Brokerages Anticipate Quanex Building Products Co. (NX) to Post $0.13 EPS

Equities research analysts forecast that Quanex Building Products Co. (NYSE:NX) will report $0.13 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Quanex Building Products’ earnings, with the lowest EPS estimate coming in at $0.12 and the highest estimate coming in at $0.13. Quanex Building Products reported earnings per share of $0.14 in the same quarter last year, which suggests a negative year over year growth rate of 7.1%. The company is scheduled to report its next quarterly earnings report on Monday, June 3rd.

According to Zacks, analysts expect that Quanex Building Products will report full year earnings of $0.76 per share for the current year, with EPS estimates ranging from $0.67 to $0.85. For the next year, analysts anticipate that the business will post earnings of $0.87 per share, with EPS estimates ranging from $0.73 to $1.00. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Quanex Building Products.

Quanex Building Products (NYSE:NX) last announced its quarterly earnings data on Tuesday, March 5th. The construction company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.04. Quanex Building Products had a net margin of 1.98% and a return on equity of 5.32%. The company had revenue of $196.81 million during the quarter, compared to analysts’ expectations of $195.80 million.

Several analysts recently issued reports on NX shares. Seaport Global Securities started coverage on shares of Quanex Building Products in a research note on Friday, March 15th. They set a “buy” rating and a $19.00 price objective for the company. Zacks Investment Research raised shares of Quanex Building Products from a “sell” rating to a “hold” rating in a research note on Thursday, February 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $17.00.

Several institutional investors have recently bought and sold shares of NX. Bank of New York Mellon Corp grew its holdings in shares of Quanex Building Products by 4.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 466,936 shares of the construction company’s stock worth $8,498,000 after acquiring an additional 17,789 shares during the period. MetLife Investment Advisors LLC grew its holdings in shares of Quanex Building Products by 51.6% during the 3rd quarter. MetLife Investment Advisors LLC now owns 26,831 shares of the construction company’s stock worth $488,000 after acquiring an additional 9,134 shares during the period. Legal & General Group Plc grew its holdings in shares of Quanex Building Products by 7.5% during the 3rd quarter. Legal & General Group Plc now owns 82,932 shares of the construction company’s stock worth $1,511,000 after acquiring an additional 5,821 shares during the period. Vanguard Group Inc. grew its holdings in shares of Quanex Building Products by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 3,500,558 shares of the construction company’s stock worth $63,709,000 after acquiring an additional 75,839 shares during the period. Finally, Marshall Wace LLP purchased a new position in shares of Quanex Building Products during the 3rd quarter worth approximately $4,754,000. 95.07% of the stock is owned by institutional investors and hedge funds.

NYSE NX traded up $0.36 during trading hours on Tuesday, hitting $16.92. 132,752 shares of the company’s stock traded hands, compared to its average volume of 114,608. Quanex Building Products has a 52-week low of $10.70 and a 52-week high of $20.30. The stock has a market cap of $551.32 million, a PE ratio of 26.03 and a beta of 1.07. The company has a current ratio of 2.48, a quick ratio of 1.35 and a debt-to-equity ratio of 0.59.

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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