TriMas (NASDAQ:TRS) Releases FY 2024 Earnings Guidance

TriMas (NASDAQ:TRS) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 1.700-1.900 for the period, compared to the consensus estimate of 1.710. The company issued revenue guidance of -. TriMas also updated its FY24 guidance to $1.70-1.90 EPS.

TriMas Stock Performance

NASDAQ:TRS traded up $0.29 during mid-day trading on Thursday, reaching $27.63. The company’s stock had a trading volume of 41,076 shares, compared to its average volume of 267,500. 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 firm’s fifty day moving average price is $25.91 and its two-hundred day moving average price is $25.83. The stock has a market cap of $1.12 billion, a P/E ratio of 42.72 and a beta of 0.66.

TriMas (NASDAQ:TRS) last posted its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.14). The company 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 company’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter last year, the company earned $0.57 earnings per share. On average, equities analysts forecast that TriMas will post 1.75 EPS for the current fiscal year.

TriMas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, November 5th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Tuesday, November 5th. TriMas’s dividend payout ratio (DPR) is presently 25.00%.

Wall Street Analyst Weigh In

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

About TriMas

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.