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

Trex (NYSE:TREX - Get Free Report) announced its quarterly earnings data on Monday. The construction company reported $0.37 earnings per share (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 analysts' expectations of $225.42 million. Trex had a return on equity of 33.53% and a net margin of 21.07%. The company's revenue for the quarter was down 23.1% compared to the same quarter last year. During the same period last year, the firm earned $0.57 earnings per share. Trex updated its FY 2024 guidance to EPS.

Trex Price Performance

TREX stock traded up $4.12 during midday trading on Tuesday, hitting $70.63. The stock had a trading volume of 5,809,508 shares, compared to its average volume of 998,483. The company's 50-day moving average price is $65.23 and its 200 day moving average price is $75.72. The firm has a market cap of $7.68 billion, a PE ratio of 29.19, a price-to-earnings-growth 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 several research analyst reports. JPMorgan Chase & Co. cut their target price on Trex from $95.00 to $69.00 and set a "neutral" rating on the stock in a research report on Monday, August 12th. BMO Capital Markets boosted their price objective on shares of Trex from $67.00 to $72.00 and gave the stock a "market perform" rating in a research report on Tuesday. UBS Group dropped their target price on shares of Trex from $104.00 to $79.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 7th. Benchmark reduced their price target on shares of Trex from $105.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, August 8th. Finally, Robert W. Baird raised their price objective on Trex from $70.00 to $78.00 and gave the stock a "neutral" rating in a report on Tuesday. Two 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's stock. Based on data from MarketBeat, Trex currently has an average rating of "Hold" and a consensus price target of $79.94.

Trex Company Profile

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.