Trinity Industries (NYSE:TRN) Trading Down 9.9% After Earnings Miss

Key Points

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Trinity Industries, Inc. (NYSE:TRN - Get Free Report)'s share price traded down 9.9% on Thursday following a weaker than expected earnings announcement. The stock traded as low as $23.20 and last traded at $22.52. 193,683 shares were traded 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.31 by ($0.12). Trinity Industries had a net margin of 4.79% and a return on equity of 11.47%. The company's revenue was down 39.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.66 EPS.

Trinity Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, July 15th. This represents a $1.20 dividend on an annualized basis and a yield of 5.19%. Trinity Industries's dividend payout ratio is presently 74.07%.

Analyst Ratings Changes

A number of equities analysts have weighed in on TRN shares. Susquehanna cut their target price on shares of Trinity Industries from $26.00 to $24.00 and set a "neutral" rating for the company in a research report on Tuesday. The Goldman Sachs Group decreased their target price on shares of Trinity Industries from $36.00 to $31.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TRN. Strs Ohio bought a new stake in Trinity Industries in the first quarter valued at $25,000. GAMMA Investing LLC boosted its holdings in Trinity Industries by 75.4% in the second quarter. GAMMA Investing LLC now owns 1,114 shares of the transportation company's stock valued at $30,000 after acquiring an additional 479 shares in the last quarter. Headlands Technologies LLC boosted its holdings in Trinity Industries by 3,418.2% in the first quarter. Headlands Technologies LLC now owns 1,548 shares of the transportation company's stock valued at $43,000 after acquiring an additional 1,504 shares in the last quarter. Trust Co. of Toledo NA OH bought a new stake in Trinity Industries in the second quarter valued at $43,000. Finally, Russell Investments Group Ltd. boosted its holdings in Trinity Industries by 97.4% in the first quarter. Russell Investments Group Ltd. now owns 3,604 shares of the transportation company's stock valued at $101,000 after acquiring an additional 1,778 shares in the last quarter. 86.57% of the stock is owned by hedge funds and other institutional investors.

Trinity Industries Trading Down 7.5%

The firm's fifty day moving average is $26.59 and its two-hundred day moving average is $28.96. The company has a quick ratio of 0.87, a current ratio of 1.70 and a debt-to-equity ratio of 4.32. The firm has a market cap of $1.89 billion, a P/E ratio of 14.27 and a beta of 1.45.

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.

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