Zacks: Brokerages Anticipate Quanex Building Products Co. (NYSE:NX) Will Announce Earnings of $0.40 Per Share

Analysts expect Quanex Building Products Co. (NYSE:NX) to report $0.40 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Quanex Building Products’ earnings. The lowest EPS estimate is $0.37 and the highest is $0.42. Quanex Building Products posted earnings per share of $0.22 in the same quarter last year, which would indicate a positive year-over-year growth rate of 81.8%. The business is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, December 11th.

According to Zacks, analysts expect that Quanex Building Products will report full-year earnings of $0.92 per share for the current fiscal year, with EPS estimates ranging from $0.89 to $0.95. For the next financial year, analysts anticipate that the company will report earnings of $1.05 per share, with EPS estimates ranging from $1.00 to $1.10. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Quanex Building Products.

Quanex Building Products (NYSE:NX) last posted its quarterly earnings results on Thursday, September 5th. The construction company reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.05. Quanex Building Products had a negative net margin of 1.03% and a positive return on equity of 6.69%. The business had revenue of $238.50 million for the quarter, compared to analyst estimates of $245.73 million. During the same quarter last year, the business posted $0.33 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis.

Separately, Zacks Investment Research lowered Quanex Building Products from a “hold” rating to a “sell” rating in a research note on Tuesday, November 26th.

In other news, SVP Paul Cornett sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $19.23, for a total value of $28,845.00. Following the completion of the transaction, the senior vice president now owns 13,197 shares of the company’s stock, valued at $253,778.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kevin P. Delaney sold 32,400 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $19.17, for a total value of $621,108.00. Following the transaction, the senior vice president now directly owns 151,103 shares of the company’s stock, valued at $2,896,644.51. The disclosure for this sale can be found here. Insiders sold 47,521 shares of company stock valued at $904,137 in the last three months. Company insiders own 5.98% of the company’s stock.

A number of hedge funds have recently made changes to their positions in NX. FMR LLC grew its stake in Quanex Building Products by 591.7% in the first quarter. FMR LLC now owns 1,757 shares of the construction company’s stock valued at $28,000 after acquiring an additional 1,503 shares during the period. Smith Asset Management Group LP acquired a new position in shares of Quanex Building Products during the second quarter worth approximately $69,000. Meeder Asset Management Inc. raised its position in shares of Quanex Building Products by 257.3% during the second quarter. Meeder Asset Management Inc. now owns 6,282 shares of the construction company’s stock worth $118,000 after purchasing an additional 4,524 shares during the period. AQR Capital Management LLC acquired a new position in shares of Quanex Building Products during the second quarter worth approximately $211,000. Finally, HighTower Advisors LLC acquired a new position in shares of Quanex Building Products during the second quarter worth approximately $246,000. Institutional investors and hedge funds own 97.81% of the company’s stock.

Shares of NX stock traded up $0.43 during trading hours on Friday, reaching $18.90. The company’s stock had a trading volume of 4,377 shares, compared to its average volume of 143,939. The firm’s 50 day simple moving average is $19.04 and its 200-day simple moving average is $18.02. The company has a market capitalization of $619.43 million, a price-to-earnings ratio of 28.94 and a beta of 1.23. Quanex Building Products has a fifty-two week low of $10.70 and a fifty-two week high of $19.55. The company has a quick ratio of 1.17, a current ratio of 2.15 and a debt-to-equity ratio of 0.53.

About Quanex Building Products

Quanex Building Products Corporation, together with its subsidiaries, provides components for the fenestration industry worldwide. It operates through three segments: North American Engineered Components, European Engineered Components, and North American Cabinet Components. The company offers flexible insulating glass spacers, extruded vinyl profiles, window and door screens, and precision-formed metal and wood products, as well as cabinet doors and other components for original equipment manufacturers (OEMs) in the kitchen and bathroom cabinet industry.

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