Zacks: Brokerages Anticipate Continental Building Products, Inc. (CBPX) Will Post Quarterly Sales of $120.00 Million
Wall Street brokerages predict that Continental Building Products, Inc. (NYSE:CBPX) will announce $120.00 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Continental Building Products’ earnings, with the lowest sales estimate coming in at $115.70 million and the highest estimate coming in at $124.30 million. Continental Building Products posted sales of $114.56 million during the same quarter last year, which suggests a positive year-over-year growth rate of 4.7%. The company is expected to announce its next quarterly earnings results after the market closes on Thursday, November 9th.
On average, analysts expect that Continental Building Products will report full year sales of $120.00 million for the current fiscal year, with estimates ranging from $482.30 million to $493.99 million. For the next financial year, analysts forecast that the business will report sales of $523.11 million per share, with estimates ranging from $515.35 million to $534.47 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Continental Building Products.
Continental Building Products (NYSE:CBPX) last issued its earnings results on Thursday, August 3rd. The construction company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Continental Building Products had a net margin of 9.16% and a return on equity of 15.45%. The firm had revenue of $120.60 million during the quarter, compared to analysts’ expectations of $127.60 million. During the same quarter last year, the firm earned $0.31 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year.
Several research analysts recently commented on CBPX shares. Zacks Investment Research raised shares of Continental Building Products from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Monday, July 3rd. BidaskClub raised shares of Continental Building Products from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Finally, SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Continental Building Products in a report on Monday, October 2nd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Continental Building Products has an average rating of “Hold” and a consensus price target of $27.25.
A number of large investors have recently made changes to their positions in CBPX. Bessemer Group Inc. bought a new position in Continental Building Products in the 2nd quarter valued at $100,000. BNP Paribas Arbitrage SA boosted its holdings in Continental Building Products by 128.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,645 shares of the construction company’s stock valued at $132,000 after purchasing an additional 3,179 shares during the period. First Mercantile Trust Co. boosted its holdings in Continental Building Products by 1.8% in the 2nd quarter. First Mercantile Trust Co. now owns 6,230 shares of the construction company’s stock valued at $145,000 after purchasing an additional 110 shares during the period. SG Americas Securities LLC boosted its holdings in Continental Building Products by 26.7% in the 1st quarter. SG Americas Securities LLC now owns 8,340 shares of the construction company’s stock valued at $204,000 after purchasing an additional 1,759 shares during the period. Finally, Legal & General Group Plc boosted its holdings in Continental Building Products by 9.5% in the 2nd quarter. Legal & General Group Plc now owns 9,279 shares of the construction company’s stock valued at $216,000 after purchasing an additional 802 shares during the period. 98.95% of the stock is owned by hedge funds and other institutional investors.
Continental Building Products (NYSE CBPX) opened at 26.80 on Friday. Continental Building Products has a 52 week low of $18.35 and a 52 week high of $26.95. The firm has a 50-day moving average price of $25.52 and a 200-day moving average price of $23.92. The stock has a market cap of $1.03 billion, a P/E ratio of 24.66 and a beta of 1.28.
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Continental Building Products Company Profile
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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