Equities research analysts predict that Quanex Building Products Co. (NYSE:NX) will post $241.35 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Quanex Building Products’ earnings, with estimates ranging from $239.30 million to $243.40 million. Quanex Building Products posted sales of $244.09 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 1.1%. The business is expected to issue its next earnings results after the market closes on Wednesday, December 11th.
According to Zacks, analysts expect that Quanex Building Products will report full-year sales of $894.84 million for the current financial year, with estimates ranging from $892.77 million to $896.90 million. For the next fiscal year, analysts expect that the business will post sales of $907.45 million, with estimates ranging from $899.30 million to $915.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Quanex Building Products.
Quanex Building Products (NYSE:NX) last released its earnings results on Thursday, September 5th. The construction company reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.05. Quanex Building Products had a positive return on equity of 6.69% and a negative net margin of 1.03%. The firm had revenue of $238.50 million during the quarter, compared to analyst estimates of $245.73 million. During the same period in the prior year, the firm posted $0.33 earnings per share. The business’s quarterly revenue was down .5% compared to the same quarter last year.
Separately, Zacks Investment Research lowered Quanex Building Products from a “hold” rating to a “sell” rating in a research report on Tuesday, November 26th.
NYSE NX traded up $0.43 during trading hours on Friday, hitting $18.90. The company had a trading volume of 4,377 shares, compared to its average volume of 143,939. The company has a market capitalization of $619.43 million, a price-to-earnings ratio of 28.94 and a beta of 1.23. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.15 and a quick ratio of 1.17. Quanex Building Products has a fifty-two week low of $10.70 and a fifty-two week high of $19.55. The firm’s 50 day moving average is $19.04 and its 200 day moving average is $18.02.
In other Quanex Building Products news, SVP Kevin P. Delaney sold 32,400 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $19.17, for a total transaction of $621,108.00. Following the completion of the transaction, the senior vice president now directly owns 151,103 shares of the company’s stock, valued at approximately $2,896,644.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Paul Cornett sold 1,500 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $19.23, for a total transaction 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 approximately $253,778.31. The disclosure for this sale can be found here. Insiders have sold a total of 47,521 shares of company stock valued at $904,137 in the last 90 days. Insiders own 5.98% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Morgan Stanley raised its stake in Quanex Building Products by 166.7% during the second quarter. Morgan Stanley now owns 538,981 shares of the construction company’s stock worth $10,181,000 after acquiring an additional 336,892 shares in the last quarter. Nuveen Asset Management LLC bought a new position in shares of Quanex Building Products in the second quarter valued at approximately $4,938,000. Amundi Pioneer Asset Management Inc. bought a new position in shares of Quanex Building Products in the second quarter valued at approximately $27,809,000. Deprince Race & Zollo Inc. increased its position in shares of Quanex Building Products by 301.5% during the second quarter. Deprince Race & Zollo Inc. now owns 113,818 shares of the construction company’s stock valued at $2,150,000 after acquiring an additional 85,468 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Quanex Building Products by 9.5% during the second quarter. Renaissance Technologies LLC now owns 868,200 shares of the construction company’s stock valued at $16,400,000 after acquiring an additional 75,600 shares during the last quarter. Institutional investors and hedge funds own 97.81% of the company’s stock.
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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