Quanex Building Products Corporation (NX) Forecasted to Post Q1 2018 Earnings of ($0.09) Per Share
Quanex Building Products Corporation (NYSE:NX) – Equities research analysts at Wedbush cut their Q1 2018 earnings per share estimates for Quanex Building Products in a report released on Monday. Wedbush analyst J. Mccanless now expects that the construction company will post earnings of ($0.09) per share for the quarter, down from their prior estimate of ($0.02). Wedbush has a “Neutral” rating and a $25.00 price objective on the stock. Wedbush also issued estimates for Quanex Building Products’ Q3 2018 earnings at $0.36 EPS, Q4 2018 earnings at $0.43 EPS, FY2018 earnings at $0.90 EPS and FY2019 earnings at $0.99 EPS.
Other equities research analysts have also issued reports about the company. TheStreet upgraded Quanex Building Products from a “c” rating to a “b-” rating in a research note on Wednesday, September 6th. KeyCorp restated a “hold” rating on shares of Quanex Building Products in a research note on Friday, October 27th. Finally, Zacks Investment Research lowered Quanex Building Products from a “hold” rating to a “sell” rating in a research note on Wednesday, September 20th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. Quanex Building Products currently has an average rating of “Hold” and an average price target of $25.00.
Quanex Building Products (NYSE:NX) last released its earnings results on Monday, December 11th. The construction company reported $0.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.08. The firm had revenue of $233.00 million during the quarter, compared to analyst estimates of $232.47 million. Quanex Building Products had a return on equity of 7.00% and a net margin of 2.16%. The business’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.45 earnings per share.
A number of institutional investors and hedge funds have recently modified their holdings of NX. Wolverine Trading LLC acquired a new stake in Quanex Building Products during the third quarter valued at approximately $231,000. BNP Paribas Arbitrage SA raised its stake in Quanex Building Products by 36.5% during the second quarter. BNP Paribas Arbitrage SA now owns 10,833 shares of the construction company’s stock valued at $229,000 after buying an additional 2,895 shares in the last quarter. Trexquant Investment LP acquired a new stake in Quanex Building Products during the third quarter valued at approximately $271,000. Municipal Employees Retirement System of Michigan raised its stake in Quanex Building Products by 59.1% during the third quarter. Municipal Employees Retirement System of Michigan now owns 12,920 shares of the construction company’s stock valued at $297,000 after buying an additional 4,800 shares in the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new stake in Quanex Building Products during the third quarter valued at approximately $299,000. 99.81% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Brent L. Korb sold 17,500 shares of the stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $21.15, for a total value of $370,125.00. Following the completion of the transaction, the vice president now owns 94,679 shares of the company’s stock, valued at $2,002,460.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kevin P. Delaney sold 50,400 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $24.02, for a total value of $1,210,608.00. Following the completion of the transaction, the senior vice president now directly owns 111,527 shares of the company’s stock, valued at approximately $2,678,878.54. The disclosure for this sale can be found here. 5.32% of the stock is owned by corporate insiders.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Thursday, December 14th. Quanex Building Products’s payout ratio is 30.19%.
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About Quanex Building Products
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