The Triumph Group Inc (TGI) Sees Large Volume Increase After Earnings Beat

The Triumph Group Inc (TGI) Sees Large Volume Increase After Earnings Beat

The aerospace company reported $3.09 earnings per share for the quarter, topping the consensus estimate of $1.40 by $1.69. Triumph Group had a negative net margin of 13.79% and a negative return on equity of 55.68%. The firm had revenue of $919.90 million during the quarter, compared to analysts’ expectations of $923.93 million. During the same quarter in the previous year, the company posted $1.32 EPS. Triumph Group’s revenue was down 13.0% on a year-over-year basis.

Shares of Triumph Group Inc (NYSE:TGI) saw unusually-strong trading volume on Wednesday following a better than expected earnings announcement. Approximately 7,296,279 shares were traded during trading, an increase of 850% from the previous session’s volume of 768,071 shares.The stock last traded at $31.65 and had previously closed at $24.25.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Tuesday, May 30th. Triumph Group’s payout ratio is -0.79%. TGI has been the subject of several recent research reports. Canaccord Genuity reiterated a “hold” rating and set a $30.00 target price on shares of Triumph Group in a research report on Thursday, April 20th. Royal Bank of Canada restated a “buy” rating and issued a $35.00 price objective on shares of Triumph Group in a research report on Tuesday, April 18th. Zacks Investment Research upgraded shares of Triumph Group from a “sell” rating to a “hold” rating in a research report on Wednesday, April 12th. Robert W. Baird upgraded shares of Triumph Group from an “underperform” rating to an “outperform” rating and upped their price objective for the company from $25.00 to $30.00 in a research report on Tuesday, May 16th. Finally, Bank of America Corp cut shares of Triumph Group from a “buy” rating to an “underperform” rating and set a $30.00 price objective for the company. in a research report on Monday, February 6th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $32.50.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue bought a new position in Triumph Group during the first quarter valued at $140,000. Sanders Morris Harris Inc. bought a new position in Triumph Group during the first quarter valued at $1,561,000. Russell Investments Group Ltd. bought a new position in Triumph Group during the fourth quarter valued at $7,918,000. Norges Bank bought a new position in Triumph Group during the fourth quarter valued at $13,720,000. Finally, DekaBank Deutsche Girozentrale boosted its position in Triumph Group by 1.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 142,414 shares of the aerospace company’s stock valued at $3,684,000 after buying an additional 2,100 shares in the last quarter. 98.78% of the stock is currently owned by hedge funds and other institutional investors. The company’s market cap is $1.66 billion. The firm’s 50-day moving average is $26.24 and its 200-day moving average is $26.53.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue bought a new position in Triumph Group during the first quarter valued at $140,000. Sanders Morris Harris Inc. bought a new position in Triumph Group during the first quarter valued at $1,561,000. Russell Investments Group Ltd. bought a new position in Triumph Group during the fourth quarter valued at $7,918,000. Norges Bank bought a new position in Triumph Group during the fourth quarter valued at $13,720,000. Finally, DekaBank Deutsche Girozentrale boosted its position in Triumph Group by 1.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 142,414 shares of the aerospace company’s stock valued at $3,684,000 after buying an additional 2,100 shares in the last quarter. 98.78% of the stock is currently owned by hedge funds and other institutional investors. Triumph Group Company Profile

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