Q2 2024 Earnings Estimate for Trinity Capital Inc. Issued By B. Riley (NASDAQ:TRIN)

Trinity Capital Inc. (NASDAQ:TRIN) – Equities researchers at B. Riley reduced their Q2 2024 earnings estimates for shares of Trinity Capital in a research report issued on Thursday, May 2nd. B. Riley analyst B. Rowe now forecasts that the company will post earnings of $0.51 per share for the quarter, down from their previous estimate of $0.58. B. Riley currently has a “Buy” rating and a $16.00 price target 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 released its quarterly earnings results on Wednesday, May 1st. The company reported $0.52 earnings per share (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 for the quarter, compared to the consensus estimate of $50.09 million. During the same quarter last year, the company posted $0.52 EPS.

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 issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $15.50.

Trinity Capital Stock Performance

TRIN opened at $14.63 on Monday. The stock has a market cap of $723.89 million, a PE ratio of 9.09 and a beta of 0.60. Trinity Capital has a 1 year low of $11.32 and a 1 year high of $15.44. The stock’s 50 day simple moving average is $14.66 and its 200-day simple moving average is $14.51. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.08.

Trinity Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.51 per share. This is a positive change from Trinity Capital’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $2.04 annualized dividend and a dividend yield of 13.94%. Trinity Capital’s dividend payout ratio (DPR) is presently 126.71%.

Insider Activity

In other Trinity Capital news, CEO Kyle Steven Brown bought 3,354 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were bought at an average price of $14.91 per share, for a total transaction of $50,008.14. Following the completion of the acquisition, the chief executive officer now owns 821,477 shares of the company’s stock, valued at $12,248,222.07. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.75% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Trinity Capital

Hedge funds and other institutional investors have recently made changes to their positions in the company. Legacy Capital Wealth Partners LLC bought a new position in Trinity Capital in the fourth quarter valued at about $1,487,000. Quadrature Capital Ltd acquired a new stake in shares of Trinity Capital during the 3rd quarter worth approximately $1,241,000. Barclays PLC bought a new stake in shares of Trinity Capital during the third quarter worth approximately $1,174,000. Cornerstone Wealth Management LLC bought a new stake in shares of Trinity Capital during the fourth quarter worth approximately $172,000. Finally, Stratos Wealth Partners LTD. acquired a new position in Trinity Capital in the fourth quarter valued at approximately $154,000. 24.62% of the stock is owned by institutional investors and hedge funds.

Trinity Capital Company Profile

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.