Trex (NYSE:TREX) Announces Quarterly Earnings Results

Trex (NYSE:TREX) posted its quarterly earnings data on Monday. The construction company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.05, Briefing.com reports. Trex had a net margin of 21.07% and a return on equity of 33.53%. The business had revenue of $233.72 million during the quarter, compared to analysts’ expectations of $225.42 million. During the same period last year, the firm posted $0.57 earnings per share. The business’s revenue was down 23.1% on a year-over-year basis. Trex updated its FY 2024 guidance to EPS.

Trex Stock Up 2.3 %

NYSE TREX traded up $1.51 during midday trading on Tuesday, hitting $68.02. The company had a trading volume of 1,349,890 shares, compared to its average volume of 975,901. The firm has a fifty day simple moving average of $65.23 and a two-hundred day simple moving average of $75.72. The stock has a market cap of $7.39 billion, a price-to-earnings ratio of 27.53, a P/E/G ratio of 2.45 and a beta of 1.50. Trex has a fifty-two week low of $54.57 and a fifty-two week high of $101.91.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TREX. Truist Financial dropped their price target on Trex from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Stifel Nicolaus cut their price target on shares of Trex from $110.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Benchmark decreased their price objective on shares of Trex from $105.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. The Goldman Sachs Group cut their target price on shares of Trex from $114.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Finally, Jefferies Financial Group decreased their target price on Trex from $77.00 to $73.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $80.00.

Trex Company Profile

Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. It offers decking products and accessories under the names Trex Transcend, Trex Select, Trex Signature, Trex Transcend Lineage, and Trex Enhance for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.