Q2 2018 EPS Estimates for Quanex Building Products Co. Raised by Wedbush (NYSE:NX)

Quanex Building Products Co. (NYSE:NX) – Research analysts at Wedbush raised their Q2 2018 EPS estimates for shares of Quanex Building Products in a note issued to investors on Monday, Zacks Investment Research reports. Wedbush analyst J. Mccanless now anticipates that the construction company will post earnings per share of $0.19 for the quarter, up from their prior forecast of $0.15. Wedbush currently has a “Neutral” rating and a $25.00 price objective on the stock. Wedbush also issued estimates for Quanex Building Products’ Q1 2019 earnings at ($0.08) EPS, Q2 2019 earnings at $0.21 EPS, Q3 2019 earnings at $0.39 EPS and Q4 2019 earnings at $0.47 EPS.

Quanex Building Products (NYSE:NX) last posted its earnings results on Monday, December 11th. The construction company reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.08. The business had revenue of $233.00 million for the quarter, compared to analyst estimates of $232.47 million. Quanex Building Products had a net margin of 2.16% and a return on equity of 7.00%. Quanex Building Products’s revenue was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.45 EPS.

A number of other brokerages have also commented on NX. KeyCorp reissued a “hold” rating on shares of Quanex Building Products in a report on Friday, October 27th. Zacks Investment Research lowered shares of Quanex Building Products from a “hold” rating to a “sell” rating in a report on Wednesday, September 20th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. Quanex Building Products presently has an average rating of “Hold” and an average price target of $25.00.

Shares of Quanex Building Products (NYSE NX) opened at $22.60 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.98 and a current ratio of 1.80. The firm has a market cap of $796.32, a P/E ratio of 42.64 and a beta of 0.70. Quanex Building Products has a twelve month low of $17.45 and a twelve month high of $24.60.

Several hedge funds have recently added to or reduced their stakes in NX. Teachers Advisors LLC grew its holdings in shares of Quanex Building Products by 2.3% during the 1st quarter. Teachers Advisors LLC now owns 54,409 shares of the construction company’s stock valued at $1,102,000 after purchasing an additional 1,238 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Quanex Building Products by 83.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 129,606 shares of the construction company’s stock valued at $2,741,000 after purchasing an additional 58,948 shares during the last quarter. Texas Permanent School Fund grew its holdings in shares of Quanex Building Products by 1.0% during the 2nd quarter. Texas Permanent School Fund now owns 25,148 shares of the construction company’s stock valued at $532,000 after purchasing an additional 238 shares during the last quarter. TD Asset Management Inc. grew its holdings in shares of Quanex Building Products by 9.6% during the 2nd quarter. TD Asset Management Inc. now owns 42,717 shares of the construction company’s stock valued at $903,000 after purchasing an additional 3,747 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Quanex Building Products by 9.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 272,261 shares of the construction company’s stock valued at $5,759,000 after purchasing an additional 22,637 shares during the last quarter. 99.80% of the stock is currently owned by institutional investors.

In related news, Director Susan F. Davis sold 10,421 shares of the stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $22.47, for a total transaction of $234,159.87. Following the transaction, the director now owns 35,603 shares of the company’s stock, valued at approximately $799,999.41. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Kevin P. Delaney sold 50,400 shares of the stock in a transaction on Friday, December 15th. The shares were sold at an average price of $24.02, for a total transaction of $1,210,608.00. Following the transaction, the senior vice president now directly owns 111,527 shares in the company, valued at approximately $2,678,878.54. The disclosure for this sale can be found here. Insiders sold a total of 78,921 shares of company stock worth $1,861,684 in the last three months. Insiders own 5.32% of the company’s stock.

The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend was Thursday, December 14th. Quanex Building Products’s payout ratio is 30.19%.

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