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Trinity (TRN) Shares Decline 4.7% Since March: Here's Why
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Trinity Industries, Inc.‘s (TRN - Free Report) shares have dropped 4.7% of value since March compared with the industry’s 5.8% decline.
Reasons for Dismal Performance & Looking Ahead
Like other equipment and leasing companies, Trinity is also reeling under the effects of the coronavirus pandemic. Dismal performance of Trinity’s Rail Products Group is a concern. The segment’s below-par performance is due to low railcar deliveries and reduced operational efficiency. Segmental revenues declined 31.8% in the first six months of 2020.
Mainly due to coronavirus-related disruptions, the companyreported lower-than-expected earnings per share in the first two quarters of 2020.
Coronavirus concerns might put pressure on Trinity’s shipping volumes at least in the near term. To combat the unprecedented crisis, the company cut back on non-essential expenses. It expects to generate savings to the tune of $70 million in 2020 owing to its cost-reduction efforts in the current turbulent scenario. However, lower investments, however, might hamper its growth prospects.
The negativity revolving around the stock is evident from the Zacks Consensus Estimate for current-year earnings being revised downwards from 38 cents per share to 29 cents in the past 60 days.
Zacks Rank & Stocks to Consider
Trinity currently carries a Zacks Rank #5 (Strong Sell).
Long-term expected earnings per share (three to five years) growth rate for Knight-Swift, UPS and Werner is pegged at 15%, 7.7% and 8.5%, respectively.
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Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
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Trinity (TRN) Shares Decline 4.7% Since March: Here's Why
Trinity Industries, Inc.‘s (TRN - Free Report) shares have dropped 4.7% of value since March compared with the industry’s 5.8% decline.
Reasons for Dismal Performance & Looking Ahead
Like other equipment and leasing companies, Trinity is also reeling under the effects of the coronavirus pandemic. Dismal performance of Trinity’s Rail Products Group is a concern. The segment’s below-par performance is due to low railcar deliveries and reduced operational efficiency. Segmental revenues declined 31.8% in the first six months of 2020.
Mainly due to coronavirus-related disruptions, the companyreported lower-than-expected earnings per share in the first two quarters of 2020.
Coronavirus concerns might put pressure on Trinity’s shipping volumes at least in the near term. To combat the unprecedented crisis, the company cut back on non-essential expenses. It expects to generate savings to the tune of $70 million in 2020 owing to its cost-reduction efforts in the current turbulent scenario. However, lower investments, however, might hamper its growth prospects.
The negativity revolving around the stock is evident from the Zacks Consensus Estimate for current-year earnings being revised downwards from 38 cents per share to 29 cents in the past 60 days.
Zacks Rank & Stocks to Consider
Trinity currently carries a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks in the Zacks Transportation sector are Knight-Swift Transportation Holdings (KNX - Free Report) , United Parcel Service, Inc. (UPS - Free Report) and Werner Enterprises (WERN - Free Report) . All the stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Long-term expected earnings per share (three to five years) growth rate for Knight-Swift, UPS and Werner is pegged at 15%, 7.7% and 8.5%, respectively.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>