$64.72 Million in Sales Expected for Trecora Resources (TREC) This Quarter
Wall Street brokerages forecast that Trecora Resources (NYSE:TREC) will report $64.72 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Trecora Resources’ earnings, with the highest sales estimate coming in at $66.60 million and the lowest estimate coming in at $62.85 million. Trecora Resources reported sales of $57.14 million during the same quarter last year, which would suggest a positive year over year growth rate of 13.3%. The company is expected to announce its next quarterly earnings results on Thursday, November 2nd.
On average, analysts expect that Trecora Resources will report full-year sales of $64.72 million for the current fiscal year, with estimates ranging from $236.27 million to $245.40 million. For the next year, analysts expect that the business will post sales of $263.68 million per share, with estimates ranging from $250.86 million to $276.50 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Trecora Resources.
Trecora Resources (NYSE:TREC) last released its quarterly earnings results on Thursday, August 3rd. The basic materials company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by $0.04. Trecora Resources had a return on equity of 3.95% and a net margin of 0.97%. The company had revenue of $62.12 million for the quarter, compared to the consensus estimate of $56.68 million.
A number of equities research analysts have commented on TREC shares. Singular Research decreased their price objective on shares of Trecora Resources from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, April 27th. B. Riley reissued a “buy” rating and set a $17.50 price objective on shares of Trecora Resources in a report on Wednesday, May 3rd. Zacks Investment Research raised shares of Trecora Resources from a “strong sell” rating to a “hold” rating in a report on Saturday, May 6th. TheStreet raised shares of Trecora Resources from a “c” rating to a “b-” rating in a report on Monday, July 17th. Finally, BidaskClub lowered shares of Trecora Resources from a “sell” rating to a “strong sell” rating in a report on Saturday. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $15.00.
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In related news, Director Pamela R. Butcher acquired 2,750 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were purchased at an average price of $11.31 per share, with a total value of $31,102.50. Following the acquisition, the director now directly owns 2,500 shares in the company, valued at $28,275. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Mark D. Williamson sold 10,000 shares of the stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $10.90, for a total transaction 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 disclosure for this sale can be found here. 6.60% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of TREC. Wellington Management Group LLP raised its stake 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 in the last quarter. Balter Liquid Alternatives LLC raised its position in shares of Trecora Resources by 131.7% in the first quarter. Balter Liquid Alternatives LLC now owns 94,454 shares of the basic materials company’s stock valued at $1,048,000 after buying an additional 53,683 shares during the period. Friedberg Investment Management acquired a new position in shares of Trecora Resources during the first quarter valued at about $488,000. Ironwood Investment Management LLC acquired a new position in shares of Trecora Resources during the second quarter valued at about $375,000. Finally, Renaissance Technologies LLC raised its position in shares of Trecora Resources by 12.7% in the first quarter. Renaissance Technologies LLC now owns 249,500 shares of the basic materials company’s stock valued at $2,769,000 after buying an additional 28,100 shares during the period. 35.79% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Trecora Resources (NYSE:TREC) opened at 12.30 on Wednesday. Trecora Resources has a 52-week low of $9.75 and a 52-week high of $14.80. The firm’s 50 day moving average is $11.48 and its 200-day moving average is $11.55. The company has a market capitalization of $298.30 million, a P/E ratio of 22.40 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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