Trinity Industries (NYSE:TRN) Shares Down 9.9% Following Weak Earnings

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Trinity Industries, Inc. (NYSE:TRN - Get Free Report) shares fell 9.9% during mid-day trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $23.20 and last traded at $22.52. 193,683 shares changed hands during trading, a decline of 67% from the average session volume of 588,027 shares. The stock had previously closed at $24.98.

The transportation company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.31 by ($0.12). The company had revenue of $506.20 million for the quarter, compared to analysts' expectations of $589.96 million. Trinity Industries had a return on equity of 8.49% and a net margin of 3.83%. The firm's quarterly revenue was down 39.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 EPS.

Trinity Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Tuesday, July 15th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $1.20 dividend on an annualized basis and a yield of 4.9%. Trinity Industries's payout ratio is currently 105.26%.

Analysts Set New Price Targets

A number of research firms recently commented on TRN. The Goldman Sachs Group decreased their price objective on shares of Trinity Industries from $36.00 to $31.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Wall Street Zen downgraded shares of Trinity Industries from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Susquehanna reduced their price target on shares of Trinity Industries from $26.00 to $24.00 and set a "neutral" rating on the stock in a report on Tuesday, July 29th.

Institutional Trading of Trinity Industries

Several institutional investors and hedge funds have recently modified their holdings of TRN. Nuveen LLC purchased a new stake in shares of Trinity Industries in the first quarter valued at about $22,940,000. Millennium Management LLC lifted its holdings in shares of Trinity Industries by 329.2% in the first quarter. Millennium Management LLC now owns 637,990 shares of the transportation company's stock valued at $17,902,000 after purchasing an additional 489,348 shares in the last quarter. Invesco Ltd. raised its position in shares of Trinity Industries by 48.5% in the first quarter. Invesco Ltd. now owns 1,281,326 shares of the transportation company's stock valued at $35,954,000 after buying an additional 418,371 shares during the last quarter. Granite Investment Partners LLC acquired a new position in shares of Trinity Industries in the fourth quarter valued at approximately $14,532,000. Finally, American Century Companies Inc. raised its position in shares of Trinity Industries by 15.9% in the first quarter. American Century Companies Inc. now owns 2,534,417 shares of the transportation company's stock valued at $71,116,000 after buying an additional 347,051 shares during the last quarter. Hedge funds and other institutional investors own 86.57% of the company's stock.

Trinity Industries Trading Up 1.4%

The business's 50-day moving average price is $26.52 and its two-hundred day moving average price is $28.65. The company has a debt-to-equity ratio of 4.66, a current ratio of 1.96 and a quick ratio of 1.01. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 21.46 and a beta of 1.49.

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.