Triton International (NYSE:TRTN) posted its quarterly earnings results on Tuesday, April 30th. The company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.06 by $0.13, MarketWatch Earnings reports. Triton International had a return on equity of 16.27% and a net margin of 26.23%. The business had revenue of $340.90 million for the quarter, compared to analyst estimates of $350.36 million. During the same quarter in the previous year, the firm earned $0.99 EPS. The company’s quarterly revenue was up 8.2% compared to the same quarter last year.
TRTN traded down $0.59 on Wednesday, hitting $30.57. The company had a trading volume of 227,812 shares, compared to its average volume of 495,501. The firm has a market cap of $2.36 billion, a P/E ratio of 6.76, a price-to-earnings-growth ratio of 0.65 and a beta of 2.34. Triton International has a 1 year low of $28.20 and a 1 year high of $39.56. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 3.34.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, June 6th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $2.08 annualized dividend and a yield of 6.80%. Triton International’s dividend payout ratio (DPR) is currently 46.02%.
In related news, Director Claude Germain acquired 2,000 shares of Triton International stock in a transaction that occurred on Wednesday, May 8th. The shares were purchased at an average cost of $26.68 per share, for a total transaction of $53,360.00. Following the acquisition, the director now owns 2,000 shares in the company, valued at $53,360. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Pincus (Ganymede-Ii) P. Warburg sold 7,132,790 shares of Triton International stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $31.10, for a total value of $221,829,769.00. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TRTN. JPMorgan Chase & Co. grew its position in Triton International by 14.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 12,115 shares of the company’s stock valued at $403,000 after acquiring an additional 1,493 shares in the last quarter. Bank of New York Mellon Corp grew its position in Triton International by 4.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 288,441 shares of the company’s stock valued at $9,596,000 after acquiring an additional 12,910 shares in the last quarter. BlackRock Inc. grew its position in Triton International by 2.9% in the 3rd quarter. BlackRock Inc. now owns 3,468,727 shares of the company’s stock valued at $115,405,000 after acquiring an additional 96,632 shares in the last quarter. LPL Financial LLC grew its position in Triton International by 10.5% in the 3rd quarter. LPL Financial LLC now owns 51,792 shares of the company’s stock valued at $1,723,000 after acquiring an additional 4,906 shares in the last quarter. Finally, Macquarie Group Ltd. acquired a new position in Triton International in the 3rd quarter valued at about $1,174,000. 68.58% of the stock is owned by institutional investors.
Several research firms have recently commented on TRTN. Zacks Investment Research lowered Triton International from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. ValuEngine lowered Triton International from a “hold” rating to a “sell” rating in a report on Friday, March 15th. Finally, Bank of America lowered Triton International from a “buy” rating to an “underperform” rating and reduced their price target for the stock from $35.00 to $32.00 in a report on Monday, February 4th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Triton International currently has a consensus rating of “Hold” and a consensus price target of $36.25.
About Triton International
Triton International Limited engages in the acquisition, leasing, re-leasing, and sale of various types of intermodal transportation equipment to shipping lines, and freight forwarding companies and manufacturers. It operates in two segments, Equipment Leasing and Equipment Trading. The company primarily leases dry, refrigerated, special, and tank containers; and chassis used for the transportation of intermodal containers, as well as provides container management services.
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