Zacks: Brokerages Anticipate Quanex Building Products Co. (NX) Will Announce Quarterly Sales of $193.30 Million

Wall Street analysts expect Quanex Building Products Co. (NYSE:NX) to announce sales of $193.30 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Quanex Building Products’ earnings, with the lowest sales estimate coming in at $190.60 million and the highest estimate coming in at $196.00 million. Quanex Building Products reported sales of $195.10 million in the same quarter last year, which indicates a negative year-over-year growth rate of 0.9%. The firm is scheduled to announce its next earnings results on Monday, March 5th.

On average, analysts expect that Quanex Building Products will report full year sales of $193.30 million for the current fiscal year, with estimates ranging from $893.30 million to $895.00 million. For the next financial year, analysts anticipate that the company will post sales of $928.35 million per share, with estimates ranging from $927.50 million to $929.20 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Quanex Building Products.

Quanex Building Products (NYSE:NX) last issued its quarterly earnings results on Monday, December 11th. The construction company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. Quanex Building Products had a return on equity of 7.00% and a net margin of 2.16%. The company had revenue of $233.00 million during the quarter, compared to analyst estimates of $232.47 million. During the same period in the previous year, the company earned $0.45 earnings per share. The company’s quarterly revenue was down 6.5% compared to the same quarter last year.

NX has been the subject of a number of recent research reports. Zacks Investment Research lowered Quanex Building Products from a “hold” rating to a “sell” rating in a research note on Wednesday, December 13th. Wedbush lowered Quanex Building Products from an “outperform” rating to a “neutral” rating and set a $25.00 target price for the company. in a research note on Monday, December 18th. Finally, KeyCorp restated a “hold” rating on shares of Quanex Building Products in a research note on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $25.00.

In other Quanex Building Products news, Director Susan F. Davis sold 10,000 shares of the stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $22.77, for a total transaction of $227,700.00. Following the completion of the transaction, the director now directly owns 35,182 shares in the company, valued at $801,094.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan F. Davis sold 10,421 shares of the stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $22.47, for a total value of $234,159.87. Following the transaction, the director now owns 35,603 shares of the company’s stock, valued at $799,999.41. The disclosure for this sale can be found here. Insiders sold 78,921 shares of company stock valued at $1,861,684 over the last 90 days. 5.32% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Wolverine Trading LLC acquired a new position in Quanex Building Products during the third quarter worth $231,000. Trexquant Investment LP acquired a new position in Quanex Building Products during the third quarter worth $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 worth $297,000 after acquiring an additional 4,800 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in Quanex Building Products during the third quarter worth $299,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Quanex Building Products during the third quarter worth $310,000. Hedge funds and other institutional investors own 99.80% of the company’s stock.

Quanex Building Products (NYSE:NX) opened at $20.65 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.80 and a quick ratio of 0.98. The company has a market capitalization of $731.85, a price-to-earnings ratio of 38.96 and a beta of 0.70. Quanex Building Products has a 12 month low of $17.45 and a 12 month high of $24.60.

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Quanex Building Products Company Profile

Quanex Building Products Corporation manufactures components for original equipment manufacturers (OEM) in the building products industry. The Company’s components can be categorized as window and door (fenestration) components, and kitchen and bath cabinet components. The Company operates through three segments: North American Engineered Components (NA Engineered Components), which consists of four operating segments primarily focused on the fenestration market in North America manufacturing vinyl profiles, insulating glass (IG) spacers, screens and other fenestration components; European Engineered Components (EU Engineered Components), which consists of the United Kingdom-based vinyl extrusion business, manufacturing vinyl profiles and conservatories, and the European insulating glass business manufacturing IG spacers, and North American Cabinet Components (NA Cabinet Components), which consists of the North American cabinet door and components business.

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

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