TriMas (NASDAQ:TRS) Quarterly Earnings Report

TriMas (NASDAQ:TRS) announced its quarterly earnings on Monday. For the quarter, the industrial products company posted earnings of $0.43 per share, which fell short of analysts’ expectations of $0.57 by $0.14, according to Briefing.com. The total revenue for the quarter reached $229.36 million, but this was below the forecasted revenue of $239.33 million. Additionally, TriMas reported a net margin of 4.44% and a return on equity of 9.61%. When compared to the same quarter last year, the company’s revenue experienced a decline of 2.5%. In the same quarter in the previous year, TriMas achieved earnings of $0.57 per share. Moreover, TriMas has provided updated guidance for fiscal year 2024, projecting earnings per share to be in the range of $1.70 to $1.90.

Stock Performance for TriMas

On Tuesday, shares of TriMas opened at $24.87. The fifty-day moving average stands at $25.83, while the two-hundred-day moving average is $25.82. The market capitalization of the company is approximately $1.01 billion, with a price-to-earnings (P/E) ratio of 25.38. The stock has fluctuated between a 12-month low of $22.45 and a high of $28.51. TriMas holds a quick ratio of 1.48, a current ratio of 2.82, and a debt-to-equity ratio of 0.63.

TriMas Dividend Announcement

Recently, TriMas declared a quarterly dividend of $0.04, which is set to be paid on November 12th. Shareholders on record by November 5th will receive this dividend, translating to an annualized dividend of $0.16, representing a yield of 0.64%. The ex-dividend date for this payment is also November 5th. Notably, the company has a dividend payout ratio of 16.33%.

Analyst Predictions for TriMas

In a separate note, BWS Financial has reaffirmed a "buy" rating for TriMas shares, setting a price target of $40.00 in a report issued on October 9th.

About TriMas

TriMas Corporation is involved in designing, developing, manufacturing, and selling products across various markets, including consumer products, aerospace, and industrial sectors. The organization operates several segments, including Packaging, Aerospace, and Specialty Products, offering a range of dispensing goods and closures among its product lines.

Earnings, Stocks, Revenue