Wall Street analysts expect Nexeo Solutions Inc (NASDAQ:NXEO) to post $1.01 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Nexeo Solutions’ earnings. The highest sales estimate is $1.02 billion and the lowest is $994.50 million. Nexeo Solutions posted sales of $942.70 million during the same quarter last year, which suggests a positive year over year growth rate of 7.1%. The company is expected to announce its next quarterly earnings results on Tuesday, August 14th.
According to Zacks, analysts expect that Nexeo Solutions will report full year sales of $3.99 billion for the current financial year, with estimates ranging from $3.98 billion to $4.02 billion. For the next financial year, analysts forecast that the firm will report sales of $4.24 billion per share, with estimates ranging from $4.21 billion to $4.26 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow Nexeo Solutions.
Nexeo Solutions (NASDAQ:NXEO) last released its earnings results on Wednesday, May 9th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.05). The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $996.84 million. Nexeo Solutions had a net margin of 1.30% and a return on equity of 11.16%.
Several research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Nexeo Solutions from a “hold” rating to a “sell” rating in a report on Tuesday, May 15th. ValuEngine lowered shares of Nexeo Solutions from a “buy” rating to a “hold” rating in a report on Thursday, May 3rd. Jefferies Financial Group upgraded shares of Nexeo Solutions from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Monday, March 26th. Finally, Deutsche Bank assumed coverage on shares of Nexeo Solutions in a report on Wednesday, March 7th. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $11.38.
Several hedge funds have recently made changes to their positions in NXEO. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Nexeo Solutions during the 1st quarter worth about $18,111,000. Thrivent Financial for Lutherans purchased a new position in Nexeo Solutions in the first quarter valued at approximately $13,883,000. Allianz Asset Management GmbH purchased a new position in Nexeo Solutions in the fourth quarter valued at approximately $5,208,000. LSV Asset Management raised its holdings in Nexeo Solutions by 425.1% in the first quarter. LSV Asset Management now owns 525,100 shares of the basic materials company’s stock valued at $5,618,000 after buying an additional 425,100 shares during the period. Finally, Millennium Management LLC raised its holdings in Nexeo Solutions by 301.1% in the fourth quarter. Millennium Management LLC now owns 546,901 shares of the basic materials company’s stock valued at $4,977,000 after buying an additional 410,548 shares during the period. Institutional investors and hedge funds own 96.06% of the company’s stock.
Nexeo Solutions opened at $9.33 on Wednesday, Marketbeat reports. The stock has a market capitalization of $826.52 million, a price-to-earnings ratio of 28.30, a PEG ratio of 0.67 and a beta of 0.25. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.37 and a current ratio of 2.10. Nexeo Solutions has a 12-month low of $6.74 and a 12-month high of $11.14.
Nexeo Solutions Company Profile
Nexeo Solutions, Inc operates as a chemical and plastic products distributor in North America, Europe, the Middle East, Africa, and Asia. The company operates through Chemicals, Plastics, and Environmental Services segments. It provides approximately 22,000 products used in various industries, including household, industrial and institutional, lubricants, architectural coatings, adhesives, sealants, elastomers, automotive, healthcare, personal care, oil and gas, and construction.
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