Trinity Industries (NYSE:TRN) Shares Gap Down After Earnings Miss

Trinity Industries, Inc. (NYSE:TRN) shares gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $25.10, but opened at $24.09. Trinity Industries shares last traded at $24.05, with a volume of 56,947 shares trading hands.

The transportation company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). The firm had revenue of $585.40 million for the quarter, compared to analysts’ expectations of $614.02 million. Trinity Industries had a return on equity of 11.78% and a net margin of 4.49%. The business’s quarterly revenue was down 27.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.33 earnings per share.

Trinity Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.81%. Trinity Industries’s dividend payout ratio (DPR) is presently 73.17%.

Analyst Upgrades and Downgrades

TRN has been the subject of a number of research reports. The Goldman Sachs Group lowered their price target on Trinity Industries from $36.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Susquehanna dropped their target price on shares of Trinity Industries from $35.00 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd.

Insider Activity at Trinity Industries

In related news, EVP Gregory B. Mitchell sold 9,286 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $31.02, for a total transaction of $288,051.72. Following the sale, the executive vice president now directly owns 111,879 shares in the company, valued at approximately $3,470,486.58. This trade represents a 7.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.00% of the company’s stock.

Institutional Trading of Trinity Industries

Large investors have recently bought and sold shares of the company. Segall Bryant & Hamill LLC acquired a new position in shares of Trinity Industries during the first quarter worth $1,930,000. Victory Capital Management Inc. increased its stake in Trinity Industries by 22.7% during the 1st quarter. Victory Capital Management Inc. now owns 386,248 shares of the transportation company’s stock worth $10,838,000 after buying an additional 71,420 shares during the period. Edgestream Partners L.P. lifted its holdings in Trinity Industries by 217.0% in the 1st quarter. Edgestream Partners L.P. now owns 363,439 shares of the transportation company’s stock worth $10,198,000 after buying an additional 248,784 shares in the last quarter. Stephens Inc. AR boosted its position in Trinity Industries by 6.5% in the 1st quarter. Stephens Inc. AR now owns 7,317 shares of the transportation company’s stock valued at $205,000 after buying an additional 444 shares during the last quarter. Finally, Cerity Partners LLC grew its stake in shares of Trinity Industries by 8.2% during the first quarter. Cerity Partners LLC now owns 15,794 shares of the transportation company’s stock valued at $443,000 after acquiring an additional 1,191 shares in the last quarter. Institutional investors and hedge funds own 86.57% of the company’s stock.

Trinity Industries Stock Performance

The company has a debt-to-equity ratio of 4.35, a current ratio of 1.80 and a quick ratio of 1.08. The stock has a 50-day moving average price of $27.41 and a 200-day moving average price of $33.23. The firm has a market capitalization of $2.04 billion, a PE ratio of 15.21 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.