Trex Company, Inc. (NYSE:TREX) to Post Q3 2024 Earnings of $0.30 Per Share, William Blair Forecasts

Trex Company, Inc. (NYSE:TREX) – Investment analysts at William Blair dropped their Q3 2024 earnings estimates for Trex in a report released on Tuesday, October 15th. William Blair analyst R. Merkel now expects that the construction company will post earnings per share of $0.30 for the quarter, down from their previous forecast of $0.33. The consensus estimate for Trex’s current full-year earnings is $2.04 per share. William Blair also issued estimates for Trex’s FY2024 earnings at $1.98 EPS, Q1 2025 earnings at $0.64 EPS, Q3 2025 earnings at $0.48 EPS and FY2025 earnings at $2.20 EPS.

A number of other brokerages have also commented on TREX. Stephens lowered Trex from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $115.00 to $72.00 in a research report on Wednesday, August 7th. Citigroup lowered their price objective on shares of Trex from $94.00 to $80.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Loop Capital downgraded shares of Trex from a “buy” rating to a “hold” rating and cut their target price for the stock from $95.00 to $75.00 in a research report on Wednesday, August 7th. DA Davidson lowered their price target on shares of Trex from $89.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Finally, Truist Financial cut their price objective on Trex from $120.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Trex has an average rating of “Hold” and a consensus target price of $81.31.

Trex Trading Down 0.8 %

Shares of TREX stock opened at $64.73 on Thursday. The company has a market capitalization of $7.04 billion, a price-to-earnings ratio of 26.75, a P/E/G ratio of 2.21 and a beta of 1.50. Trex has a 1-year low of $53.59 and a 1-year high of $101.91. The stock’s fifty day simple moving average is $64.76 and its 200-day simple moving average is $77.70.

Trex (NYSE:TREX) last posted its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. Trex had a net margin of 21.07% and a return on equity of 33.53%. The firm had revenue of $376.47 million during the quarter, compared to analyst estimates of $387.87 million. During the same quarter last year, the business posted $0.71 EPS. The company’s revenue was up 5.6% on a year-over-year basis.

Hedge Funds Weigh In On Trex

A number of institutional investors have recently modified their holdings of the company. Mather Group LLC. acquired a new position in Trex in the 1st quarter valued at $26,000. V Square Quantitative Management LLC bought a new stake in Trex during the fourth quarter valued at about $25,000. Sunbelt Securities Inc. boosted its holdings in Trex by 1,744.4% during the first quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock valued at $33,000 after acquiring an additional 314 shares during the period. Rise Advisors LLC grew its position in shares of Trex by 305.0% in the first quarter. Rise Advisors LLC now owns 405 shares of the construction company’s stock valued at $40,000 after purchasing an additional 305 shares during the last quarter. Finally, Hantz Financial Services Inc. bought a new position in shares of Trex in the second quarter worth about $31,000. Institutional investors own 95.96% of the company’s stock.

About Trex

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.