Sidoti Csr Has Pessimistic View of NX FY2024 Earnings

Quanex Building Products Co. (NYSE:NX) – Stock analysts at Sidoti Csr dropped their FY2024 EPS estimates for shares of Quanex Building Products in a note issued to investors on Wednesday, November 27th. Sidoti Csr analyst J. Romero now expects that the construction company will post earnings of $2.10 per share for the year, down from their previous estimate 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.

Other equities analysts have also issued reports about the company. StockNews.com lowered Quanex Building Products from a “buy” rating to a “hold” rating in a research report on Thursday. Benchmark reiterated a “buy” rating and set a $38.00 price objective on shares of Quanex Building Products in a research note on Wednesday, September 11th.

Quanex Building Products Stock Performance

Quanex Building Products stock opened at $28.81 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.36 and a quick ratio of 1.58. The firm’s fifty day moving average price is $29.22 and its 200 day moving average price is $29.36. The company has a market capitalization of $1.36 billion, a price-to-earnings 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.

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

Institutional Trading of Quanex Building Products

Institutional investors and hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. increased its stake in Quanex Building Products by 6.4% during the third quarter. Franklin Resources Inc. now owns 19,203 shares of the construction company’s stock valued at $562,000 after purchasing an additional 1,150 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Quanex Building Products by 37.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,040,987 shares of the construction company’s stock valued at $28,894,000 after buying an additional 286,128 shares during the period. Vestcor Inc grew its position in shares of Quanex Building Products by 720.3% during the 3rd quarter. Vestcor Inc now owns 19,360 shares of the construction company’s stock valued at $537,000 after buying an additional 17,000 shares during the last quarter. Barclays PLC raised its stake in Quanex Building Products by 391.4% during the third quarter. Barclays PLC now owns 83,794 shares of the construction company’s stock worth $2,325,000 after acquiring an additional 66,742 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its holdings in Quanex Building Products by 69.4% in the third quarter. Public Employees Retirement System of Ohio now owns 1,477 shares of the construction company’s stock worth $41,000 after acquiring an additional 605 shares during the last quarter. Institutional investors and hedge funds own 97.48% of the company’s stock.

About Quanex Building Products

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.