Trex (NYSE:TREX) Posts Earnings Results, Beats Expectations By $0.05 EPS

Trex (NYSE:TREX) issued its quarterly earnings data on Monday. The construction company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05, Briefing.com reports. Trex had a return on equity of 33.53% and a net margin of 21.07%. The company had revenue of $233.72 million during the quarter, compared to analysts’ expectations of $225.42 million. During the same quarter in the previous year, the company 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 Price Performance

Shares of TREX traded up $1.67 during midday trading on Tuesday, hitting $68.18. 1,655,938 shares of the company traded hands, compared to its average volume of 978,609. The stock has a 50-day moving average of $65.23 and a 200-day moving average of $75.72. Trex has a one year low of $54.57 and a one year high of $101.91. The firm has a market cap of $7.41 billion, a P/E ratio of 27.53, a PEG ratio of 2.45 and a beta of 1.50.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TREX. JPMorgan Chase & Co. reduced their price objective on Trex from $95.00 to $69.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Bank of America cut their price target on Trex from $97.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Jefferies Financial Group cut their price target on Trex from $77.00 to $73.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. DA Davidson cut their price target on Trex from $89.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Finally, Citigroup cut their price target on Trex from $94.00 to $80.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock 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.