Zacks: Brokerages Anticipate Trecora Resources (NYSE:TREC) Will Announce Quarterly Sales of $56.68 Million
Wall Street brokerages expect Trecora Resources (NYSE:TREC) to report $56.68 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Trecora Resources’ earnings. The lowest sales estimate is $56.50 million and the highest is $56.86 million. Trecora Resources reported sales of $48.85 million during the same quarter last year, which indicates a positive year over year growth rate of 16%. The business is expected to announce its next earnings report on Thursday, August 3rd.
According to Zacks, analysts expect that Trecora Resources will report full year sales of $56.68 million for the current fiscal year, with estimates ranging from $236.27 million to $239.50 million. For the next fiscal year, analysts forecast that the business will report sales of $257.18 million per share, with estimates ranging from $250.86 million to $263.50 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Trecora Resources.
Trecora Resources (NYSE:TREC) last issued its earnings results on Thursday, May 4th. The basic materials company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.04. Trecora Resources had a return on equity of 5.62% and a net margin of 6.24%. The business had revenue of $55.54 million for the quarter, compared to analyst estimates of $55.73 million.
TREC has been the topic of several research reports. Zacks Investment Research upgraded Trecora Resources from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 6th. Singular Research dropped their price target on Trecora Resources from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, April 27th. B. Riley reiterated a “buy” rating and set a $17.50 price target on shares of Trecora Resources in a research report on Monday, May 8th. Finally, TheStreet upgraded Trecora Resources from a “c” rating to a “b-” rating in a research report on Monday. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $15.13.
In related news, VP Mark D. Williamson sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $10.90, for a total value of $109,000.00. Following the sale, the vice president now directly owns 24,277 shares in the company, valued at approximately $264,619.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John Richard Townsend sold 14,145 shares of the firm’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $11.33, for a total value of $160,262.85. The disclosure for this sale can be found here. 6.60% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in Trecora Resources by 2.8% in the first quarter. Geode Capital Management LLC now owns 142,410 shares of the basic materials company’s stock valued at $1,580,000 after buying an additional 3,889 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Trecora Resources by 2.5% in the first quarter. Vanguard Group Inc. now owns 558,376 shares of the basic materials company’s stock worth $6,198,000 after buying an additional 13,585 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Trecora Resources by 8.5% in the first quarter. Wellington Management Group LLP now owns 2,873,014 shares of the basic materials company’s stock worth $31,890,000 after buying an additional 225,893 shares during the last quarter. Argent Capital Management LLC raised its position in shares of Trecora Resources by 2.4% in the first quarter. Argent Capital Management LLC now owns 194,525 shares of the basic materials company’s stock worth $2,159,000 after buying an additional 4,500 shares during the last quarter. Finally, American International Group Inc. raised its position in shares of Trecora Resources by 7.1% in the first quarter. American International Group Inc. now owns 12,221 shares of the basic materials company’s stock worth $136,000 after buying an additional 813 shares during the last quarter. Hedge funds and other institutional investors own 35.65% of the company’s stock.
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Shares of Trecora Resources (TREC) traded up 0.42% during midday trading on Thursday, hitting $12.05. The stock had a trading volume of 7,727 shares. Trecora Resources has a one year low of $9.75 and a one year high of $14.80. The stock has a 50 day moving average of $11.37 and a 200-day moving average of $11.72. The company has a market cap of $292.24 million, a P/E ratio of 21.95 and a beta of 1.56.
Trecora Resources Company Profile
Trecora Resources is engaged in manufacturing of specialty petrochemical products and synthetic waxes, and providing custom processing services. The Company operates through two segments: manufacturing of various specialty petrochemical products and manufacturing of specialty synthetic waxes. The specialty petrochemical products segment operates through South Hampton Resources, Inc (SHR).
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