Analysts forecast that Trecora Resources (NYSE:TREC) will post sales of $68.05 million for the current quarter, Zacks reports. Two analysts have issued estimates for Trecora Resources’ earnings. The highest sales estimate is $71.00 million and the lowest is $65.10 million. Trecora Resources posted sales of $68.11 million during the same quarter last year, which suggests a negative year-over-year growth rate of 0.1%. The business is expected to report its next quarterly earnings report on Wednesday, August 7th.
According to Zacks, analysts expect that Trecora Resources will report full-year sales of $285.68 million for the current financial year, with estimates ranging from $283.16 million to $288.20 million. For the next financial year, analysts anticipate that the business will post sales of $298.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Trecora Resources.
Trecora Resources (NYSE:TREC) last issued its quarterly earnings data on Monday, May 6th. The basic materials company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.12. Trecora Resources had a negative net margin of 1.04% and a negative return on equity of 0.07%. The firm had revenue of $65.16 million for the quarter, compared to analyst estimates of $71.10 million.
A number of brokerages have commented on TREC. Zacks Investment Research upgraded shares of Trecora Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 8th. B. Riley began coverage on shares of Trecora Resources in a report on Tuesday, March 5th. They issued a “buy” rating and a $14.00 price objective on the stock.
In related news, major shareholder Athel Fahad Mohammed Saleh Al sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $10.15, for a total value of $609,000.00. Following the completion of the transaction, the insider now owns 2,864,973 shares in the company, valued at approximately $29,079,475.95. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Patrick D. Quarles acquired 7,010 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was acquired at an average price of $9.32 per share, with a total value of $65,333.20. Following the acquisition, the chief executive officer now owns 27,010 shares in the company, valued at $251,733.20. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 66,315 shares of company stock worth $626,057 and sold 195,450 shares worth $1,889,894. Insiders own 3.92% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of TREC. Wellington Management Group LLP increased its position in Trecora Resources by 13.4% during the 1st quarter. Wellington Management Group LLP now owns 2,962,336 shares of the basic materials company’s stock valued at $26,927,000 after purchasing an additional 350,393 shares during the period. Dimensional Fund Advisors LP grew its position in Trecora Resources by 6.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,128,758 shares of the basic materials company’s stock valued at $10,260,000 after purchasing an additional 72,003 shares during the period. BlackRock Inc. grew its position in Trecora Resources by 2.0% in the 4th quarter. BlackRock Inc. now owns 1,088,556 shares of the basic materials company’s stock valued at $8,490,000 after purchasing an additional 21,009 shares during the period. Vanguard Group Inc grew its position in Trecora Resources by 8.7% in the 3rd quarter. Vanguard Group Inc now owns 981,781 shares of the basic materials company’s stock valued at $13,745,000 after purchasing an additional 78,315 shares during the period. Finally, Vanguard Group Inc. grew its position in Trecora Resources by 8.7% in the 3rd quarter. Vanguard Group Inc. now owns 981,781 shares of the basic materials company’s stock valued at $13,745,000 after purchasing an additional 78,315 shares during the period. Institutional investors and hedge funds own 47.10% of the company’s stock.
TREC stock traded down $0.04 during trading on Friday, reaching $9.98. The stock had a trading volume of 3,097 shares, compared to its average volume of 48,084. Trecora Resources has a 1-year low of $6.69 and a 1-year high of $15.60. The company has a current ratio of 2.15, a quick ratio of 1.48 and a debt-to-equity ratio of 0.60.
Trecora Resources Company Profile
Trecora Resources manufactures and sells various specialty petrochemical products and synthetic waxes in the United States. The company operates in two segments, Petrochemical and Specialty Waxes. The Petrochemical segment offers hydrocarbons and other petroleum based products, including isopentane, normal pentane, isohexane, and hexane for use in the production of polyethylene, packaging, polypropylene, expandable polystyrene, poly-iso/urethane foams, and crude oil from the Canadian tar sands, as well as in the catalyst support industry.
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