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, topping the consensus estimate of $0.32 by $0.05, Briefing.com reports. The firm had revenue of $233.72 million for the quarter, compared to the consensus estimate of $225.42 million. Trex had a return on equity of 33.53% and a net margin of 21.07%. The business’s revenue for the quarter was down 23.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.57 EPS. Trex updated its FY 2024 guidance to EPS.

Trex Stock Up 6.2 %

Shares of NYSE TREX opened at $70.63 on Wednesday. The business’s 50 day moving average is $65.23 and its two-hundred day moving average is $75.72. The company has a market cap of $7.68 billion, a P/E ratio of 29.19, a P/E/G ratio of 2.45 and a beta of 1.50. Trex has a 12 month low of $54.57 and a 12 month high of $101.91.

Wall Street Analyst Weigh In

TREX has been the topic of a number of research analyst reports. Citigroup lowered their price target on Trex from $94.00 to $80.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. The Goldman Sachs Group dropped their target price on Trex from $114.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Bank of America decreased their price target on shares of Trex from $97.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. StockNews.com lowered shares of Trex from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Benchmark lowered their price target on shares of Trex from $105.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Trex currently has an average rating of “Hold” and an average target price of $79.94.

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.