Continental Building Products Trading Down 9.5% on Disappointing Earnings (CBPX)
Continental Building Products (NASDAQ:CBPX) shares fell 9.5% on Tuesday following a weaker than expected earnings announcement, American Banking and Market News reports. The stock traded as low as $13.18 and last traded at $13.26, with a volume of 106,273 shares changing hands. The stock had previously closed at $14.66.
The company reported $0.11 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.20 by $0.09. The company had revenue of $102.90 million for the quarter, compared to the consensus estimate of $106.44 million. The company’s quarterly revenue was up 3.2% on a year-over-year basis.
A number of analysts have recently weighed in on CBPX shares. Analysts at Credit Suisse reiterated an “outperform” rating on shares of Continental Building Products in a research note on Tuesday. They now have a $17.00 price target on the stock, down previously from $22.00. Separately, analysts at RBC Capital downgraded shares of Continental Building Products from an “outperform” rating to a “sector perform” rating in a research note on Monday, July 14th. They now have a $17.00 price target on the stock, down previously from $19.00. Finally, analysts at Barclays cut their price target on shares of Continental Building Products from $22.00 to $21.00 in a research note on Wednesday, July 2nd. They now have an “overweight” rating on the stock. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $19.60.
The stock’s 50-day moving average is $14.32 and its 200-day moving average is $16.52. The company’s market cap is $587.0 million.
Continental Building Products Inc is a manufacturer of gypsum wallboard and complementary finishing products.
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