Brokerages Expect Trecora Resources (TREC) Will Post Quarterly Sales of $64.72 Million
Equities analysts expect that Trecora Resources (NYSE:TREC) will announce sales of $64.72 million for the current fiscal 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 posted sales of $57.14 million in the same quarter last year, which would indicate a positive year over year growth rate of 13.3%. The firm is scheduled to announce its next quarterly earnings report on Thursday, November 2nd.
On average, analysts expect that Trecora Resources will report full year sales of $64.72 million for the current financial year, with estimates ranging from $236.27 million to $245.40 million. For the next fiscal year, analysts expect that the firm will report sales of $263.68 million per share, with estimates ranging from $250.86 million to $276.50 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover 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 the consensus estimate of $0.07 by ($0.04). Trecora Resources had a return on equity of 3.94% and a net margin of 0.97%. The firm had revenue of $62.12 million for the quarter, compared to analysts’ expectations of $56.68 million.
A number of research firms have recently commented on TREC. B. Riley restated a “buy” rating and set a $17.00 price objective on shares of Trecora Resources in a report on Monday, August 7th. BidaskClub downgraded Trecora Resources from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. TheStreet upgraded Trecora Resources from a “c” rating to a “b-” rating in a report on Monday, July 17th. Finally, Zacks Investment Research downgraded Trecora Resources from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $15.00.
In related news, major shareholder Athel Fahad Mohammed Saleh Al sold 20,000 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $12.25, for a total transaction of $245,000.00. Following the completion of the sale, the insider now directly owns 4,137,044 shares of the company’s stock, valued at approximately $50,678,789. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 210,000 shares of company stock valued at $2,582,400. 6.60% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its position in Trecora Resources by 8.5% during the 1st quarter. Wellington Management Group LLP now owns 2,873,014 shares of the basic materials company’s stock worth $31,890,000 after purchasing an additional 225,893 shares during the period. Teachers Advisors LLC boosted its position in Trecora Resources by 6.2% during the 4th quarter. Teachers Advisors LLC now owns 31,797 shares of the basic materials company’s stock worth $440,000 after purchasing an additional 1,846 shares during the period. Legion Partners Asset Management LLC purchased a new stake in Trecora Resources during the 1st quarter worth $157,000. Vanguard Group Inc. boosted its position in Trecora Resources by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 558,376 shares of the basic materials company’s stock worth $6,198,000 after purchasing an additional 13,585 shares during the period. Finally, Argent Capital Management LLC boosted its position in Trecora Resources by 2.4% during the 1st quarter. Argent Capital Management LLC now owns 194,525 shares of the basic materials company’s stock worth $2,159,000 after purchasing an additional 4,500 shares during the period. 41.55% of the stock is owned by hedge funds and other institutional investors.
Trecora Resources (TREC) opened at 12.85 on Friday. Trecora Resources has a 52-week low of $9.75 and a 52-week high of $14.80. The stock has a market capitalization of $312.29 million, a price-to-earnings ratio of 75.59 and a beta of 1.56. The stock’s 50 day moving average price is $12.19 and its 200 day moving average price is $11.50.
Trecora Resources Company Profile
Trecora Resources (TREC) is a provider of high-purity specialty hydrocarbons and waxes. TREC owns and operates a facility located in southeast Texas, just north of Beaumont, which specializes in high-purity hydrocarbons and other petrochemical manufacturing. The Company operates through two segments: specialty petrochemical products and specialty synthetic waxes.
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