Zacks: Brokerages Expect Trecora Resources (TREC) Will Announce Quarterly Sales of $70.30 Million

Brokerages predict that Trecora Resources (NYSE:TREC) will report sales of $70.30 million for the current quarter, Zacks reports. Two analysts have made estimates for Trecora Resources’ earnings. The highest sales estimate is $73.10 million and the lowest is $67.50 million. Trecora Resources reported sales of $62.12 million during the same quarter last year, which would suggest a positive year over year growth rate of 13.2%. The company is scheduled to announce its next earnings results on Thursday, August 2nd.

On average, analysts expect that Trecora Resources will report full-year sales of $284.79 million for the current fiscal year, with estimates ranging from $279.87 million to $289.70 million. For the next financial year, analysts forecast that the firm will report sales of $300.90 million per share, with estimates ranging from $289.00 million to $312.80 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Trecora Resources.

Trecora Resources (NYSE:TREC) last posted its earnings results on Tuesday, May 1st. The basic materials company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.05). Trecora Resources had a net margin of 7.22% and a return on equity of 4.32%. The company had revenue of $71.74 million during the quarter, compared to analyst estimates of $59.45 million.

TREC has been the subject of a number of recent research reports. Zacks Investment Research lowered Trecora Resources from a “buy” rating to a “hold” rating in a research note on Saturday, May 5th. TheStreet upgraded Trecora Resources from a “c+” rating to a “b-” rating in a research note on Thursday, April 5th. Finally, B. Riley reiterated a “buy” rating on shares of Trecora Resources in a research note on Tuesday, March 6th.

Shares of TREC stock traded up $0.40 during trading hours on Friday, reaching $14.90. The company had a trading volume of 39,918 shares, compared to its average volume of 48,809. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.46 and a current ratio of 2.01. Trecora Resources has a twelve month low of $10.25 and a twelve month high of $15.10. The firm has a market cap of $361.19 million, a P/E ratio of 33.86 and a beta of 1.39.

In other news, Director John Richard Townsend sold 5,267 shares of the stock in a transaction dated Friday, May 4th. The stock was sold at an average price of $12.46, for a total value of $65,626.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.60% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Crestline Management LP purchased a new position in Trecora Resources in the fourth quarter valued at about $1,398,000. Brigade Capital Management LP boosted its holdings in Trecora Resources by 50.9% in the fourth quarter. Brigade Capital Management LP now owns 233,950 shares of the basic materials company’s stock valued at $3,158,000 after purchasing an additional 78,950 shares during the last quarter. Kennedy Capital Management Inc. boosted its holdings in Trecora Resources by 33.5% in the fourth quarter. Kennedy Capital Management Inc. now owns 191,759 shares of the basic materials company’s stock valued at $2,589,000 after purchasing an additional 48,129 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Trecora Resources by 29.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 35,500 shares of the basic materials company’s stock valued at $480,000 after purchasing an additional 8,100 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in Trecora Resources by 1.8% in the fourth quarter. BlackRock Inc. now owns 960,047 shares of the basic materials company’s stock valued at $12,961,000 after purchasing an additional 16,529 shares during the last quarter. 43.26% of the stock is owned by hedge funds and other institutional investors.

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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