Brokers expect Trex Company, Inc. (NYSE:TREX – Get Rating) to report earnings per share (EPS) of $0.67 for the current quarter, reports Zacks Investment Research. Five analysts released Trex earnings estimates, with the lowest EPS estimate at $0.64 and the highest at $0.70. Trex posted earnings of $0.53 per share in the same quarter last year, suggesting a positive year-over-year growth rate of 26.4%. The company is due to announce its next quarterly earnings report on Monday, January 1.
According to Zacks, analysts expect Trex to report annual earnings of $2.48 per share for the current year, with EPS estimates ranging from $2.37 to $2.56. 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 $2.96. Zacks earnings per share averages are an average based on a survey of research companies that track Trex.
Trex (NYSE:TREX – Get Rating) last released its results on Monday, May 9. The construction company reported EPS of $0.62 for the quarter, beating the consensus estimate of $0.54 by $0.08. Trex had a net margin of 17.90% and a return on equity of 38.31%. The company posted revenue of $339.23 million in the quarter, compared to $326.67 million expected by analysts. In the same quarter last year, the company achieved EPS of $0.42. The company’s revenue increased 38.2% year over year.
Several brokerages have recently commented on TREX. UBS Group began covering Trex shares in a research note on Wednesday, January 19. They issued a “neutral” rating and a price target of $111.00 for the company. Stifel Nicolaus cut his price target on Trex shares from $135.00 to $120.00 and set a “buy” rating for the company in a Tuesday, March 1 research note. BNP Paribas downgraded Trex shares from a “neutral” rating to an “underperforming” rating and set a price target of $81.00 for the company. in a Monday, March 28 research note. TheStreet upgraded Trex shares from a ‘b’ to a ‘c+’ rating in a Monday, February 28 research note. Finally, Exane BNP Paribas downgraded Trex shares from a “neutral” rating to an “underperforming” rating and set a target price of $81.00 for the company. in a research report on Monday, March 28. Five research analysts rated the stock with a sell rating, nine gave the company’s stock a hold rating and five gave the company’s stock a buy rating. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $94.17.
Several hedge funds and other institutional investors have recently changed their holdings of TREX. Amundi Pioneer Asset Management Inc. increased its holdings of Trex shares 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 buying an additional 113,161 shares last quarter. 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 valued at $42,393,000 after purchasing an additional 137,260 shares during the period. Truist Financial Corp increased its holdings in Trex by 2.1% in the third quarter. Truist Financial Corp now owns 10,457 shares of the construction company valued at $1,067,000 after purchasing an additional 215 shares during the period. Russell Investments Group Ltd. increased its holdings in Trex by 0.5% in the third quarter. Russell Investments Group Ltd. now owns 67,293 shares of the construction company valued at $6,857,000 after purchasing an additional 337 shares during the period. Finally, Barclays PLC increased its stake in Trex by 29.3% in the third quarter. Barclays PLC now owns 143,745 shares in the construction company valued at $14,652,000 after buying a further 32,588 shares during the period. Institutional investors and hedge funds hold 93.63% of the company’s shares.
NYSE TREX shares opened at $62.80 on Friday. Trex has a 52-week low of $51.76 and a 52-week high of $140.98. The company has a 50-day moving average price of $66.00 and a 200-day moving average price of $96.55. The stock has a market cap of $7.11 billion, a price-to-earnings ratio of 31.24, a growth price-to-earnings ratio of 1.27 and a beta of 1.44.
About Trex (Get an evaluation)
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.
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