Quanex Building Products Co. (NX) Expected to Post Quarterly Sales of $193.30 Million

Equities research analysts expect Quanex Building Products Co. (NYSE:NX) to post sales of $193.30 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Quanex Building Products’ earnings, with the lowest sales estimate coming in at $190.60 million and the highest estimate coming in at $196.00 million. Quanex Building Products posted sales of $195.10 million during the same quarter last year, which would indicate a negative year over year growth rate of 0.9%. The business is scheduled to report its next earnings report on Monday, March 5th.

According to Zacks, analysts expect that Quanex Building Products will report full year sales of $193.30 million for the current year, with estimates ranging from $893.30 million to $895.00 million. For the next year, analysts expect that the business will post sales of $928.35 million per share, with estimates ranging from $927.50 million to $929.20 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Quanex Building Products.

Quanex Building Products (NYSE:NX) last released its earnings results on Monday, December 11th. The construction company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.08. The company had revenue of $233.00 million for the quarter, compared to the consensus estimate of $232.47 million. Quanex Building Products had a net margin of 2.16% and a return on equity of 7.00%. Quanex Building Products’s revenue was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.45 EPS.

Several analysts have weighed in on NX shares. Zacks Investment Research downgraded shares of Quanex Building Products from a “hold” rating to a “sell” rating in a research report on Wednesday, December 13th. Wedbush downgraded shares of Quanex Building Products from an “outperform” rating to a “neutral” rating and set a $25.00 target price on the stock. in a research report on Monday, December 18th. Finally, KeyCorp reissued a “hold” rating on shares of Quanex Building Products in a research report on Friday, October 27th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $25.00.

In other news, Director Susan F. Davis sold 10,000 shares of the company’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $22.77, for a total value of $227,700.00. Following the sale, the director now directly owns 35,182 shares of the company’s stock, valued at approximately $801,094.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Susan F. Davis sold 10,421 shares of the company’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $22.47, for a total transaction of $234,159.87. Following the completion of the sale, the director now directly owns 35,603 shares in the company, valued at $799,999.41. The disclosure for this sale can be found here. In the last three months, insiders have sold 78,921 shares of company stock worth $1,861,684. 5.32% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in NX. Assenagon Asset Management S.A. purchased a new stake in Quanex Building Products during the fourth quarter worth $2,711,000. Dimensional Fund Advisors LP boosted its holdings in Quanex Building Products by 4.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,859,309 shares of the construction company’s stock worth $60,474,000 after buying an additional 111,005 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Quanex Building Products by 3.4% during the second quarter. Vanguard Group Inc. now owns 3,131,357 shares of the construction company’s stock worth $66,228,000 after buying an additional 104,038 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Quanex Building Products by 17.0% during the second quarter. Ameriprise Financial Inc. now owns 499,173 shares of the construction company’s stock worth $10,557,000 after buying an additional 72,482 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in Quanex Building Products by 0.9% during the second quarter. BlackRock Inc. now owns 4,732,378 shares of the construction company’s stock worth $100,089,000 after buying an additional 40,778 shares in the last quarter. 99.80% of the stock is currently owned by hedge funds and other institutional investors.

Quanex Building Products (NX) remained flat at $$20.70 during trading hours on Monday. The company had a trading volume of 90,417 shares, compared to its average volume of 159,189. The company has a market cap of $718.95, a PE ratio of 26.62 and a beta of 0.70. Quanex Building Products has a one year low of $17.45 and a one year high of $24.60. The company has a current ratio of 1.80, a quick ratio of 0.98 and a debt-to-equity ratio of 0.54.

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Quanex Building Products Company Profile

Quanex Building Products Corporation manufactures components for original equipment manufacturers (OEM) in the building products industry. The Company’s components can be categorized as window and door (fenestration) components, and kitchen and bath cabinet components. The Company operates through three segments: North American Engineered Components (NA Engineered Components), which consists of four operating segments primarily focused on the fenestration market in North America manufacturing vinyl profiles, insulating glass (IG) spacers, screens and other fenestration components; European Engineered Components (EU Engineered Components), which consists of the United Kingdom-based vinyl extrusion business, manufacturing vinyl profiles and conservatories, and the European insulating glass business manufacturing IG spacers, and North American Cabinet Components (NA Cabinet Components), which consists of the North American cabinet door and components business.

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

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