Quanex Building Products Co. (NX) Expected to Announce Quarterly Sales of $193.30 Million

Analysts expect Quanex Building Products Co. (NYSE:NX) to post $193.30 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided 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 posted sales of $195.10 million during the same quarter last year, which suggests a negative year-over-year growth rate of 0.9%. The company is expected to announce its next quarterly earnings results after the market closes on Monday, March 5th.

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

Quanex Building Products (NYSE:NX) last released its quarterly earnings results on Monday, December 11th. The construction company reported $0.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 firm had revenue of $233.00 million for the quarter, compared to the consensus estimate of $232.47 million. During the same quarter last year, the business posted $0.45 EPS. The company’s revenue for the quarter was down 6.5% on a year-over-year basis.

A number of analysts recently issued reports on the company. Zacks Investment Research raised Quanex Building Products from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Thursday. Wedbush downgraded Quanex Building Products from an “outperform” rating to a “neutral” rating and set a $25.00 target price on the stock. in a research report on Monday, December 18th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Quanex Building Products in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $22.50.

Shares of Quanex Building Products (NYSE NX) opened at $18.40 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.80 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $648.80, a PE ratio of 34.72 and a beta of 0.57. Quanex Building Products has a 12 month low of $17.45 and a 12 month high of $24.60.

In other Quanex Building Products news, Director Susan F. Davis sold 10,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 35,182 shares of the company’s stock, valued at $801,094.14. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Susan F. Davis sold 10,421 shares of the business’s stock in a transaction that occurred 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 directly owns 35,603 shares in the company, valued at approximately $799,999.41. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,921 shares of company stock worth $1,861,684. 5.59% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in NX. Teachers Advisors LLC increased its position in Quanex Building Products by 10.5% during the second quarter. Teachers Advisors LLC now owns 60,138 shares of the construction company’s stock worth $1,272,000 after buying an additional 5,729 shares during the last quarter. BlackRock Inc. increased its position in Quanex Building Products by 0.9% during the second quarter. BlackRock Inc. now owns 4,732,378 shares of the construction company’s stock worth $100,089,000 after buying an additional 40,778 shares during the last quarter. New York State Common Retirement Fund increased its position in Quanex Building Products by 10.8% during the second quarter. New York State Common Retirement Fund now owns 38,100 shares of the construction company’s stock worth $806,000 after buying an additional 3,699 shares during the last quarter. Northern Trust Corp increased its position in Quanex Building Products by 1.1% during the second quarter. Northern Trust Corp now owns 435,605 shares of the construction company’s stock worth $9,214,000 after buying an additional 4,736 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Quanex Building Products by 3.4% during the second quarter. Vanguard Group Inc. now owns 3,131,357 shares of the construction company’s stock worth $66,228,000 after buying an additional 104,038 shares during the last quarter. 98.83% of the stock is currently owned by hedge funds and other institutional investors.

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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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