News Spotlight: Quanex Building Products Corporation (NYSE:NX)
Quanex Building Products Corporation (NYSE:NX) spotted trading -13.16% off 52-week high price. On the other end, the stock has been noted 60.28% away from the low price over the last 52-weeks. The stock changed 2.27% to recent value of $17.15. The stock transacted 322623 shares during most recent day however it has an average volume of 182.06K shares. The company has 32.72M of outstanding shares and 32.53M shares were floated in the market.
On Sept. 05, 2019, Quanex Building Products Corporation (NYSE:NX) declared its results for the three months ended July 31, 2019.
Bill Griffiths, Chairman, President and Chief Executive Officer, commented, We continue to benefit from the successful implementation of pricing initiatives and we are performing well operationally, both of which contributed to margin expansion of approximately 100 basis points on a consolidated basis during the quarter. More specifically, margins expanded by approximately 180 basis points in our European and North American Fenestration segments. Revenue was impacted by lower-than-expected volumes, primarily in our North American Cabinet Components segment, coupled with inclement weather in the U.S. Despite softer-than-expected volumes, we benefitted from better pricing year-over-year and our European Fenestration segment realized above market sales growth of 9.3%, excluding foreign exchange impact, and sales in our North American Fenestration segment grew at 2.2% during the quarter, which compares favorably to Ducker’s latest window shipment estimate of negative 2.3% growth for the three months ended June 30, 2019. Solid free cash flow generation during the third quarter allowed us to pay down $32.5 million in bank debt and buyback approximately $1.6 million in stock.
Its earnings per share (EPS) expected to touch remained 5.60% for this year while earning per share for the next 5-years is expected to reach at 15.00%. NX has a gross margin of 21.80% and an operating margin of 0.80% while its profit margin remained -1.20% for the last 12 months.
According to the most recent quarter its current ratio was 2.3 that represents company’s ability to meet its current financial obligations. The price moved ahead of 0.07% from the mean of 20 days, -3.94% from mean of 50 days SMA and performed 4.80% from mean of 200 days price. Company’s performance for the week was 2.94%, -4.78% for month and YTD performance remained 26.20%.
Christopher Pacheco has worked as financial analyst until his retirement. He is a well-known research director and portfolio manager for more than 5 years. After many years in the market, he dedicated all his time to write articles highlighting different financial problems.
Christopher Pacheco holds a postgraduate degree in Software Engineering from Canada. ‘The stock market is filled with individuals who know the price of everything, but the value of nothing.’ Christopher is a share market expert, being personally invested for over 6 years. He believes the most valuable nugget of wisdom for new investors is a quote from Phillip Fisher. He has been writing his entire life, and while he has made a career of business and finance reporting, he still enjoys writing short stories and poetry.
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