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 (NX) remained flat at $$23.15 during trading on Wednesday. 236,300 shares of the company’s stock were exchanged, compared to its average volume of 145,290. The stock has a market capitalization of $806.78, a price-to-earnings ratio of 30.07 and a beta of 0.70. Quanex Building Products has a 1-year low of $17.45 and a 1-year high of $24.60. The company has a quick ratio of 0.98, a current ratio of 1.80 and a debt-to-equity ratio of 0.54.

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%.

TRADEMARK VIOLATION NOTICE: This article was posted by American Banking News and is the property of of American Banking News. If you are accessing this article on another domain, it was stolen and reposted in violation of US & international trademark and copyright laws. The correct version of this article can be viewed at https://www.americanbankingnews.com/2017/12/20/quanex-building-products-corporation-nx-forecasted-to-post-q1-2018-earnings-of-0-09-per-share.html.

About Quanex Building Products

Earnings History and Estimates for Quanex Building Products (NYSE:NX)

Receive News & Ratings for Quanex Building Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quanex Building Products and related companies with MarketBeat.com's FREE daily email newsletter.