Quanex Building Products Co. (NYSE:NX) to Post FY2022 Earnings of $2.35 Per Share, KeyCorp Forecasts

Quanex Building Products Co. (NYSE:NXGet Rating) – Equities researchers at KeyCorp lifted their FY2022 EPS estimates for Quanex Building Products in a research report issued on Tuesday, June 21st. KeyCorp analyst K. Zener now expects that the construction company will post earnings of $2.35 per share for the year, up from their prior forecast of $1.93. The consensus estimate for Quanex Building Products’ current full-year earnings is $1.93 per share. KeyCorp also issued estimates for Quanex Building Products’ Q4 2022 earnings at $0.59 EPS and FY2023 earnings at $2.47 EPS.

Separately, StockNews.com raised shares of Quanex Building Products from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 9th.

Shares of NYSE:NX opened at $21.96 on Thursday. Quanex Building Products has a 52 week low of $18.87 and a 52 week high of $25.93. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.15 and a current ratio of 2.04. The company has a market capitalization of $731.66 million, a PE ratio of 10.12 and a beta of 1.48. The company has a 50 day moving average price of $20.70 and a two-hundred day moving average price of $22.02.

Quanex Building Products (NYSE:NXGet Rating) last issued its earnings results on Thursday, June 2nd. The construction company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.43 by $0.37. Quanex Building Products had a net margin of 6.23% and a return on equity of 17.28%. During the same period in the prior year, the firm earned $0.43 earnings per share.

A number of institutional investors and hedge funds have recently made changes to their positions in NX. Voya Investment Management LLC boosted its holdings in Quanex Building Products by 5.7% during the third quarter. Voya Investment Management LLC now owns 39,835 shares of the construction company’s stock worth $853,000 after purchasing an additional 2,145 shares during the last quarter. Invesco Ltd. lifted its stake in Quanex Building Products by 107.2% in the third quarter. Invesco Ltd. now owns 589,303 shares of the construction company’s stock valued at $12,617,000 after acquiring an additional 304,827 shares during the last quarter. Millennium Management LLC lifted its stake in Quanex Building Products by 123.2% in the third quarter. Millennium Management LLC now owns 200,440 shares of the construction company’s stock valued at $4,291,000 after acquiring an additional 110,623 shares during the last quarter. Two Sigma Investments LP acquired a new stake in Quanex Building Products in the third quarter valued at $984,000. Finally, Two Sigma Advisers LP lifted its stake in Quanex Building Products by 194.1% in the third quarter. Two Sigma Advisers LP now owns 65,300 shares of the construction company’s stock valued at $1,398,000 after acquiring an additional 43,100 shares during the last quarter. Institutional investors and hedge funds own 97.43% of the company’s stock.

In other news, Director Curtis M. Stevens sold 5,987 shares of the company’s stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of $24.52, for a total value of $146,801.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.43% of the stock is owned by corporate insiders.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Tuesday, June 14th. Quanex Building Products’s dividend payout ratio (DPR) is presently 14.75%.

About Quanex Building Products (Get Rating)

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

Read More

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