What is Sidoti Csr’s Forecast for NX FY2024 Earnings?

Quanex Building Products Co. (NYSE:NX) – Equities research analysts at Sidoti Csr decreased their FY2024 EPS estimates for shares of Quanex Building Products in a research note issued on Wednesday, November 27th. Sidoti Csr analyst J. Romero now forecasts that the construction company will post earnings per share of $2.10 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.

Quanex Building Products (NYSE:NX) last announced its quarterly earnings results on Thursday, September 5th. The construction company reported $0.73 EPS for the quarter, beating the consensus estimate 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 business earned $0.97 earnings per share.

A number of other brokerages have also commented on NX. Benchmark reissued a “buy” rating and set a $38.00 price target on shares of Quanex Building Products in a report on Wednesday, September 11th. StockNews.com cut shares of Quanex Building Products from a “buy” rating to a “hold” rating in a research note on Thursday.

Quanex Building Products Stock Down 6.7 %

NX 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. Quanex Building Products has a 12 month low of $24.85 and a 12 month high of $39.31. The stock’s 50 day moving average price is $29.22 and its 200 day moving average price is $29.36. The stock has a market cap of $1.36 billion, a P/E ratio of 12.80, a P/E/G ratio of 0.75 and a beta of 1.25.

Institutional Investors Weigh In On Quanex Building Products

A number of institutional investors have recently added to or reduced their stakes in NX. Victory Capital Management Inc. raised its holdings in shares of Quanex Building Products by 38.7% in the 3rd quarter. Victory Capital Management Inc. now owns 115,210 shares of the construction company’s stock worth $3,197,000 after purchasing an additional 32,158 shares in the last quarter. Susquehanna International Group Ltd. acquired a new position in shares of Quanex Building Products in the 2nd quarter valued at $611,000. Farther Finance Advisors LLC raised its holdings in Quanex Building Products by 10,450.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,110 shares of the construction company’s stock worth $59,000 after buying an additional 2,090 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Quanex Building Products by 28.8% in the third quarter. Principal Financial Group Inc. now owns 222,522 shares of the construction company’s stock worth $6,175,000 after buying an additional 49,716 shares during the period. Finally, Loomis Sayles & Co. L P raised its holdings in shares of Quanex Building Products by 5.6% during the third quarter. Loomis Sayles & Co. L P now owns 365,517 shares of the construction company’s stock valued at $10,143,000 after acquiring an additional 19,361 shares during the period. 97.48% of the stock is currently owned by institutional investors and hedge funds.

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.