Analysts Set Expectations for Trinity Capital Inc.’s Q2 2024 Earnings (NASDAQ:TRIN)

Trinity Capital Inc. (NASDAQ:TRIN) – Analysts at B. Riley lowered their Q2 2024 EPS estimates for shares of Trinity Capital in a research note issued on Thursday, May 2nd. B. Riley analyst B. Rowe now expects that the company will post earnings per share of $0.51 for the quarter, down from their previous estimate of $0.58. B. Riley has a “Buy” rating and a $16.00 price objective on the stock. The consensus estimate for Trinity Capital’s current full-year earnings is $2.14 per share. B. Riley also issued estimates for Trinity Capital’s Q3 2024 earnings at $0.53 EPS, Q4 2024 earnings at $0.55 EPS and FY2024 earnings at $2.13 EPS.

Trinity Capital (NASDAQ:TRIN) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.03). Trinity Capital had a return on equity of 16.73% and a net margin of 36.12%. The company had revenue of $50.45 million during the quarter, compared to analysts’ expectations of $50.09 million. During the same period last year, the company earned $0.52 earnings per share.

Separately, UBS Group upped their price objective on Trinity Capital from $16.00 to $16.50 and gave the company a “buy” rating in a research note on Monday, March 18th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.50.

Trinity Capital Trading Up 1.3 %

Shares of TRIN stock opened at $14.82 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.06 and a current ratio of 0.06. The company has a market capitalization of $733.29 million, a price-to-earnings ratio of 9.20 and a beta of 0.60. Trinity Capital has a 52-week low of $11.32 and a 52-week high of $15.44. The company has a 50-day simple moving average of $14.67 and a two-hundred day simple moving average of $14.52.

Trinity Capital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.51 per share. This is an increase from Trinity Capital’s previous quarterly dividend of $0.50. This represents a $2.04 dividend on an annualized basis and a dividend yield of 13.77%. The ex-dividend date of this dividend was Wednesday, March 27th. Trinity Capital’s payout ratio is currently 126.71%.

Insider Activity

In related news, CEO Kyle Steven Brown bought 3,354 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average cost of $14.91 per share, with a total value of $50,008.14. Following the completion of the purchase, the chief executive officer now owns 821,477 shares of the company’s stock, valued at approximately $12,248,222.07. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.75% of the company’s stock.

Institutional Trading of Trinity Capital

Several institutional investors and hedge funds have recently made changes to their positions in TRIN. Tucker Asset Management LLC purchased a new stake in shares of Trinity Capital during the 4th quarter worth about $45,000. Tower Research Capital LLC TRC lifted its stake in Trinity Capital by 3,460.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,560 shares of the company’s stock worth $52,000 after acquiring an additional 3,460 shares in the last quarter. Avior Wealth Management LLC grew its stake in Trinity Capital by 76.9% during the 4th quarter. Avior Wealth Management LLC now owns 4,119 shares of the company’s stock worth $60,000 after purchasing an additional 1,791 shares in the last quarter. Cape Investment Advisory Inc. acquired a new stake in Trinity Capital in the fourth quarter valued at $107,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in Trinity Capital during the third quarter worth approximately $126,000. 24.62% of the stock is currently owned by institutional investors.

About Trinity Capital

Trinity Capital Inc is a business development company. It is a venture capital firm specializing in venture debt to growth stage companies looking for loans and/or equipment financing. Trinity Capital Inc was founded in 2019 is based in Phoenix, Arizona with additional offices in the United States.