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Quanex Building Products (NX) Stock Sinks As Market Gains: What You Should Know
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Quanex Building Products (NX - Free Report) closed at $24.17 in the latest trading session, marking a -1.51% move from the prior day. This move lagged the S&P 500's daily gain of 1.56%. At the same time, the Dow added 1.29%, and the tech-heavy Nasdaq gained 0.01%.
Heading into today, shares of the housing materials maker had gained 6.6% over the past month, lagging the Construction sector's gain of 9.28% and the S&P 500's gain of 7.11% in that time.
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.
NX's full-year Zacks Consensus Estimates are calling for earnings of $2.35 per share and revenue of $1.19 billion. These results would represent year-over-year changes of +34.29% and +11.02%, respectively.
Investors might also notice recent changes to analyst estimates for Quanex Building Products. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. 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 10.44. This represents a discount compared to its industry's average Forward P/E of 13.89.
The Building Products - Miscellaneous industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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Quanex Building Products (NX) Stock Sinks As Market Gains: What You Should Know
Quanex Building Products (NX - Free Report) closed at $24.17 in the latest trading session, marking a -1.51% move from the prior day. This move lagged the S&P 500's daily gain of 1.56%. At the same time, the Dow added 1.29%, and the tech-heavy Nasdaq gained 0.01%.
Heading into today, shares of the housing materials maker had gained 6.6% over the past month, lagging the Construction sector's gain of 9.28% and the S&P 500's gain of 7.11% in that time.
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.
NX's full-year Zacks Consensus Estimates are calling for earnings of $2.35 per share and revenue of $1.19 billion. These results would represent year-over-year changes of +34.29% and +11.02%, respectively.
Investors might also notice recent changes to analyst estimates for Quanex Building Products. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. 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 10.44. This represents a discount compared to its industry's average Forward P/E of 13.89.
The Building Products - Miscellaneous industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.