SunTrust Banks Weighs in on Triton International Limited’s Q3 2017 Earnings (TRTN)
Triton International Limited (NASDAQ:TRTN) – Equities researchers at SunTrust Banks cut their Q3 2017 earnings estimates for Triton International Limited in a report released on Friday. SunTrust Banks analyst D. Mewhirter now expects that the company will post earnings per share of $0.73 for the quarter, down from their previous forecast of $0.74. SunTrust Banks has a “Buy” rating and a $40.00 price objective on the stock. SunTrust Banks also issued estimates for Triton International Limited’s Q4 2018 earnings at $1.01 EPS.
Several other equities analysts have also issued reports on the stock. Bank of America Corporation reissued a “buy” rating and set a $36.00 price objective (up from $32.00) on shares of Triton International Limited in a report on Monday, May 15th. Cowen and Company reissued an “outperform” rating and set a $40.00 price objective on shares of Triton International Limited in a report on Monday, May 15th. Zacks Investment Research raised shares of Triton International Limited from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Thursday, July 27th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $35.00 price objective on shares of Triton International Limited in a report on Thursday, August 10th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $37.50.
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Triton International Limited (NASDAQ:TRTN) opened at 31.87 on Monday. The company’s 50-day moving average price is $35.67 and its 200-day moving average price is $30.39. Triton International Limited has a one year low of $11.50 and a one year high of $38.19. The stock has a market cap of $2.38 billion and a P/E ratio of 44.95.
Triton International Limited (NASDAQ:TRTN) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $281.90 million for the quarter, compared to analysts’ expectations of $281.09 million. During the same quarter in the prior year, the firm earned $0.88 EPS. The firm’s revenue for the quarter was up 78.1% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 1st will be paid a $0.45 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $1.80 annualized dividend and a yield of 5.65%.
In other Triton International Limited news, insider Kevin Valentine sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $32.50, for a total value of $65,000.00. Following the completion of the sale, the insider now directly owns 63,705 shares in the company, valued at $2,070,412.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 6,000 shares of company stock valued at $204,360.
Several large investors have recently bought and sold shares of the company. Foresters Investment Management Company Inc. lifted its stake in shares of Triton International Limited by 11.4% during the first quarter. Foresters Investment Management Company Inc. now owns 1,290,800 shares of the company’s stock worth $33,290,000 after buying an additional 131,900 shares during the period. State Street Corp lifted its stake in shares of Triton International Limited by 8.6% during the second quarter. State Street Corp now owns 814,650 shares of the company’s stock worth $27,244,000 after buying an additional 64,662 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Triton International Limited by 25.1% during the second quarter. Ameriprise Financial Inc. now owns 800,695 shares of the company’s stock worth $26,776,000 after buying an additional 160,814 shares during the period. Teachers Advisors LLC lifted its stake in shares of Triton International Limited by 391.6% during the first quarter. Teachers Advisors LLC now owns 478,942 shares of the company’s stock worth $12,352,000 after buying an additional 381,523 shares during the period. Finally, Kempen Capital Management N.V. acquired a new stake in shares of Triton International Limited during the second quarter worth $12,404,000.
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