TriMas (NASDAQ:TRS) Updates FY24 Earnings Guidance

by · The Cerbat Gem

TriMas (NASDAQ:TRS – Get Free Report) updated its FY24 earnings guidance on Monday. The company provided earnings per share guidance of $1.70-1.90 for the period, compared to the consensus earnings per share estimate of $1.71. TriMas also updated its FY 2024 guidance to 1.700-1.900 EPS.

TriMas Stock Performance

Shares of NASDAQ TRS traded up $0.30 during trading on Thursday, reaching $27.64. 34,143 shares of the company traded hands, compared to its average volume of 267,468. The firm has a 50 day simple moving average of $25.91 and a 200-day simple moving average of $25.83. The company has a quick ratio of 1.48, a current ratio of 2.82 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $1.12 billion, a PE ratio of 42.72 and a beta of 0.66. TriMas has a 52-week low of $22.45 and a 52-week high of $28.51.

TriMas (NASDAQ:TRS – Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.14). The business had revenue of $229.36 million during the quarter, compared to analysts’ expectations of $239.33 million. TriMas had a return on equity of 9.23% and a net margin of 2.93%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.57 EPS. Equities research analysts anticipate that TriMas will post 1.75 earnings per share for the current year.

TriMas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, November 5th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.58%. The ex-dividend date is Tuesday, November 5th. TriMas’s payout ratio is currently 25.00%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. StockNews.com cut shares of TriMas from a “hold” rating to a “sell” rating in a research report on Tuesday. BWS Financial reaffirmed a “buy” rating and set a $40.00 price objective on shares of TriMas in a research note on Tuesday.

Read Our Latest Analysis on TRS

TriMas Company Profile

(Get Free Report)

TriMas Corporation engages in the design, development, manufacture, and sale of products for consumer products, aerospace, and industrial markets worldwide. The company operates through Packaging, Aerospace, and Specialty Products segments. The Packaging segment offers dispensing products, such as foaming and sanitizer pumps, lotion and hand soap pumps, beverage dispensers, perfume sprayers, and nasal and trigger sprayers; polymeric and steel caps and closures comprising food lids, flip-top and beverage closures, child resistance caps, drum and pail closures, and flexible spouts; polymeric jar products; integrated dispensers; bag-in-box products; and consumable vascular delivery and diagnostic test components under the Rieke, Taplast, Affaba & Ferrari, Intertech, Omega, and Rapak brands.

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