Trecora Resources (TREC) Expected to Post Quarterly Sales of $70.30 Million

Wall Street analysts expect Trecora Resources (NYSE:TREC) to announce $70.30 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Trecora Resources’ earnings, with the highest sales estimate coming in at $73.10 million and the lowest estimate coming in at $67.50 million. Trecora Resources reported sales of $62.12 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 13.2%. The company is scheduled to issue 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 financial year, with estimates ranging from $279.87 million to $289.70 million. For the next fiscal year, analysts anticipate that the company will post sales of $300.90 million per share, with estimates ranging from $289.00 million to $312.80 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Trecora Resources.

Trecora Resources (NYSE:TREC) last issued its quarterly earnings data on Tuesday, May 1st. The basic materials company reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.05). The firm had revenue of $71.74 million for the quarter, compared to the consensus estimate of $59.45 million. Trecora Resources had a return on equity of 4.32% and a net margin of 7.22%.

Several brokerages have weighed in on TREC. Zacks Investment Research cut shares of Trecora Resources from a “buy” rating to a “hold” rating in a research note on Saturday, May 5th. TheStreet raised shares of Trecora Resources from a “c+” rating to a “b-” rating in a research note on Thursday, April 5th. Finally, B. Riley reaffirmed a “buy” rating on shares of Trecora Resources in a research note on Tuesday, March 6th.

In other news, Director John Richard Townsend sold 5,267 shares of the company’s stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $12.46, for a total transaction of $65,626.82. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Athel Fahad Mohammed Saleh Al sold 4,363 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $12.30, for a total transaction of $53,664.90. Following the transaction, the insider now owns 3,066,742 shares in the company, valued at $37,720,926.60. The disclosure for this sale can be found here. Insiders have sold 19,630 shares of company stock worth $256,692 over the last ninety days. Insiders own 6.60% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Trecora Resources by 1.8% during the fourth quarter. BlackRock Inc. now owns 960,047 shares of the basic materials company’s stock worth $12,961,000 after purchasing an additional 16,529 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Trecora Resources by 14.0% during the first quarter. Dimensional Fund Advisors LP now owns 823,622 shares of the basic materials company’s stock worth $11,201,000 after purchasing an additional 101,063 shares in the last quarter. Brigade Capital Management LP lifted its position in shares of Trecora Resources by 50.9% during the fourth quarter. Brigade Capital Management LP now owns 233,950 shares of the basic materials company’s stock worth $3,158,000 after purchasing an additional 78,950 shares in the last quarter. Kennedy Capital Management Inc. lifted its position in shares of Trecora Resources by 33.5% during the fourth quarter. Kennedy Capital Management Inc. now owns 191,759 shares of the basic materials company’s stock worth $2,589,000 after purchasing an additional 48,129 shares in the last quarter. Finally, Rutabaga Capital Management LLC MA acquired a new position in shares of Trecora Resources during the fourth quarter worth approximately $1,817,000. Institutional investors own 46.22% of the company’s stock.

Shares of Trecora Resources opened at $13.50 on Friday, Marketbeat Ratings reports. The company has a current ratio of 2.01, a quick ratio of 1.46 and a debt-to-equity ratio of 0.53. The stock has a market cap of $329.57 million, a price-to-earnings ratio of 30.68 and a beta of 1.37. Trecora Resources has a 1-year low of $10.25 and a 1-year high of $14.40.

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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