Trinity Industries (TRN) who has a wind tower business that generates about 10% of revenues reported strong results after the bell today, posting earnings of 1.06/share which smashed estimates of .83/share. Revenues came in below estimates at 945.5 million (about 20 million below) but shares are up after hours anyway on that EPS number.
Last Sunday, Barrons said TRN could hit $48/share on demand for wind generated electricity.
Trinity’s wind-energy backlog ballooned 128 percent to nearly $1.6 billion in the first quarter, and as its backlog expands, so will its valuation, Barron’s said in its July 21 edition.
“We believe investors should focus on Trinity’s diversification and wind-energy catalysts,” wrote KeyBanc analyst Steve Barger, who has a $48 price target on the stock.