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

Trex (NYSE:TREX) released its earnings results on Monday. The construction company reported $0.37 EPS for the quarter, beating 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 last year, the business posted $0.57 EPS. The firm’s revenue for the quarter was down 23.1% compared to the same quarter last year. Trex updated its FY 2024 guidance to EPS.

Trex Stock Performance

NYSE TREX opened at $70.55 on Thursday. The company has a market capitalization of $7.67 billion, a PE ratio of 32.21, a price-to-earnings-growth ratio of 2.45 and a beta of 1.50. The business’s fifty day moving average is $65.36 and its 200 day moving average is $75.57. Trex has a fifty-two week low of $55.67 and a fifty-two week high of $101.91.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TREX shares. Robert W. Baird raised their price objective on Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research report on Tuesday. DA Davidson lifted their target price on Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Tuesday. Stephens lowered Trex from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $115.00 to $72.00 in a report on Wednesday, August 7th. Citigroup reduced their target price on Trex from $94.00 to $80.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Finally, Truist Financial reduced their target price on Trex from $120.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $79.94.

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.