Quanex Building Products Corporation (NX) Expected to Announce Earnings of $0.37 Per Share

Brokerages expect Quanex Building Products Corporation (NYSE:NX) to report earnings of $0.37 per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Quanex Building Products Corporation’s earnings. The highest EPS estimate is $0.46 and the lowest is $0.28. Quanex Building Products Corporation posted earnings of $0.45 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 17.8%. The firm is scheduled to report its next earnings results on Thursday, December 21st.

According to Zacks, analysts expect that Quanex Building Products Corporation will report full-year earnings of $0.85 per share for the current year. For the next fiscal year, analysts forecast that the company will post earnings of $0.85 per share, with EPS estimates ranging from $0.69 to $1.01. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that cover Quanex Building Products Corporation.

Quanex Building Products Corporation (NYSE:NX) last issued its earnings results on Wednesday, September 6th. The construction company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). Quanex Building Products Corporation had a net margin of 1.52% and a return on equity of 7.87%. The firm had revenue of $229.40 million during the quarter, compared to analysts’ expectations of $235.45 million. During the same quarter last year, the firm earned $0.27 EPS. The business’s revenue for the quarter was down 7.5% compared to the same quarter last year.

Several brokerages have issued reports on NX. TheStreet upgraded shares of Quanex Building Products Corporation from a “c” rating to a “b-” rating in a research report on Wednesday, September 6th. BidaskClub downgraded shares of Quanex Building Products Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research upgraded shares of Quanex Building Products Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Sidoti began coverage on shares of Quanex Building Products Corporation in a research report on Monday, August 7th. They set a “buy” rating for the company. Finally, KeyCorp restated a “hold” rating on shares of Quanex Building Products Corporation in a research report on Friday, September 22nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. Quanex Building Products Corporation presently has a consensus rating of “Hold” and a consensus price target of $24.00.

Quanex Building Products Corporation (NYSE NX) traded down 0.22% during trading on Friday, hitting $22.25. The company had a trading volume of 125,034 shares. The stock has a 50-day moving average of $22.00 and a 200-day moving average of $20.85. The stock has a market capitalization of $766.67 million, a PE ratio of 56.62 and a beta of 0.67. Quanex Building Products Corporation has a one year low of $15.40 and a one year high of $23.60.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Monday, September 18th were given a $0.04 dividend. The ex-dividend date was Friday, September 15th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.72%. Quanex Building Products Corporation’s payout ratio is 42.11%.

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In other Quanex Building Products Corporation news, VP Brent L. Korb sold 17,500 shares of the business’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $21.15, for a total transaction of $370,125.00. Following the completion of the transaction, the vice president now directly owns 94,679 shares in the company, valued at $2,002,460.85. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.32% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in NX. Parametric Portfolio Associates LLC raised its position in Quanex Building Products Corporation by 7.5% during the first quarter. Parametric Portfolio Associates LLC now owns 61,042 shares of the construction company’s stock valued at $1,236,000 after purchasing an additional 4,279 shares in the last quarter. Prudential Financial Inc. raised its position in Quanex Building Products Corporation by 0.6% during the first quarter. Prudential Financial Inc. now owns 58,566 shares of the construction company’s stock valued at $1,186,000 after purchasing an additional 340 shares in the last quarter. Arizona State Retirement System raised its position in Quanex Building Products Corporation by 1.7% during the first quarter. Arizona State Retirement System now owns 17,936 shares of the construction company’s stock valued at $363,000 after purchasing an additional 300 shares in the last quarter. OppenheimerFunds Inc. raised its position in Quanex Building Products Corporation by 25.8% during the first quarter. OppenheimerFunds Inc. now owns 34,784 shares of the construction company’s stock valued at $704,000 after purchasing an additional 7,142 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in Quanex Building Products Corporation by 4.2% during the first quarter. Principal Financial Group Inc. now owns 261,512 shares of the construction company’s stock valued at $5,296,000 after purchasing an additional 10,572 shares in the last quarter. Institutional investors and hedge funds own 99.79% of the company’s stock.

About Quanex Building Products Corporation

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