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Trinity Capital (TRIN) Soars 6.6%: Is Further Upside Left in the Stock?

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Trinity Capital (TRIN) shares rallied 6.6% in the last trading session to close at $18.64. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 0.1% gain over the past four weeks.

Trinity Capital witnessed a rise in share price for the fourth consecutive day and touched a new 52-week high on the last trading day. Trinity Capital has announced an 11.1% to 40 cents per share. The company also concurrently declared a new supplemental cash dividend of 15 cents per share in the first quarter, with the plan to announce equal special dividends in the remaining quarters of 2022.

Also, investors are optimistic on finance sector stocks on the back of rising interest rates. Thus, these favorable developments have possibly led the investors to be bullish on the stock, which drove Trinity Capital higher.

This business development company is expected to post quarterly earnings of $0.44 per share in its upcoming report, which represents a year-over-year change of +41.9%. Revenues are expected to be $25.09 million, up 44.8% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Trinity Capital, the consensus EPS estimate for the quarter has been revised 8.8% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on TRIN going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Trinity Capital is part of the Zacks Financial - SBIC & Commercial Industry industry. PennantPark (PNNT), another stock in the same industry, closed the last trading session 0.9% lower at $7.56. PNNT has returned -0.9% in the past month.

For PennantPark , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.17. This represents a change of +30.8% from what the company reported a year ago. PennantPark currently has a Zacks Rank of #2 (Buy).


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