Equities analysts predict that Quanex Co. (NYSE:NX) will report earnings of $0.14 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Quanex’s earnings, with the lowest EPS estimate coming in at $0.13 and the highest estimate coming in at $0.14. Quanex reported earnings per share of $0.11 during the same quarter last year, which suggests a positive year over year growth rate of 27.3%. The firm is expected to announce its next earnings results on Tuesday, May 29th.
On average, 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 firm will report earnings of $1.06 per share, with EPS estimates ranging from $1.04 to $1.07. Zacks Investment Research’s EPS averages 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) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.06. The company had revenue of $191.70 million for the quarter, compared to the consensus estimate of $189.95 million. Quanex had a net margin of 3.17% and a return on equity of 6.72%. The firm’s revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.04) EPS.
A number of research analysts have commented on the stock. Wedbush downgraded shares of Quanex from an “outperform” rating to a “neutral” rating and set a $25.00 target price on the stock. in a research report on Monday, December 18th. Zacks Investment Research downgraded shares of Quanex from a “hold” rating to a “sell” rating in a research report on Wednesday, December 13th. Finally, TheStreet downgraded shares of Quanex from a “b-” rating to a “c” rating in a research report on Monday, March 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Quanex currently has a consensus rating of “Hold” and a consensus price target of $22.50.
In other news, Director Joseph D. Rupp sold 10,000 shares of the firm’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $17.71, for a total value of $177,100.00. Following the sale, the director now directly owns 10,000 shares in the company, valued at approximately $177,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.32% of the company’s stock.
Several large investors have recently added to or reduced their stakes in NX. BlackRock Inc. boosted its holdings in shares of Quanex by 6.8% in 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 in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Quanex by 31.1% in 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 in the last quarter. Deutsche Bank AG boosted its holdings in shares of Quanex by 636.7% in the 4th quarter. Deutsche Bank AG now owns 237,279 shares of the construction company’s stock valued at $5,550,000 after buying an additional 205,069 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Quanex in the 4th quarter valued at about $2,711,000. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Quanex by 77.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 130,008 shares of the construction company’s stock valued at $3,042,000 after buying an additional 56,623 shares in the last quarter.
NYSE NX traded down $0.20 during trading on Thursday, reaching $17.50. 122,041 shares of the company’s stock traded hands, compared to its average volume of 214,831. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.90 and a current ratio of 1.93. The company has a market capitalization of $626.01, a price-to-earnings ratio of 22.79 and a beta of 0.81. Quanex has a 12-month low of $16.50 and a 12-month high of $24.60.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend was Wednesday, March 14th. Quanex’s dividend payout ratio (DPR) is 20.78%.
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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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