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Here's Why You Should Hold Triton (TRTN) in Your Portfolio
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Triton International Limited is benefiting from its shareholder-friendly measures. These initiatives instill investors’ confidence and positively impact earnings per share. Notably, shares of Triton have gained 14.4% so far this year against 2.8% decline of the industry it belongs to.
Image Source: Zacks Investment Research
We are impressed with Triton's efforts to reward its shareholders through dividends and buybacks. Concurrent with its third-quarter 2022 earnings release, Triton’s board of directors increased its quarterly cash dividend from 65 cents per share to 70 cents, indicating a dividend hike of almost 8%. The company repurchased 3.2 million shares during the third quarter and repurchased an additional 0.9 million shares through Oct 26, 2022. In November, Triton's board boosted its share buyback plan. Such shareholder-friendly moves indicate the company’s commitment to creating value for shareholders and underline its confidence in its business.
Gradual increases in trade volumes and container demand bode well for the company. Evidently, earnings per share in the first nine months of 2022 increased 31.7% year over year, owing to strong trade volumes and container demand.
On the flip side, TRTN’s bottom-line growth is limited by high administrative expenses. Administrative expenses also increased in the first nine months of 2022, leading to a 5.6% uptick in operating costs.
Some better-ranked stocks from the broader Zacks Transportation sector are as follows:
Covenant Logistics (CVLG - Free Report) : CVLG offers a portfolio of transportation and logistics services, including asset-based expedited, dedicated and irregular route truckload capacity, besides asset-light warehousing, transportation management and freight brokerage capability.
CVLG currently sports a Zacks Rank #1. The gradually improving freight market scenario is a tailwind for Covenant. CVLG’s cost-control efforts are also appreciated. The Zacks Consensus Estimate for 2022 earnings has been revised 10.1% upward in the past 60 days.
Teekay Tankers (TNK - Free Report) : TNK is well-served by the increase in tanker rates. A gradual ramp-up in economic activities also bodes well. However, high fuel costs are weighing on the bottom line.
Teekay Tankers currently flaunts a Zacks Rank #1. TNK’s shares have soared 171% in a year. Over the past 60 days, the Zacks Consensus Estimate for 2022 earnings has moved 87.6% north.
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Here's Why You Should Hold Triton (TRTN) in Your Portfolio
Triton International Limited is benefiting from its shareholder-friendly measures. These initiatives instill investors’ confidence and positively impact earnings per share. Notably, shares of Triton have gained 14.4% so far this year against 2.8% decline of the industry it belongs to.
Image Source: Zacks Investment Research
We are impressed with Triton's efforts to reward its shareholders through dividends and buybacks. Concurrent with its third-quarter 2022 earnings release, Triton’s board of directors increased its quarterly cash dividend from 65 cents per share to 70 cents, indicating a dividend hike of almost 8%. The company repurchased 3.2 million shares during the third quarter and repurchased an additional 0.9 million shares through Oct 26, 2022. In November, Triton's board boosted its share buyback plan. Such shareholder-friendly moves indicate the company’s commitment to creating value for shareholders and underline its confidence in its business.
Gradual increases in trade volumes and container demand bode well for the company. Evidently, earnings per share in the first nine months of 2022 increased 31.7% year over year, owing to strong trade volumes and container demand.
On the flip side, TRTN’s bottom-line growth is limited by high administrative expenses. Administrative expenses also increased in the first nine months of 2022, leading to a 5.6% uptick in operating costs.
Zacks Rank and Stocks to Consider
Currently, Triton carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some better-ranked stocks from the broader Zacks Transportation sector are as follows:
Covenant Logistics (CVLG - Free Report) : CVLG offers a portfolio of transportation and logistics services, including asset-based expedited, dedicated and irregular route truckload capacity, besides asset-light warehousing, transportation management and freight brokerage capability.
CVLG currently sports a Zacks Rank #1. The gradually improving freight market scenario is a tailwind for Covenant. CVLG’s cost-control efforts are also appreciated. The Zacks Consensus Estimate for 2022 earnings has been revised 10.1% upward in the past 60 days.
Teekay Tankers (TNK - Free Report) : TNK is well-served by the increase in tanker rates. A gradual ramp-up in economic activities also bodes well. However, high fuel costs are weighing on the bottom line.
Teekay Tankers currently flaunts a Zacks Rank #1. TNK’s shares have soared 171% in a year. Over the past 60 days, the Zacks Consensus Estimate for 2022 earnings has moved 87.6% north.