Wall Street analysts expect Quanex Co. (NYSE:NX) to announce $213.64 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Quanex’s earnings, with estimates ranging from $209.60 million to $217.67 million. Quanex reported sales of $209.13 million during the same quarter last year, which would suggest a positive year over year growth rate of 2.2%. The firm is expected to issue its next quarterly earnings report on Tuesday, May 29th.
On average, analysts expect that Quanex will report full year sales of $213.64 million for the current fiscal year, with estimates ranging from $890.20 million to $891.30 million. For the next fiscal year, analysts forecast that the firm will post sales of $926.15 million per share, with estimates ranging from $925.80 million to $926.50 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Quanex.
Quanex (NYSE:NX) last announced its quarterly earnings results on Monday, March 5th. The construction company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.06. The company had revenue of $191.70 million during the quarter, compared to the consensus estimate of $189.95 million. Quanex had a net margin of 3.17% and a return on equity of 6.72%. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.04) earnings per share.
NX has been the subject of a number of recent research reports. Wedbush downgraded Quanex from an “outperform” rating to a “neutral” rating and set a $25.00 price objective for the company. in a report on Monday, December 18th. Zacks Investment Research downgraded Quanex from a “hold” rating to a “sell” rating in a report on Wednesday, December 13th. Finally, TheStreet downgraded Quanex from a “b-” rating to a “c” rating in a report on Monday, March 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $22.50.
Shares of NYSE:NX traded down $0.20 during trading on Friday, hitting $17.50. 122,041 shares of the company were exchanged, compared to its average volume of 214,831. The company has a market capitalization of $626.01, a PE ratio of 22.79 and a beta of 0.81. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.90 and a current ratio of 1.93. Quanex has a 1-year low of $16.50 and a 1-year high of $24.60.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Thursday, March 15th were issued a $0.04 dividend. The ex-dividend date was Wednesday, March 14th. This represents a $0.16 dividend on an annualized basis and a yield of 0.91%. Quanex’s payout ratio is 20.78%.
In related news, Director Joseph D. Rupp sold 10,000 shares of the stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $17.71, for a total value of $177,100.00. Following the completion of the sale, the director now directly owns 10,000 shares in the company, valued at $177,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.32% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. First Trust Advisors LP bought a new stake in Quanex during the third quarter valued at $626,000. BNP Paribas Arbitrage SA boosted its position in Quanex by 66.7% during the third quarter. BNP Paribas Arbitrage SA now owns 18,062 shares of the construction company’s stock valued at $415,000 after acquiring an additional 7,229 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in Quanex by 59.1% during the third quarter. Municipal Employees Retirement System of Michigan now owns 12,920 shares of the construction company’s stock valued at $297,000 after acquiring an additional 4,800 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Quanex by 1.8% during the third quarter. Russell Investments Group Ltd. now owns 131,996 shares of the construction company’s stock valued at $3,029,000 after acquiring an additional 2,390 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in Quanex by 7.2% during the third quarter. Wells Fargo & Company MN now owns 209,803 shares of the construction company’s stock valued at $4,815,000 after acquiring an additional 14,108 shares during the last quarter.
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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; cabinet doors and other components for original equipment manufacturers (OEMs) in the kitchen and bathroom cabinet industry; and precision-formed metal and wood products, as well as solar panel sealants, trim moldings, vinyl decking and fencing products, water retention barriers, and conservatory roof components.
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