Wall Street brokerages predict that Trecora Resources (NYSE:TREC) will announce sales of $64.72 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Trecora Resources’ earnings. The lowest sales estimate is $62.85 million and the highest is $66.60 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 13.3%. The company is expected to report 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 financial year, analysts forecast that the company 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 averages are an average based on a survey of research analysts that that provide coverage for 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 consensus estimate of $0.07 by $0.04. Trecora Resources had a return on equity of 3.95% and a net margin of 0.97%. The business had revenue of $62.12 million during the quarter, compared to analysts’ expectations of $56.68 million.
A number of research analysts recently commented on TREC shares. Zacks Investment Research cut Trecora Resources from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Singular Research decreased their price objective on Trecora Resources from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, April 27th. TheStreet upgraded Trecora Resources from a “c” rating to a “b-” rating in a report on Monday, July 17th. B. Riley reiterated a “buy” rating and issued a $17.50 price objective on shares of Trecora Resources in a report on Monday, May 8th. Finally, BidaskClub cut Trecora Resources from a “sell” rating to a “strong sell” rating in a report on Saturday. One investment 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. Trecora Resources currently has an average rating of “Hold” and an average target price of $15.00.
In related news, VP Mark D. Williamson sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $10.90, for a total value of $109,000.00. Following the transaction, the vice president now directly owns 24,277 shares in the company, valued at $264,619.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Pamela R. Butcher acquired 2,750 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The stock was acquired at an average price of $11.31 per share, for a total transaction of $31,102.50. Following the completion of the acquisition, the director now directly owns 2,500 shares of the company’s stock, valued at approximately $28,275. The disclosure for this purchase can be found here. Corporate insiders own 6.60% of the company’s stock.
A number of hedge funds have recently made changes to their positions in TREC. Wellington Management Group LLP raised its stake in shares of Trecora Resources by 8.5% in the first quarter. Wellington Management Group LLP now owns 2,873,014 shares of the basic materials company’s stock worth $31,890,000 after buying an additional 225,893 shares during the last quarter. Balter Liquid Alternatives LLC raised its stake in shares of Trecora Resources by 131.7% in the first quarter. Balter Liquid Alternatives LLC now owns 94,454 shares of the basic materials company’s stock worth $1,048,000 after buying an additional 53,683 shares during the last quarter. Friedberg Investment Management purchased a new stake in shares of Trecora Resources during the first quarter worth about $488,000. Ironwood Investment Management LLC purchased a new stake in shares of Trecora Resources during the second quarter worth about $375,000. Finally, Renaissance Technologies LLC raised its stake in shares of Trecora Resources by 12.7% in the first quarter. Renaissance Technologies LLC now owns 249,500 shares of the basic materials company’s stock worth $2,769,000 after buying an additional 28,100 shares during the last quarter. 35.79% of the stock is currently owned by institutional investors.
Shares of Trecora Resources (NYSE:TREC) opened at 12.30 on Wednesday. The stock has a market capitalization of $298.30 million, a P/E ratio of 22.40 and a beta of 1.56. Trecora Resources has a one year low of $9.75 and a one year high of $14.80. The stock has a 50 day moving average price of $11.48 and a 200 day moving average price of $11.55.
About Trecora Resources
Trecora Resources is engaged in manufacturing of specialty petrochemical products and synthetic waxes, and providing custom processing services. The Company operates through two segments: manufacturing of various specialty petrochemical products and manufacturing of specialty synthetic waxes. The specialty petrochemical products segment operates through South Hampton Resources, Inc (SHR).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
What are top analysts saying about Trecora Resources? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Trecora Resources and related companies.