Sidoti Csr Has Pessimistic View of NX FY2024 Earnings

Quanex Building Products Co. (NYSE:NX) – Investment analysts at Sidoti Csr decreased their FY2024 earnings per share (EPS) estimates for shares of Quanex Building Products in a report issued on Wednesday, November 27th. Sidoti Csr analyst J. Romero now expects that the construction company will earn $2.10 per share for the year, down from their prior forecast of $2.15. The consensus estimate for Quanex Building Products’ current full-year earnings is $2.15 per share. Sidoti Csr also issued estimates for Quanex Building Products’ Q4 2024 earnings at $0.53 EPS and FY2026 earnings at $2.64 EPS.

Several other research firms have also issued reports on NX. StockNews.com raised shares of Quanex Building Products from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Benchmark reaffirmed a “buy” rating and issued a $38.00 price target on shares of Quanex Building Products in a research report on Wednesday, September 11th.

Quanex Building Products Price Performance

NYSE NX opened at $28.81 on Thursday. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $1.36 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 0.75 and a beta of 1.25. Quanex Building Products has a 12-month low of $24.85 and a 12-month high of $39.31. The company has a 50 day moving average price of $29.21 and a two-hundred day moving average price of $29.36.

Quanex Building Products (NYSE:NX) last posted its quarterly earnings results on Thursday, September 5th. The construction company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. The company had revenue of $280.35 million during the quarter, compared to the consensus estimate of $278.00 million. Quanex Building Products had a return on equity of 14.68% and a net margin of 6.88%. During the same period last year, the business earned $0.97 EPS.

Quanex Building Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.32 dividend on an annualized basis and a yield of 1.11%. Quanex Building Products’s payout ratio is presently 14.22%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NX. GAMMA Investing LLC boosted its position in shares of Quanex Building Products by 65.4% in the third quarter. GAMMA Investing LLC now owns 994 shares of the construction company’s stock valued at $28,000 after acquiring an additional 393 shares during the period. SummerHaven Investment Management LLC boosted its holdings in Quanex Building Products by 1.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 28,452 shares of the construction company’s stock valued at $787,000 after purchasing an additional 474 shares during the period. Public Employees Retirement System of Ohio grew its position in Quanex Building Products by 69.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,477 shares of the construction company’s stock worth $41,000 after purchasing an additional 605 shares during the last quarter. Quarry LP increased its holdings in shares of Quanex Building Products by 150.8% during the 3rd quarter. Quarry LP now owns 1,126 shares of the construction company’s stock worth $31,000 after purchasing an additional 677 shares during the period. Finally, TD Asset Management Inc raised its position in shares of Quanex Building Products by 3.4% during the second quarter. TD Asset Management Inc now owns 24,200 shares of the construction company’s stock valued at $669,000 after buying an additional 800 shares during the last quarter. Institutional investors own 97.48% of the company’s stock.

Quanex Building Products Company Profile

Quanex Building Products Corporation, together with its subsidiaries, provides components for the fenestration industry in the United States, rest of Europe, Canada, Asia, the United Kingdom, and internationally. The company operates through three segments: North American Fenestration, European Fenestration, and North American Cabinet Components.