Brokers expect Trex Company, Inc. (NYSE:TREX – Get Rating) to report earnings per share (EPS) of $0.68 for the current fiscal quarter, reports Zacks Investment Research. Six analysts provided earnings estimates for Trex, with estimates ranging from $0.64 to $0.70. Trex posted earnings of $0.53 per share in the same quarter last year, indicating a positive growth rate of 28.3% year over year. The company is expected to release its next quarterly earnings report on Monday, January 1.
On average, analysts expect Trex to report annual earnings of $2.49 per share for the current fiscal year, with EPS estimates ranging from $2.37 to $2.57. For the next fiscal year, analysts expect the company to report earnings of $2.73 per share, with EPS estimates ranging from $2.05 to $2.94. Zacks earnings per share averages are an average based on a survey of research companies that track Trex.
Trex (NYSE:TREX – Get Rating) last reported quarterly results on Monday, May 9. The construction company reported earnings per share (EPS) of $0.62 for the quarter, beating the consensus estimate of $0.54 by $0.08. The company posted revenue of $339.23 million in the quarter, versus analyst estimates of $326.67 million. Trex had a net margin of 17.90% and a return on equity of 38.31%. The company’s revenue increased 38.2% year over year. In the same quarter of the previous year, the company achieved EPS of $0.42.
TREX has been the subject of a number of research analyst reports. StockNews.com began covering Trex in a report on Thursday, March 31. They set a “hold” rating for the company. Robert W. Baird lowered his target price on Trex from $120.00 to $95.00 in a Tuesday, March 1 report. Stifel Nicolaus lowered his price target on Trex from $135.00 to $120.00 and set a “buy” rating for the company in a Tuesday, March 1 report. DA Davidson reaffirmed a “neutral” rating on Trex shares in a Tuesday, March 1 report. Finally, BNP Paribas upgraded Trex from an “underperforming” rating to a “neutral” rating and set a $75.00 price target for the company in a Friday, May 20 research note. Three equity research analysts gave the stock a sell rating, eleven gave the stock a hold rating and four gave the stock a buy rating. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $91.39.
Shares of NYSE TREX traded down $0.26 at midday Friday, hitting $64.65. 678,531 shares of the company were traded, against an average volume of 1,296,213. Trex has a 12-month low of $51.76 and a 12-month high of $140.98. The company’s 50-day moving average price is $62.34 and its 200-day moving average price is $90.57. The company has a market capitalization of $7.32 billion, a PE ratio of 32.16, a growth price-earnings ratio of 1.47 and a beta of 1.44.
Hedge funds have recently increased or reduced their holdings in the stock. Amundi Pioneer Asset Management Inc. increased its stake in Trex by 50.5% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 337,153 shares of the construction company worth $20,742,000 after purchasing an additional 113,161 shares during the period. Morgan Stanley increased its holdings in Trex by 49.5% in the second quarter. Morgan Stanley now owns 414,757 shares of the construction company worth $42,393,000 after purchasing an additional 137,260 shares during the period. Credit Suisse AG increased its holdings in Trex by 6.4% in the third quarter. Credit Suisse AG now owns 142,822 shares of the construction company worth $14,558,000 after purchasing an additional 8,609 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Trex by 5.2% in the third quarter. The Manufacturers Life Insurance Company now owns 132,864 shares of the construction company worth $13,543,000 after purchasing an additional 6,511 shares during the period. Finally, Rockefeller Capital Management LP increased its holdings in Trex by 28.8% in the third quarter. Rockefeller Capital Management LP now owns 479 shares of the construction company worth $48,000 after buying 107 additional shares during the period. 93.63% of the shares are held by institutional investors.
Trex Company Profile (Get a rating)
Trex Company, Inc. manufactures and distributes decking, railing, and outdoor living products and accessories for the residential and commercial markets in the United States. The Company operates in two segments, Trex Residential and Trex Commercial. It offers decking products under the Trex Transcend, Trex Select, and Trex Enhance names for protection against fading, stains, mildew, and scratches; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a dimmable LED deck light for use on posts, floors and steps.
Get a Free Copy of Zacks Research Report on Trex (TREX)
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in Trex right now?
Before you consider Trex, you’ll want to hear this.
MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Trex wasn’t on the list.
Although Trex currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here