$0.09 Earnings Per Share Expected for Trecora Resources (TREC) This Quarter
Equities analysts expect Trecora Resources (NYSE:TREC) to post $0.09 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Trecora Resources’ earnings, with the lowest EPS estimate coming in at $0.06 and the highest estimate coming in at $0.11. Trecora Resources reported earnings per share of $0.07 during the same quarter last year, which suggests a positive year-over-year growth rate of 28.6%. The company is scheduled to report its next quarterly earnings report on Wednesday, March 7th.
According to Zacks, analysts expect that Trecora Resources will report full year earnings of $0.25 per share for the current year, with EPS estimates ranging from $0.22 to $0.27. For the next year, analysts anticipate that the company will post earnings of $0.73 per share, with EPS estimates ranging from $0.70 to $0.75. Zacks’ EPS calculations are an average based on a survey of research firms that cover Trecora Resources.
A number of brokerages have recently issued reports on TREC. Zacks Investment Research upgraded Trecora Resources from a “sell” rating to a “hold” rating in a report on Thursday, October 12th. TheStreet downgraded Trecora Resources from a “b-” rating to a “c+” rating in a report on Friday, November 10th. Finally, B. Riley reiterated a “buy” rating and issued a $16.00 price target (down from $17.00) on shares of Trecora Resources in a report on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $14.75.
In related news, major shareholder Athel Fahad Mohammed Saleh Al sold 12,868 shares of the business’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $12.21, for a total transaction of $157,118.28. Following the transaction, the insider now directly owns 3,344,425 shares in the company, valued at approximately $40,835,429.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 534,712 shares of company stock worth $6,787,790. 6.60% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in TREC. Citigroup Inc. grew its stake in Trecora Resources by 576.4% during the 2nd quarter. Citigroup Inc. now owns 9,185 shares of the basic materials company’s stock worth $104,000 after buying an additional 7,827 shares during the last quarter. Alliancebernstein L.P. purchased a new position in Trecora Resources during the 2nd quarter worth $147,000. The Manufacturers Life Insurance Company grew its stake in Trecora Resources by 0.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,248 shares of the basic materials company’s stock worth $183,000 after buying an additional 54 shares during the last quarter. First Quadrant L P CA purchased a new stake in Trecora Resources during the 3rd quarter valued at about $207,000. Finally, Rhumbline Advisers grew its stake in Trecora Resources by 7.7% during the 2nd quarter. Rhumbline Advisers now owns 24,132 shares of the basic materials company’s stock valued at $271,000 after purchasing an additional 1,735 shares during the last quarter. Hedge funds and other institutional investors own 42.73% of the company’s stock.
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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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