TriMas (NASDAQ:TRS) Releases Quarterly Earnings Results, Misses Estimates By $0.14 EPS

TriMas (NASDAQ:TRS) released its quarterly earnings results on Monday. The industrial products company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.14), Briefing.com reports. TriMas had a return on equity of 9.23% and a net margin of 2.93%. The business had revenue of $229.36 million during the quarter, compared to analyst estimates of $239.33 million. During the same period in the previous year, the company posted $0.57 EPS. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. TriMas updated its FY24 guidance to $1.70-1.90 EPS and its FY 2024 guidance to 1.700-1.900 EPS.

TriMas Stock Up 4.4 %

Shares of NASDAQ:TRS opened at $27.34 on Thursday. The business has a 50-day moving average price of $25.91 and a 200 day moving average price of $25.83. TriMas has a 12-month low of $22.45 and a 12-month high of $28.51. The company has a current ratio of 2.82, a quick ratio of 1.48 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 42.72 and a beta of 0.66.

TriMas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, November 5th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.16 annualized dividend and a yield of 0.59%. TriMas’s dividend payout ratio (DPR) is 25.00%.

Analyst Ratings Changes

Several brokerages recently commented on TRS. StockNews.com lowered shares of TriMas from a “hold” rating to a “sell” rating in a report on Tuesday. BWS Financial reissued a “buy” rating and set a $40.00 target price on shares of TriMas in a research note on Tuesday.

TriMas Company Profile

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.