Quanex Building Products Co. Forecasted to Post Q2 2018 Earnings of $0.14 Per Share (NX)

Quanex Building Products Co. (NYSE:NX) – Research analysts at Wedbush issued their Q2 2018 earnings per share (EPS) estimates for shares of Quanex Building Products in a report released on Tuesday. Wedbush analyst J. Mccanless forecasts that the construction company will earn $0.14 per share for the quarter. Wedbush currently has a “Neutral” rating and a $25.00 target price on the stock. Wedbush also issued estimates for Quanex Building Products’ Q3 2018 earnings at $0.40 EPS, Q4 2018 earnings at $0.46 EPS, FY2018 earnings at $0.96 EPS, Q1 2019 earnings at ($0.01) EPS, Q2 2019 earnings at $0.15 EPS, Q3 2019 earnings at $0.43 EPS, Q4 2019 earnings at $0.49 EPS and FY2019 earnings at $1.07 EPS.

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Quanex Building Products (NYSE:NX) last issued its quarterly earnings results on Monday, March 5th. The construction company reported ($0.04) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.06. The firm had revenue of $191.70 million for the quarter, compared to analyst estimates of $189.95 million. Quanex Building Products had a net margin of 3.17% and a return on equity of 6.72%. Quanex Building Products’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period last year, the company posted ($0.04) EPS.

NX has been the topic of a number of other reports. Zacks Investment Research lowered shares of Quanex Building Products from a “hold” rating to a “sell” rating in a research note on Wednesday, December 13th. TheStreet lowered shares of Quanex Building Products from a “b-” rating to a “c” rating in a research note on Monday, March 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $22.50.

Quanex Building Products (NYSE:NX) opened at $17.90 on Friday. The firm has a market cap of $601.46, a PE ratio of 22.12 and a beta of 0.74. Quanex Building Products has a 12 month low of $16.50 and a 12 month high of $24.60. The company has a quick ratio of 0.98, a current ratio of 1.93 and a debt-to-equity ratio of 0.51.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Wednesday, March 14th. Quanex Building Products’s dividend payout ratio (DPR) is 20.51%.

In other Quanex Building Products news, SVP Kevin P. Delaney sold 50,400 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $24.02, for a total value of $1,210,608.00. Following the transaction, the senior vice president now directly owns 111,527 shares of the company’s stock, valued at approximately $2,678,878.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Dewayne Williams sold 8,100 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $23.36, for a total transaction of $189,216.00. Following the completion of the transaction, the vice president now directly owns 16,672 shares in the company, valued at $389,457.92. The disclosure for this sale can be found here. Insiders sold a total of 78,921 shares of company stock worth $1,861,684 over the last three months. Corporate insiders own 5.32% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Quanex Building Products by 6.8% during the 4th quarter. BlackRock Inc. now owns 5,120,523 shares of the construction company’s stock valued at $119,821,000 after buying an additional 324,661 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Quanex Building Products by 1.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,891,182 shares of the construction company’s stock valued at $66,352,000 after buying an additional 31,873 shares during the period. Cooke & Bieler LP raised its position in shares of Quanex Building Products by 0.3% during the 4th quarter. Cooke & Bieler LP now owns 2,335,292 shares of the construction company’s stock valued at $54,646,000 after buying an additional 6,145 shares during the period. Renaissance Technologies LLC raised its position in shares of Quanex Building Products by 31.1% during the 4th quarter. Renaissance Technologies LLC now owns 1,203,700 shares of the construction company’s stock valued at $28,167,000 after buying an additional 285,800 shares during the period. Finally, State Street Corp raised its position in shares of Quanex Building Products by 5.1% during the 2nd quarter. State Street Corp now owns 837,719 shares of the construction company’s stock valued at $17,720,000 after buying an additional 40,540 shares during the period. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

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About Quanex Building Products

Quanex Building Products Corporation manufactures components for original equipment manufacturers (OEM) in the building products industry. The Company’s components can be categorized as window and door (fenestration) components, and kitchen and bath cabinet components. The Company operates through three segments: North American Engineered Components (NA Engineered Components), which consists of four operating segments primarily focused on the fenestration market in North America manufacturing vinyl profiles, insulating glass (IG) spacers, screens and other fenestration components; European Engineered Components (EU Engineered Components), which consists of the United Kingdom-based vinyl extrusion business, manufacturing vinyl profiles and conservatories, and the European insulating glass business manufacturing IG spacers, and North American Cabinet Components (NA Cabinet Components), which consists of the North American cabinet door and components business.

Earnings History and Estimates for Quanex Building Products (NYSE:NX)

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