Brokerages predict that Continental Building (NYSE:CBPX) will post $117.70 million in sales for the current quarter, Zacks reports. Five analysts have made estimates for Continental Building’s earnings. The lowest sales estimate is $115.00 million and the highest is $119.80 million. Continental Building posted sales of $120.62 million during the same quarter last year, which suggests a negative year over year growth rate of 2.4%. The company is expected to announce its next earnings report on Thursday, May 3rd.
On average, analysts expect that Continental Building will report full year sales of $514.77 million for the current year, with estimates ranging from $508.60 million to $518.10 million. For the next financial year, analysts forecast that the firm will report sales of $550.14 million per share, with estimates ranging from $543.63 million to $555.90 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Continental Building.
Continental Building (NYSE:CBPX) last issued its earnings results on Thursday, February 22nd. The construction company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.08. The company had revenue of $131.39 million for the quarter, compared to analyst estimates of $125.40 million. Continental Building had a net margin of 12.23% and a return on equity of 16.58%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 EPS.
CBPX has been the topic of several recent research reports. Zacks Investment Research raised shares of Continental Building from a “sell” rating to a “hold” rating in a research note on Tuesday, January 9th. SunTrust Banks lowered shares of Continental Building from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Deutsche Bank lifted their price objective on shares of Continental Building from $28.00 to $29.00 and gave the stock a “hold” rating in a research note on Tuesday, February 27th. Raymond James initiated coverage on shares of Continental Building in a research note on Tuesday, March 13th. They set a “market perform” rating on the stock. Finally, Citigroup reduced their price objective on shares of Continental Building from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 27th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Continental Building presently has an average rating of “Hold” and an average price target of $30.29.
Shares of NYSE CBPX traded down $0.05 during mid-day trading on Friday, hitting $29.35. The company’s stock had a trading volume of 95,854 shares, compared to its average volume of 235,201. The firm has a market capitalization of $1,093.28, a PE ratio of 22.07 and a beta of 1.12. The company has a current ratio of 3.32, a quick ratio of 2.76 and a debt-to-equity ratio of 0.83. Continental Building has a one year low of $21.00 and a one year high of $31.00.
Continental Building announced that its Board of Directors has approved a stock repurchase program on Thursday, February 22nd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the construction company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.
Hedge funds have recently made changes to their positions in the business. Ladenburg Thalmann Financial Services Inc. raised its holdings in Continental Building by 154.3% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,983 shares of the construction company’s stock worth $112,000 after buying an additional 2,417 shares during the period. Citadel Advisors LLC acquired a new stake in Continental Building during the 3rd quarter worth approximately $235,000. Minerva Advisors LLC acquired a new stake in Continental Building during the 4th quarter worth approximately $239,000. Teacher Retirement System of Texas acquired a new stake in Continental Building during the 4th quarter worth approximately $379,000. Finally, Stone Ridge Asset Management LLC acquired a new stake in Continental Building during the 4th quarter worth approximately $411,000.
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Continental Building Company Profile
Continental Building Products, Inc manufactures and sells gypsum wallboard and complementary finishing products in the eastern United States and eastern Canada. The company sells its products to gypsum wallboard distributors, buying groups, wholesalers, and mass merchants in the new residential, repair and remodel, and commercial construction markets under the LiftLite, Mold Defense, and Weather Defense brand names.
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