Equities analysts expect that Quanex Building Products Corporation (NYSE:NX) will report $238.85 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Quanex Building Products Corporation’s earnings, with estimates ranging from $237.50 million to $240.20 million. Quanex Building Products Corporation reported sales of $249.17 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 4.1%. The firm is expected to report its next quarterly earnings results on Thursday, December 21st.

On average, analysts expect that Quanex Building Products Corporation will report full year sales of $238.85 million for the current year, with estimates ranging from $871.10 million to $878.70 million. For the next fiscal year, analysts expect that the company will post sales of $911.30 million per share, with estimates ranging from $909.90 million to $912.70 million. Zacks’ sales averages are a mean average based on a survey of research firms that cover Quanex Building Products Corporation.

Quanex Building Products Corporation (NYSE:NX) last issued its earnings results on Wednesday, September 6th. The construction company reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.01). The company had revenue of $229.40 million during the quarter, compared to analysts’ expectations of $235.45 million. Quanex Building Products Corporation had a net margin of 1.52% and a return on equity of 7.87%. The firm’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.27 earnings per share.

Several brokerages recently commented on NX. TheStreet raised shares of Quanex Building Products Corporation from a “c” rating to a “b-” rating in a research note on Wednesday, September 6th. BidaskClub downgraded shares of Quanex Building Products Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Wedbush reissued an “outperform” rating and set a $25.00 price objective on shares of Quanex Building Products Corporation in a research report on Wednesday, July 19th. KeyCorp reissued a “hold” rating on shares of Quanex Building Products Corporation in a research report on Friday, September 22nd. Finally, Zacks Investment Research downgraded shares of Quanex Building Products Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, September 20th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $24.00.

Shares of Quanex Building Products Corporation (NX) remained flat at $22.70 during mid-day trading on Thursday. 112,625 shares of the company’s stock were exchanged. The company has a market capitalization of $782.17 million, a price-to-earnings ratio of 57.76 and a beta of 0.67. The stock’s 50-day moving average price is $21.35 and its 200-day moving average price is $20.67. Quanex Building Products Corporation has a 1-year low of $15.41 and a 1-year high of $23.60.

The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Monday, September 18th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend was Friday, September 15th. Quanex Building Products Corporation’s dividend payout ratio is currently 42.11%.

In other Quanex Building Products Corporation news, VP Brent L. Korb sold 17,500 shares of the company’s stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $21.15, for a total transaction of $370,125.00. Following the transaction, the vice president now owns 94,679 shares in the company, valued at approximately $2,002,460.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.32% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its stake in shares of Quanex Building Products Corporation by 3.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,790 shares of the construction company’s stock worth $588,000 after purchasing an additional 970 shares during the period. State Street Corp lifted its stake in shares of Quanex Building Products Corporation by 5.1% in the 2nd quarter. State Street Corp now owns 837,719 shares of the construction company’s stock worth $17,720,000 after purchasing an additional 40,540 shares during the period. Voya Investment Management LLC lifted its stake in shares of Quanex Building Products Corporation by 140.9% in the 2nd quarter. Voya Investment Management LLC now owns 41,144 shares of the construction company’s stock worth $870,000 after purchasing an additional 24,067 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Quanex Building Products Corporation by 4.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,859,309 shares of the construction company’s stock worth $60,474,000 after purchasing an additional 111,005 shares during the period. Finally, Citadel Advisors LLC lifted its stake in shares of Quanex Building Products Corporation by 1.7% in the 2nd quarter. Citadel Advisors LLC now owns 53,482 shares of the construction company’s stock worth $1,131,000 after purchasing an additional 886 shares during the period. Hedge funds and other institutional investors own 99.75% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “$238.85 Million in Sales Expected for Quanex Building Products Corporation (NX) This Quarter” was originally reported by Daily Political and is the property of of Daily Political. If you are reading this article on another website, it was copied illegally and republished in violation of U.S. and international copyright legislation. The original version of this article can be accessed at https://www.dailypolitical.com/2017/10/15/238-85-million-in-sales-expected-for-quanex-building-products-corporation-nx-this-quarter.html.

Quanex Building Products Corporation Company Profile

Get a free copy of the Zacks research report on Quanex Building Products Corporation (NX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Quanex Building Products Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quanex Building Products Corporation and related companies with MarketBeat.com's FREE daily email newsletter.