Equities research analysts expect that Quanex Co. (NYSE:NX) will post earnings of $0.14 per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Quanex’s earnings, with the highest EPS estimate coming in at $0.14 and the lowest estimate coming in at $0.13. Quanex reported earnings per share of $0.11 in the same quarter last year, which would suggest a positive year over year growth rate of 27.3%. The business is scheduled to issue its next quarterly earnings results on Tuesday, May 29th.
According to Zacks, analysts expect that Quanex will report full-year earnings of $0.93 per share for the current fiscal year, with EPS estimates ranging from $0.90 to $0.96. For the next year, analysts anticipate that the business will post earnings of $1.06 per share, with EPS estimates ranging from $1.04 to $1.07. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Quanex.
Quanex (NYSE:NX) last posted its quarterly earnings results on Monday, March 5th. The construction company reported ($0.04) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.06. Quanex had a net margin of 3.17% and a return on equity of 6.72%. The firm had revenue of $191.70 million for the quarter, compared to the consensus estimate of $189.95 million. During the same period last year, the firm posted ($0.04) earnings per share. The company’s revenue for the quarter was down 1.7% on a year-over-year basis.
Several equities research analysts recently issued reports on NX shares. TheStreet cut shares of Quanex from a “b-” rating to a “c” rating in a research report on Monday, March 5th. Zacks Investment Research upgraded shares of Quanex from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Thursday, February 15th. Finally, ValuEngine cut shares of Quanex from a “hold” rating to a “sell” rating in a report on Saturday, April 21st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $22.50.
In related news, Director Joseph D. Rupp sold 10,000 shares of Quanex stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $17.71, for a total value of $177,100.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $177,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.32% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. First Trust Advisors LP lifted its stake in Quanex by 14.5% in the fourth quarter. First Trust Advisors LP now owns 31,234 shares of the construction company’s stock worth $731,000 after acquiring an additional 3,962 shares during the last quarter. OppenheimerFunds Inc. lifted its stake in Quanex by 20.6% in the first quarter. OppenheimerFunds Inc. now owns 29,591 shares of the construction company’s stock worth $515,000 after acquiring an additional 5,064 shares during the last quarter. Cooke & Bieler LP lifted its stake in Quanex by 0.3% in the fourth quarter. Cooke & Bieler LP now owns 2,335,292 shares of the construction company’s stock worth $54,646,000 after acquiring an additional 6,145 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Quanex by 3.2% in the fourth quarter. Wells Fargo & Company MN now owns 216,562 shares of the construction company’s stock worth $5,066,000 after acquiring an additional 6,759 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in Quanex in the fourth quarter worth approximately $221,000.
Quanex opened at $17.60 on Wednesday, Marketbeat.com reports. Quanex has a 12-month low of $17.55 and a 12-month high of $17.90. The stock has a market cap of $618.99 million, a P/E ratio of 22.92 and a beta of 0.81. The company has a quick ratio of 0.90, a current ratio of 1.93 and a debt-to-equity ratio of 0.51.
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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