Wall Street brokerages expect Quanex Building Products Corporation (NYSE:NX) to report sales of $238.85 million for the current quarter, Zacks reports. Two analysts have provided estimates for Quanex Building Products Corporation’s earnings. The lowest sales estimate is $237.50 million and the highest is $240.20 million. Quanex Building Products Corporation posted sales of $249.17 million during the same quarter last year, which would indicate a negative year over year growth rate of 4.1%. The business is scheduled to issue its next earnings report on Thursday, December 21st.

On average, analysts expect that Quanex Building Products Corporation will report full year sales of $238.85 million for the current fiscal year, with estimates ranging from $871.10 million to $878.70 million. For the next financial year, analysts anticipate that the business will report sales of $911.30 million per share, with estimates ranging from $909.90 million to $912.70 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Quanex Building Products Corporation.

Quanex Building Products Corporation (NYSE:NX) last released its quarterly earnings results on Wednesday, September 6th. The construction company reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.01). Quanex Building Products Corporation had a net margin of 1.52% and a return on equity of 7.87%. The firm had revenue of $229.40 million for the quarter, compared to the consensus estimate of $235.45 million. During the same quarter in the prior year, the firm earned $0.27 earnings per share. The company’s revenue for the quarter was down 7.5% compared to the same quarter last year.

NX has been the topic of several research reports. Wedbush restated an “outperform” rating and set a $25.00 price objective on shares of Quanex Building Products Corporation in a report on Wednesday, July 19th. Zacks Investment Research downgraded Quanex Building Products Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, September 20th. KeyCorp restated a “hold” rating on shares of Quanex Building Products Corporation in a report on Friday, September 22nd. BidaskClub downgraded Quanex Building Products Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Finally, Sidoti initiated coverage on Quanex Building Products Corporation in a report on Monday, August 7th. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $24.00.

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

Several institutional investors have recently bought and sold shares of NX. State of Alaska Department of Revenue boosted its position in shares of Quanex Building Products Corporation by 77.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 6,746 shares of the construction company’s stock worth $142,000 after purchasing an additional 2,946 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Quanex Building Products Corporation by 5.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,938 shares of the construction company’s stock worth $161,000 after purchasing an additional 403 shares in the last quarter. Mason Street Advisors LLC boosted its position in shares of Quanex Building Products Corporation by 7.6% in the 1st quarter. Mason Street Advisors LLC now owns 8,045 shares of the construction company’s stock worth $163,000 after purchasing an additional 568 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Quanex Building Products Corporation in the 2nd quarter worth $314,000. Finally, Arizona State Retirement System boosted its position in shares of Quanex Building Products Corporation by 1.7% in the 1st quarter. Arizona State Retirement System now owns 17,936 shares of the construction company’s stock worth $363,000 after purchasing an additional 300 shares in the last quarter. 99.75% of the stock is owned by hedge funds and other institutional investors.

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Shares of Quanex Building Products Corporation (NX) opened at 23.20 on Thursday. Quanex Building Products Corporation has a 52-week low of $15.40 and a 52-week high of $23.60. The company’s 50 day moving average price is $21.05 and its 200 day moving average price is $20.63. The company has a market capitalization of $799.40 million, a price-to-earnings ratio of 59.03 and a beta of 0.67.

The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Monday, September 18th were issued a $0.04 dividend. The ex-dividend date was Friday, September 15th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.69%. Quanex Building Products Corporation’s dividend payout ratio 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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