TriMas (TRS) Releases Earnings Results, Beats Expectations By $0.02 EPS
TriMas (NASDAQ:TRS) posted its quarterly earnings results on Tuesday. The industrial products company reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02, Bloomberg Earnings reports. The business had revenue of $224.90 million during the quarter, compared to the consensus estimate of $220.20 million. TriMas had a net margin of 5.78% and a return on equity of 12.71%. TriMas’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 earnings per share. TriMas updated its FY18 guidance to $1.65-1.75 EPS.
Shares of TriMas stock traded up $0.60 on Wednesday, hitting $30.75. The company had a trading volume of 590 shares, compared to its average volume of 89,705. The stock has a market capitalization of $1.38 billion, a PE ratio of 22.00, a price-to-earnings-growth ratio of 3.52 and a beta of 1.93. TriMas has a twelve month low of $22.70 and a twelve month high of $30.63. The company has a quick ratio of 1.50, a current ratio of 2.83 and a debt-to-equity ratio of 0.53.
Several equities research analysts have commented on the stock. BidaskClub raised shares of TriMas from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 28th. Zacks Investment Research downgraded shares of TriMas from a “hold” rating to a “sell” rating in a research note on Thursday, June 28th. JPMorgan Chase & Co. downgraded shares of TriMas from an “overweight” rating to a “neutral” rating in a research note on Thursday, July 12th. Finally, BMO Capital Markets upped their target price on shares of TriMas from $33.00 to $34.00 and gave the company an “outperform” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. TriMas currently has a consensus rating of “Hold” and a consensus target price of $30.60.
TriMas Corporation manufactures and sells products for consumer products, aerospace, industrial, petrochemical, refinery, and oil and gas markets worldwide. The company operates through four segments: Packaging, Aerospace, Energy, and Engineered Components. The Packaging segment designs and manufactures industrial closure products, including steel drum and plastic enclosures, plastic drum closures, and plastic pail dispensers and plugs; and specialty dispensing products, such as foamers, lotion pumps, fine mist sprayers, and other packaging solutions for the cosmetic, personal care, and household product markets, as well as specialty plastic closures for bottles and jars, and dispensing pumps for the food and beverage markets.
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