 4.51. The company has a market capitalization of $2.42 billion, a P/E ratio of 23.45 and a beta of 1.39.

Trinity Industries (NYSE:TRN - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The transportation company reported $0.82 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.16. The company had revenue of $797.90 million for the quarter, compared to the consensus estimate of $749.25 million. Trinity Industries had a return on equity of 9.29% and a net margin of 3.55%. The firm's quarterly revenue was up 35.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.44 EPS. On average, sell-side analysts anticipate that Trinity Industries will post 1.46 earnings per share for the current fiscal year.

Trinity Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 3.79%. The ex-dividend date of this dividend was Friday, April 12th. Trinity Industries's payout ratio is 88.89%.

Wall Street Analysts Forecast Growth

Separately, Susquehanna cut their price objective on shares of Trinity Industries from $32.00 to $30.00 and set a positive rating for the company in a research report on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $29.00.

Insiders Place Their Bets

In related news, CFO Eric R. Marchetto sold 9,781 shares of the business's stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $28.00, for a total value of $273,868.00. Following the sale, the chief financial officer now owns 233,704 shares of the company's stock, valued at $6,543,712. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.60% of the company's stock.

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.