Trecora Resources (TREC) Expected to Post Quarterly Sales of $65.46 Million
Analysts predict that Trecora Resources (NYSE:TREC) will post sales of $65.46 million for the current quarter, according to Zacks. Two analysts have issued estimates for Trecora Resources’ earnings. The highest sales estimate is $66.60 million and the lowest is $64.32 million. Trecora Resources posted sales of $57.14 million during the same quarter last year, which suggests a positive year-over-year growth rate of 14.6%. The firm is expected to report its next earnings report on Thursday, November 2nd.
On average, analysts expect that Trecora Resources will report full-year sales of $65.46 million for the current fiscal year, with estimates ranging from $244.00 million to $245.40 million. For the next year, analysts anticipate that the company will post sales of $267.25 million per share, with estimates ranging from $258.00 million to $276.50 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Trecora Resources.
Trecora Resources (NYSE:TREC) last issued its quarterly earnings results on Thursday, August 3rd. The basic materials company reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ 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 company had revenue of $62.12 million for the quarter, compared to analyst estimates of $56.68 million.
TREC has been the topic of a number of analyst reports. Zacks Investment Research cut shares of Trecora Resources from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. TheStreet raised shares of Trecora Resources from a “c” rating to a “b-” rating in a research note on Monday, July 17th. BidaskClub lowered shares of Trecora Resources from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Finally, B. Riley restated a “buy” rating and issued a $17.00 target price on shares of Trecora Resources in a research report on Monday, August 7th. Two investment analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $15.00.
In other news, major shareholder Athel Fahad Mohammed Saleh Al sold 10,000 shares of the stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $12.20, for a total value of $122,000.00. Following the completion of the transaction, the insider now owns 4,157,044 shares of the company’s stock, valued at $50,715,936.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 486,616 shares of company stock valued at $6,132,140 in the last quarter. 6.60% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Citigroup Inc. increased its stake in shares of Trecora Resources by 576.4% during the second quarter. Citigroup Inc. now owns 9,185 shares of the basic materials company’s stock valued at $104,000 after acquiring an additional 7,827 shares during the period. American International Group Inc. raised its holdings in Trecora Resources by 7.1% during the first quarter. American International Group Inc. now owns 12,221 shares of the basic materials company’s stock worth $136,000 after purchasing an additional 813 shares in the last quarter. Alliancebernstein L.P. acquired a new stake in Trecora Resources in the second quarter worth approximately $147,000. Legion Partners Asset Management LLC acquired a new stake in Trecora Resources in the first quarter worth approximately $157,000. Finally, The Manufacturers Life Insurance Company lifted its position in Trecora Resources by 0.3% in the second quarter. The Manufacturers Life Insurance Company now owns 16,248 shares of the basic materials company’s stock worth $183,000 after purchasing an additional 54 shares during the period. Institutional investors and hedge funds own 41.55% of the company’s stock.
Shares of Trecora Resources (NYSE TREC) traded down 0.38% during trading on Wednesday, reaching $13.25. 13,651 shares of the company’s stock traded hands. Trecora Resources has a 1-year low of $9.75 and a 1-year high of $14.80. The company has a 50 day moving average of $12.61 and a 200-day moving average of $11.63. The company has a market capitalization of $322.01 million, a price-to-earnings ratio of 77.94 and a beta of 1.58.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Trecora Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trecora Resources and related companies with MarketBeat.com's FREE daily email newsletter.