Triumph Group, Inc. (NYSE:TGI) Releases Earnings Results, Misses Expectations By $0.62 EPS
Triumph Group, Inc. (NYSE:TGI) issued its quarterly earnings data on Wednesday. The aerospace company reported $0.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.86 by $0.62, Bloomberg Earnings reports. Triumph Group had a negative net margin of 1.22% and a positive return on equity of 32.58%. The firm had revenue of $781.70 million during the quarter, compared to analyst estimates of $804.26 million. During the same period in the previous year, the firm posted $1.04 earnings per share. The company’s quarterly revenue was down 12.5% compared to the same quarter last year.
Triumph Group (TGI) traded down 14.71% on Wednesday, reaching $28.40. The company had a trading volume of 1,021,001 shares. The firm’s market capitalization is $1.41 billion. The stock’s 50-day moving average price is $32.22 and its 200 day moving average price is $27.65. Triumph Group has a 52-week low of $19.65 and a 52-week high of $39.92.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a $0.04 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.16 dividend on an annualized basis and a yield of 0.48%. Triumph Group’s dividend payout ratio (DPR) is presently -18.18%.
A number of hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can increased its stake in shares of Triumph Group by 8.0% in the first quarter. Bank of Montreal Can now owns 5,252 shares of the aerospace company’s stock valued at $135,000 after buying an additional 391 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Triumph Group during the second quarter valued at about $171,000. State of Alaska Department of Revenue bought a new stake in shares of Triumph Group during the first quarter valued at about $140,000. FNY Managed Accounts LLC bought a new stake in shares of Triumph Group during the first quarter valued at about $154,000. Finally, KCG Holdings Inc. bought a new stake in shares of Triumph Group during the first quarter valued at about $201,000. Hedge funds and other institutional investors own 99.75% of the company’s stock.
TGI has been the subject of a number of research reports. Zacks Investment Research raised Triumph Group from a “sell” rating to a “hold” rating in a research note on Wednesday, April 12th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Triumph Group in a research note on Tuesday, April 18th. Canaccord Genuity reaffirmed a “hold” rating and issued a $30.00 price objective on shares of Triumph Group in a research note on Thursday, April 20th. Jefferies Group LLC set a $29.00 price objective on Triumph Group and gave the company a “buy” rating in a research note on Saturday, May 6th. Finally, Robert W. Baird raised Triumph Group from an “underperform” rating to an “outperform” rating and lifted their price objective for the company from $25.00 to $30.00 in a research note on Tuesday, May 16th. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $32.50.
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About Triumph Group
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