Zacks: Brokerages Anticipate Quanex Building Products Corporation (NX) Will Post Earnings of $0.37 Per Share

Wall Street analysts expect that Quanex Building Products Corporation (NYSE:NX) will announce $0.37 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Quanex Building Products Corporation’s earnings, with the highest EPS estimate coming in at $0.46 and the lowest estimate coming in at $0.28. Quanex Building Products Corporation reported earnings per share of $0.45 in the same quarter last year, which would suggest a negative year over year growth rate of 17.8%. The company is expected to announce its next quarterly earnings results on Thursday, December 21st.

According to Zacks, analysts expect that Quanex Building Products Corporation will report full-year earnings of $0.85 per share for the current financial year. For the next fiscal year, analysts forecast that the firm will post earnings of $0.85 per share, with EPS estimates ranging from $0.69 to $1.01. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Quanex Building Products Corporation.

Quanex Building Products Corporation (NYSE:NX) last announced its earnings results on Wednesday, September 6th. The construction company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). The business had revenue of $229.40 million for the quarter, compared to analyst estimates of $235.45 million. Quanex Building Products Corporation had a return on equity of 7.87% and a net margin of 1.52%. The business’s revenue was down 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.27 EPS.

A number of analysts have recently issued reports on the stock. Wedbush reissued an “outperform” rating and issued a $25.00 price target on shares of Quanex Building Products Corporation in a research report on Wednesday, July 19th. BidaskClub lowered shares of Quanex Building Products Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Sidoti assumed coverage on shares of Quanex Building Products Corporation in a research report on Monday, August 7th. They issued a “buy” rating for the company. Zacks Investment Research raised shares of Quanex Building Products Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Finally, TheStreet raised shares of Quanex Building Products Corporation from a “c” rating to a “b-” rating in a research report on Wednesday, September 6th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. Quanex Building Products Corporation presently has a consensus rating of “Hold” and an average price target of $24.00.

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In other news, VP Brent L. Korb sold 17,500 shares of the firm’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $21.15, for a total value of $370,125.00. Following the sale, the vice president now owns 94,679 shares in the company, valued at $2,002,460.85. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 5.32% of the company’s stock.

Several institutional investors have recently made changes to their positions in NX. Russell Investments Group Ltd. grew its stake in shares of Quanex Building Products Corporation by 22.7% in the first quarter. Russell Investments Group Ltd. now owns 70,658 shares of the construction company’s stock worth $1,431,000 after acquiring an additional 13,049 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Quanex Building Products Corporation by 15.4% in the first quarter. Wells Fargo & Company MN now owns 167,514 shares of the construction company’s stock worth $3,392,000 after acquiring an additional 22,400 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in shares of Quanex Building Products Corporation by 10.4% in the first quarter. Great West Life Assurance Co. Can now owns 47,807 shares of the construction company’s stock worth $966,000 after acquiring an additional 4,503 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Quanex Building Products Corporation by 13.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 39,340 shares of the construction company’s stock worth $797,000 after acquiring an additional 4,712 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Quanex Building Products Corporation by 5.0% in the first quarter. Bank of New York Mellon Corp now owns 479,834 shares of the construction company’s stock worth $9,717,000 after acquiring an additional 22,970 shares during the last quarter. Institutional investors and hedge funds own 99.75% of the company’s stock.

Quanex Building Products Corporation (NYSE NX) traded down 0.43% during trading on Tuesday, hitting $22.95. 154,302 shares of the stock were exchanged. Quanex Building Products Corporation has a 12-month low of $15.41 and a 12-month high of $23.60. The stock’s 50-day moving average price is $20.82 and its 200-day moving average price is $20.58. The firm has a market cap of $790.79 million, a PE ratio of 58.40 and a beta of 0.67.

The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Monday, September 18th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Friday, September 15th. This represents a $0.16 annualized dividend and a yield of 0.70%. Quanex Building Products Corporation’s dividend payout ratio (DPR) is presently 42.11%.

Quanex Building Products Corporation Company Profile

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Earnings History and Estimates for Quanex Building Products Corporation (NYSE:NX)

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