$220.40 Million in Sales Expected for Quanex Building Products Co. (NX) This Quarter

Brokerages expect Quanex Building Products Co. (NYSE:NX) to announce sales of $220.40 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Quanex Building Products’ earnings, with the lowest sales estimate coming in at $219.20 million and the highest estimate coming in at $221.60 million. Quanex Building Products reported sales of $214.21 million in the same quarter last year, which indicates a positive year-over-year growth rate of 2.9%. The company is expected to issue its next quarterly earnings results on Monday, June 3rd.

According to Zacks, analysts expect that Quanex Building Products will report full-year sales of $925.11 million for the current financial year. For the next financial year, analysts anticipate that the company will post sales of $952.30 million, with estimates ranging from $939.90 million to $964.70 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that that provide coverage for Quanex Building Products.

Quanex Building Products (NYSE:NX) last announced its quarterly earnings data on Tuesday, March 5th. The construction company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. Quanex Building Products had a return on equity of 5.32% and a net margin of 1.98%. The company had revenue of $196.81 million during the quarter, compared to the consensus estimate of $195.80 million.

Several analysts have issued reports on NX shares. Seaport Global Securities started coverage on shares of Quanex Building Products in a research note on Friday, March 15th. They set a “buy” rating and a $19.00 target price on the stock. Zacks Investment Research downgraded shares of Quanex Building Products from a “hold” rating to a “sell” rating in a research note on Saturday, December 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $17.00.

Shares of NYSE:NX opened at $16.66 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.35 and a current ratio of 2.48. Quanex Building Products has a 12-month low of $10.70 and a 12-month high of $20.30. The firm has a market cap of $555.65 million, a price-to-earnings ratio of 25.63 and a beta of 1.07.

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date was Friday, March 15th. Quanex Building Products’s dividend payout ratio (DPR) is presently 49.23%.

Several hedge funds and other institutional investors have recently bought and sold shares of NX. Norges Bank acquired a new position in shares of Quanex Building Products in the fourth quarter worth $7,441,000. Segall Bryant & Hamill LLC increased its stake in shares of Quanex Building Products by 63.3% in the fourth quarter. Segall Bryant & Hamill LLC now owns 1,151,531 shares of the construction company’s stock worth $15,649,000 after acquiring an additional 446,408 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Quanex Building Products in the third quarter worth $4,754,000. D. E. Shaw & Co. Inc. increased its position in Quanex Building Products by 104.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 338,789 shares of the construction company’s stock worth $4,604,000 after buying an additional 173,084 shares during the last quarter. Finally, BlackRock Inc. increased its position in Quanex Building Products by 2.9% during the fourth quarter. BlackRock Inc. now owns 5,629,409 shares of the construction company’s stock worth $76,504,000 after buying an additional 160,669 shares during the last quarter. 95.07% of the stock is currently owned by institutional investors and hedge funds.

About Quanex Building Products

Quanex Building Products Corporation, together with its subsidiaries, provides components for the fenestration industry worldwide. It operates through three segments: North American Engineered Components, European Engineered Components, and North American Cabinet Components. The company offers flexible insulating glass spacers, extruded vinyl profiles, window and door screens, and precision-formed metal and wood products, as well as cabinet doors and other components for original equipment manufacturers (OEMs) in the kitchen and bathroom cabinet industry.

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