Q2 2023 EPS Estimates for BlueLinx Holdings Inc. Decreased by Seaport Res Ptn (NYSE:BXC)

BlueLinx Holdings Inc. (NYSE:BXC – Get Rating) – Investment analysts at Seaport Res Ptn cut their Q2 2023 earnings per share estimates for BlueLinx in a research report issued on Monday, May 22nd. Seaport Res Ptn analyst W. Liptak now expects that the construction company will post earnings of $3.30 per share for the quarter, down from their previous estimate of $3.95. The consensus estimate for BlueLinx’s current full-year earnings is $11.05 per share. Seaport Res Ptn also issued estimates for BlueLinx’s FY2023 earnings at $11.05 EPS, Q1 2024 earnings at $3.16 EPS, Q3 2024 earnings at $3.95 EPS, Q4 2024 earnings at $3.08 EPS and FY2024 earnings at $14.18 EPS.

BlueLinx (NYSE:BXC – Get Rating) last issued its earnings results on Tuesday, February 21st. The construction company reported $3.66 EPS for the quarter, topping the consensus estimate of $2.81 by $0.85. The firm had revenue of $847.77 million during the quarter, compared to the consensus estimate of $930.00 million. BlueLinx had a return on equity of 32.60% and a net margin of 4.58%.

Several other research analysts also recently issued reports on BXC. StockNews.com assumed coverage on BlueLinx in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Benchmark upped their price objective on BlueLinx from $95.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, February 23rd.

BlueLinx Stock Performance

BlueLinx stock opened at $82.60 on Wednesday. The business has a 50 day moving average of $72.29 and a 200-day moving average of $75.33. BlueLinx has a 1 year low of $57.49 and a 1 year high of $93.22. The company has a debt-to-equity ratio of 1.03, a current ratio of 4.88 and a quick ratio of 3.08. The company has a market capitalization of $750.75 million, a P/E ratio of 4.28 and a beta of 1.85.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BXC. MetLife Investment Management LLC raised its holdings in BlueLinx by 45.7% during the 1st quarter. MetLife Investment Management LLC now owns 5,061 shares of the construction company’s stock worth $364,000 after purchasing an additional 1,588 shares during the last quarter. Panagora Asset Management Inc. raised its holdings in BlueLinx by 7.9% during the 1st quarter. Panagora Asset Management Inc. now owns 23,579 shares of the construction company’s stock worth $1,695,000 after purchasing an additional 1,726 shares during the last quarter. Rhumbline Advisers grew its position in shares of BlueLinx by 10.3% during the 1st quarter. Rhumbline Advisers now owns 9,560 shares of the construction company’s stock worth $687,000 after buying an additional 893 shares during the period. Dimensional Fund Advisors LP grew its position in shares of BlueLinx by 75.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 123,637 shares of the construction company’s stock worth $8,888,000 after buying an additional 53,217 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of BlueLinx by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 540,929 shares of the construction company’s stock worth $38,883,000 after buying an additional 38,787 shares during the period. Institutional investors own 84.90% of the company’s stock.

About BlueLinx

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BlueLinx Holdings, Inc engages in the distribution of building and industrial products. Its products include structural and specialty. The Structural products consist of plywood, oriented strand board, rebar and remesh, lumber, spruce and other wood used for structural support, walls, and flooring in construction projects.