B. Riley Comments on Trinity Capital Inc.’s Q2 2024 Earnings (NASDAQ:TRIN)

Trinity Capital Inc. (NASDAQ:TRIN) – Stock analysts at B. Riley dropped their Q2 2024 EPS estimates for Trinity Capital in a research note issued on Thursday, May 2nd. B. Riley analyst B. Rowe now forecasts that the company will post earnings of $0.51 per share for the quarter, down from their prior estimate of $0.58. B. Riley currently has a “Buy” rating and a $16.00 price objective on the stock. The consensus estimate for Trinity Capital’s current full-year earnings is $2.14 per share. B. Riley also issued estimates for Trinity Capital’s Q3 2024 earnings at $0.53 EPS, Q4 2024 earnings at $0.55 EPS and FY2024 earnings at $2.13 EPS.

Separately, UBS Group increased their price target on Trinity Capital from $16.00 to $16.50 and gave the stock a “buy” rating in a report on Monday, March 18th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.50.

Trinity Capital Trading Up 1.0 %

Shares of TRIN stock opened at $14.63 on Monday. Trinity Capital has a 1-year low of $11.32 and a 1-year high of $15.44. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.08. The stock has a market cap of $723.89 million, a price-to-earnings ratio of 9.09 and a beta of 0.60. The stock has a 50-day moving average of $14.66 and a 200-day moving average of $14.51.

Trinity Capital (NASDAQ:TRIN) last posted its earnings results on Wednesday, May 1st. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). The business had revenue of $50.45 million for the quarter, compared to the consensus estimate of $50.09 million. Trinity Capital had a return on equity of 16.73% and a net margin of 36.12%. During the same period in the previous year, the firm earned $0.52 earnings per share.

Trinity Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 13.94%. This is an increase from Trinity Capital’s previous quarterly dividend of $0.50. The ex-dividend date was Wednesday, March 27th. Trinity Capital’s payout ratio is currently 126.71%.

Insider Transactions at Trinity Capital

In other news, CEO Kyle Steven Brown acquired 3,354 shares of Trinity Capital stock in a transaction on Thursday, March 14th. The stock was acquired at an average cost of $14.91 per share, with a total value of $50,008.14. Following the transaction, the chief executive officer now owns 821,477 shares of the company’s stock, valued at approximately $12,248,222.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 7.75% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new position in Trinity Capital during the third quarter valued at about $363,000. Commonwealth Equity Services LLC grew its position in shares of Trinity Capital by 16.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 33,646 shares of the company’s stock valued at $468,000 after acquiring an additional 4,746 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in shares of Trinity Capital by 122.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 29,154 shares of the company’s stock worth $406,000 after purchasing an additional 16,026 shares during the last quarter. Emerald Advisers LLC raised its holdings in shares of Trinity Capital by 8.8% in the 3rd quarter. Emerald Advisers LLC now owns 755,562 shares of the company’s stock worth $10,517,000 after purchasing an additional 60,890 shares during the period. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in Trinity Capital by 53.3% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 116,158 shares of the company’s stock valued at $1,617,000 after purchasing an additional 40,383 shares during the last quarter. Hedge funds and other institutional investors own 24.62% of the company’s stock.

Trinity Capital Company Profile

Trinity Capital Inc is a business development company. It is a venture capital firm specializing in venture debt to growth stage companies looking for loans and/or equipment financing. Trinity Capital Inc was founded in 2019 is based in Phoenix, Arizona with additional offices in the United States.