KeyCorp Comments on Quanex Building Products Co.’s FY2019 Earnings (NYSE:NX)

Quanex Building Products Co. (NYSE:NX) – Analysts at KeyCorp lifted their FY2019 earnings estimates for Quanex Building Products in a research report issued to clients and investors on Wednesday, June 5th, Zacks Investment Research reports. KeyCorp analyst K. Zener now expects that the construction company will earn $0.80 per share for the year, up from their previous estimate of $0.67. KeyCorp also issued estimates for Quanex Building Products’ Q4 2019 earnings at $0.33 EPS and FY2020 earnings at $0.87 EPS.

Quanex Building Products (NYSE:NX) last released its quarterly earnings data on Tuesday, June 4th. The construction company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.12 by $0.07. Quanex Building Products had a positive return on equity of 5.90% and a negative net margin of 1.15%. The company had revenue of $218.00 million during the quarter, compared to the consensus estimate of $219.53 million. During the same period last year, the company earned $0.14 EPS. Quanex Building Products’s revenue for the quarter was up 1.9% on a year-over-year basis.

Several other equities research analysts also recently commented on the company. Zacks Investment Research upgraded Quanex Building Products from a “hold” rating to a “strong-buy” rating and set a $20.00 price objective for the company in a report on Saturday, June 8th. Seaport Global Securities assumed coverage on Quanex Building Products in a research note on Friday, March 15th. They set a “buy” rating and a $19.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Quanex Building Products has a consensus rating of “Buy” and an average target price of $18.00.

NYSE NX traded up $0.36 during trading hours on Friday, hitting $18.89. The company’s stock had a trading volume of 371,942 shares, compared to its average volume of 256,334. Quanex Building Products has a 12 month low of $10.70 and a 12 month high of $19.75. The stock has a 50 day moving average price of $16.82. The company has a market capitalization of $625.67 million, a P/E ratio of 29.06 and a beta of 1.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.30 and a current ratio of 2.32.

Large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its position in shares of Quanex Building Products by 4.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 466,936 shares of the construction company’s stock worth $8,498,000 after purchasing an additional 17,789 shares during the last quarter. Bank of Montreal Can raised its position in shares of Quanex Building Products by 13.0% in the 4th quarter. Bank of Montreal Can now owns 135,991 shares of the construction company’s stock worth $1,848,000 after purchasing an additional 15,692 shares during the last quarter. Quantamental Technologies LLC purchased a new position in shares of Quanex Building Products in the 4th quarter worth about $57,000. Arizona State Retirement System raised its position in shares of Quanex Building Products by 6.1% in the 4th quarter. Arizona State Retirement System now owns 54,154 shares of the construction company’s stock worth $736,000 after purchasing an additional 3,111 shares during the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Quanex Building Products in the 4th quarter worth about $150,000. Institutional investors own 98.01% of the company’s stock.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.69%. Quanex Building Products’s dividend payout ratio (DPR) is presently 49.23%.

Quanex Building Products Company Profile

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, and precision-formed metal and wood products, as well as cabinet doors and other components for original equipment manufacturers (OEMs) in the kitchen and bathroom cabinet industry.

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