$1.17 EPS Expected for Trex Company, Inc. (TREX) This Quarter

Brokerages expect Trex Company, Inc. (NYSE:TREX) to announce earnings of $1.17 per share for the current quarter, according to Zacks. Four analysts have provided estimates for Trex’s earnings, with the lowest EPS estimate coming in at $1.12 and the highest estimate coming in at $1.23. Trex reported earnings of $0.95 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 23.2%. The company is scheduled to announce its next quarterly earnings results after the market closes on Monday, May 7th.

According to Zacks, analysts expect that Trex will report full year earnings of $4.20 per share for the current year, with EPS estimates ranging from $4.15 to $4.30. For the next fiscal year, analysts expect that the firm will post earnings of $4.73 per share, with EPS estimates ranging from $4.70 to $4.80. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Trex.

Trex (NYSE:TREX) last issued its earnings results on Wednesday, February 21st. The construction company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.02. Trex had a net margin of 16.83% and a return on equity of 46.94%. The business had revenue of $122.21 million for the quarter, compared to analyst estimates of $118.48 million. During the same period in the previous year, the business earned $0.43 EPS. The firm’s revenue was up 28.2% on a year-over-year basis.

Several brokerages have recently weighed in on TREX. Zacks Investment Research upgraded shares of Trex from a “hold” rating to a “buy” rating and set a $124.00 target price on the stock in a research report on Tuesday, February 27th. B. Riley boosted their price target on shares of Trex from $125.00 to $126.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Finally, Stifel Nicolaus restated a “hold” rating and issued a $110.00 price target (up from $100.00) on shares of Trex in a research report on Thursday, February 22nd. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $102.00.

Shares of Trex stock traded down $5.68 during trading on Thursday, hitting $108.30. 182,843 shares of the company’s stock traded hands, compared to its average volume of 218,914. Trex has a twelve month low of $61.57 and a twelve month high of $120.40. The firm has a market cap of $3,328.67, a P/E ratio of 34.30 and a beta of 2.25.

Trex declared that its Board of Directors has authorized a share buyback program on Wednesday, February 21st that authorizes the company to repurchase 2,900,000 shares. This repurchase authorization authorizes the construction company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

In other Trex news, insider James E. Cline sold 21,669 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $106.58, for a total value of $2,309,482.02. Following the completion of the transaction, the insider now directly owns 68,736 shares of the company’s stock, valued at $7,325,882.88. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Patricia B. Robinson sold 3,255 shares of the business’s stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $105.00, for a total transaction of $341,775.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,534 shares of company stock valued at $4,458,727. Insiders own 0.95% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN raised its stake in shares of Trex by 29.2% during the third quarter. Wells Fargo & Company MN now owns 55,242 shares of the construction company’s stock worth $4,976,000 after buying an additional 12,472 shares during the last quarter. Swiss National Bank raised its stake in shares of Trex by 1.8% during the fourth quarter. Swiss National Bank now owns 50,100 shares of the construction company’s stock worth $5,430,000 after buying an additional 900 shares during the last quarter. BlackRock Inc. raised its stake in shares of Trex by 5.7% during the fourth quarter. BlackRock Inc. now owns 3,974,637 shares of the construction company’s stock worth $430,812,000 after buying an additional 215,522 shares during the last quarter. Aurora Investment Counsel bought a new stake in shares of Trex during the fourth quarter worth approximately $2,375,000. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Trex by 6.2% during the third quarter. Schwab Charles Investment Management Inc. now owns 137,312 shares of the construction company’s stock worth $12,368,000 after buying an additional 8,074 shares during the last quarter. 91.06% of the stock is owned by institutional investors.

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About Trex

Trex Company, Inc manufactures and distributes wood/plastic composite products, and related accessories primarily for the residential and commercial decking, and railing applications in the United States. It offers Trex Transcend, Trex Enhance, and Trex Select protective shells for protection against fading, staining, mold, and scratching; and Trex Hideaway, a hidden fastening system for grooved boards.

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