Zacks: Analysts Expect Continental Building Products, Inc. (CBPX) Will Announce Quarterly Sales of $127.21 Million
Brokerages forecast that Continental Building Products, Inc. (NYSE:CBPX) will report $127.21 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Continental Building Products’ earnings, with the lowest sales estimate coming in at $125.61 million and the highest estimate coming in at $128.80 million. Continental Building Products posted sales of $117.12 million in the same quarter last year, which indicates a positive year over year growth rate of 8.6%. The company is expected to announce its next quarterly earnings results on Wednesday, August 2nd.
On average, analysts expect that Continental Building Products will report full-year sales of $127.21 million for the current fiscal year, with estimates ranging from $472.48 million to $505.50 million. For the next fiscal year, analysts anticipate that the firm will report sales of $522.38 million per share, with estimates ranging from $497.20 million to $540.90 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Continental Building Products.
Continental Building Products (NYSE:CBPX) last announced its earnings results on Thursday, May 4th. The construction company reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.06. The company had revenue of $120.60 million during the quarter, compared to the consensus estimate of $109.81 million. Continental Building Products had a net margin of 9.30% and a return on equity of 15.57%. Continental Building Products’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the firm earned $0.30 earnings per share.
Several research analysts have recently issued reports on CBPX shares. Zacks Investment Research upgraded shares of Continental Building Products from a “hold” rating to a “strong-buy” rating and set a $27.00 target price for the company in a report on Monday, February 27th. Royal Bank Of Canada reiterated a “buy” rating on shares of Continental Building Products in a research note on Monday, May 15th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $25.00.
A number of institutional investors have recently bought and sold shares of CBPX. Vanguard Group Inc. increased its position in Continental Building Products by 4.3% in the first quarter. Vanguard Group Inc. now owns 4,142,646 shares of the construction company’s stock valued at $101,495,000 after buying an additional 172,234 shares during the period. Macquarie Group Ltd. increased its position in Continental Building Products by 15.6% in the first quarter. Macquarie Group Ltd. now owns 1,461,002 shares of the construction company’s stock valued at $35,795,000 after buying an additional 196,797 shares during the period. Dimensional Fund Advisors LP increased its position in Continental Building Products by 10.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,403,609 shares of the construction company’s stock valued at $32,424,000 after buying an additional 138,293 shares during the period. Dalton Greiner Hartman Maher & Co. increased its position in Continental Building Products by 2.3% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 747,163 shares of the construction company’s stock valued at $18,305,000 after buying an additional 16,955 shares during the period. Finally, State Street Corp increased its position in Continental Building Products by 4.5% in the fourth quarter. State Street Corp now owns 725,054 shares of the construction company’s stock valued at $16,749,000 after buying an additional 31,227 shares during the period. Hedge funds and other institutional investors own 97.35% of the company’s stock.
Shares of Continental Building Products (NYSE:CBPX) opened at 24.00 on Wednesday. The firm has a 50-day moving average of $24.43 and a 200 day moving average of $24.06. Continental Building Products has a 52 week low of $18.35 and a 52 week high of $26.52. The firm has a market capitalization of $941.28 million, a P/E ratio of 22.04 and a beta of 1.31.
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About Continental Building Products
Continental Building Products, Inc is a manufacturer of gypsum wallboard and complementary finishing products. The Company operates through wallboard segment. Gypsum wallboard is a primary building material used in residential and commercial construction and in repair and remodel (R&R). It offers customers a range of gypsum wallboard products, including LiftLite, its lightweight product designed to lift and install; its Mold Defense line of products designed for protection against mold and mildew, and its Weather Defense line of moisture and mold-resistant exterior sheathing.
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