Wall Street brokerages forecast that Nexeo Solutions Inc (NASDAQ:NXEO) will report $996.84 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Nexeo Solutions’ earnings, with the highest sales estimate coming in at $1.01 billion and the lowest estimate coming in at $987.00 million. Nexeo Solutions posted sales of $917.70 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 8.6%. The company is expected to report its next earnings results on Monday, January 1st.
On average, analysts expect that Nexeo Solutions will report full year sales of $996.84 million for the current year, with estimates ranging from $3.93 billion to $3.98 billion. For the next fiscal year, analysts forecast that the company will post sales of $4.21 billion per share, with estimates ranging from $4.17 billion to $4.26 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Nexeo Solutions.
Nexeo Solutions (NASDAQ:NXEO) last issued its earnings results on Wednesday, February 7th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.08. Nexeo Solutions had a net margin of 1.30% and a return on equity of 22.12%. The company had revenue of $929.60 million during the quarter, compared to analysts’ expectations of $886.00 million.
A number of research analysts have issued reports on the stock. Deutsche Bank assumed coverage on shares of Nexeo Solutions in a report on Wednesday, March 7th. They issued a “hold” rating for the company. ValuEngine raised shares of Nexeo Solutions from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Zacks Investment Research cut shares of Nexeo Solutions from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $9.33.
Nexeo Solutions (NASDAQ NXEO) opened at $10.27 on Friday. Nexeo Solutions has a 1-year low of $6.74 and a 1-year high of $10.70. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.31 and a quick ratio of 1.46. The stock has a market cap of $932.41, a PE ratio of 16.05, a price-to-earnings-growth ratio of 0.42 and a beta of 1.21.
Several hedge funds have recently added to or reduced their stakes in the company. Wittenberg Investment Management Inc. grew its position in shares of Nexeo Solutions by 4.1% in the fourth quarter. Wittenberg Investment Management Inc. now owns 153,750 shares of the basic materials company’s stock valued at $1,399,000 after purchasing an additional 6,110 shares during the last quarter. Teachers Advisors LLC grew its position in shares of Nexeo Solutions by 17.5% in the fourth quarter. Teachers Advisors LLC now owns 55,537 shares of the basic materials company’s stock valued at $505,000 after purchasing an additional 8,276 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Nexeo Solutions by 7.4% in the third quarter. Schwab Charles Investment Management Inc. now owns 161,949 shares of the basic materials company’s stock valued at $1,183,000 after purchasing an additional 11,193 shares during the last quarter. Gotham Asset Management LLC acquired a new stake in shares of Nexeo Solutions in the fourth quarter valued at approximately $111,000. Finally, Voya Investment Management LLC acquired a new stake in shares of Nexeo Solutions in the second quarter valued at approximately $106,000. Institutional investors and hedge funds own 94.72% of the company’s stock.
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Nexeo Solutions Company Profile
Nexeo Solutions Inc, formerly WL Ross Holding Corp., is global distributor of chemicals products in North America and Asia, and plastics products in North America, Europe, the Middle East and Africa (EMEA) and Asia. The Company provides services, such as custom blending, packaging and re-packaging, private-label manufacturing and product testing in the form of chemical analysis, product performance analysis and product development.
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