We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Quanex Building Products (NX) Dips More Than Broader Markets: What You Should Know
Read MoreHide Full Article
In the latest trading session, Quanex Building Products (NX - Free Report) closed at $25.55, marking a -1.35% move from the previous day. This change lagged the S&P 500's daily loss of 0.72%. At the same time, the Dow lost 0.5%, and the tech-heavy Nasdaq lost 0.47%.
Coming into today, shares of the housing materials maker had gained 9.84% in the past month. In that same time, the Construction sector gained 13.93%, while the S&P 500 gained 11.6%.
Investors will be hoping for strength from Quanex Building Products as it approaches its next earnings release. On that day, Quanex Building Products is projected to report earnings of $0.62 per share, which would represent year-over-year growth of 47.62%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $301.1 million, up 7.58% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.35 per share and revenue of $1.19 billion, which would represent changes of +34.29% and +11.02%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Quanex Building Products. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Quanex Building Products currently has a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Quanex Building Products is holding a Forward P/E ratio of 11.02. This valuation marks a discount compared to its industry's average Forward P/E of 13.44.
The Building Products - Miscellaneous industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 93, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow NX in the coming trading sessions, be sure to utilize Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Quanex Building Products (NX) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Quanex Building Products (NX - Free Report) closed at $25.55, marking a -1.35% move from the previous day. This change lagged the S&P 500's daily loss of 0.72%. At the same time, the Dow lost 0.5%, and the tech-heavy Nasdaq lost 0.47%.
Coming into today, shares of the housing materials maker had gained 9.84% in the past month. In that same time, the Construction sector gained 13.93%, while the S&P 500 gained 11.6%.
Investors will be hoping for strength from Quanex Building Products as it approaches its next earnings release. On that day, Quanex Building Products is projected to report earnings of $0.62 per share, which would represent year-over-year growth of 47.62%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $301.1 million, up 7.58% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.35 per share and revenue of $1.19 billion, which would represent changes of +34.29% and +11.02%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Quanex Building Products. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Quanex Building Products currently has a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Quanex Building Products is holding a Forward P/E ratio of 11.02. This valuation marks a discount compared to its industry's average Forward P/E of 13.44.
The Building Products - Miscellaneous industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 93, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow NX in the coming trading sessions, be sure to utilize Zacks.com.