Trex (NYSE:TREX) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Trex (NYSE:TREX) announced its quarterly earnings results on Monday. The construction company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.32 by $0.05, Briefing.com reports. The business had revenue of $233.72 million for the quarter, compared to analyst estimates of $225.42 million. Trex had a return on equity of 33.53% and a net margin of 21.07%. Trex’s quarterly revenue was down 23.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.57 EPS. Trex updated its FY 2024 guidance to EPS.

Trex Price Performance

TREX stock opened at $70.63 on Wednesday. The stock has a market capitalization 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. The business has a 50-day moving average of $65.23 and a 200-day moving average of $75.72. Trex has a fifty-two week low of $54.57 and a fifty-two week high of $101.91.

Wall Street Analyst Weigh In

Several analysts recently commented on TREX shares. Truist Financial decreased their price target on Trex from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Loop Capital downgraded Trex from a “buy” rating to a “hold” rating and cut their price objective for the company from $95.00 to $75.00 in a research report on Wednesday, August 7th. Bank of America cut their price objective on Trex from $97.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Citigroup dropped their target price on Trex from $94.00 to $80.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Finally, Benchmark dropped their price objective on Trex from $105.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Two equities 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, the stock presently 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.