BlueLinx (NYSE:BXC) Releases Earnings Results, Beats Expectations By $0.08 EPS

Key Points

• BlueLinx reported quarterly EPS of $0.68, beating analyst expectations of $0.60 by $0.08. Revenue was $812.61 million, slightly below the $814.17 million consensus estimate.
• Shares fell $6.11 to $72.64 during Tuesday trading, despite the earnings beat.
• Analysts’ consensus rating is Hold, with an average price target of $83.50; ratings span one Buy, three Holds, and one Sell.

BlueLinx (NYSE:BXC - Get Free Report) announced its earnings results on Tuesday. The construction company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.60 by $0.08, FiscalAI reports. BlueLinx had a negative net margin of 0.06% and a positive return on equity of 0.13%. The business had revenue of $812.61 million during the quarter, compared to the consensus estimate of $814.17 million.

BlueLinx Price Performance

Shares of NYSE BXC traded down $6.11 during midday trading on Tuesday, reaching $72.64. The company's stock had a trading volume of 331,728 shares, compared to its average volume of 138,152. The company has a debt-to-equity ratio of 0.95, a quick ratio of 2.59 and a current ratio of 4.01. The company has a market cap of $570.91 million, a P/E ratio of -290.53 and a beta of 1.43. The business's 50 day moving average price is $76.34 and its two-hundred day moving average price is $65.04. BlueLinx has a fifty-two week low of $44.78 and a fifty-two week high of $93.80.

Analysts Set New Price Targets

BXC has been the subject of several research reports. Citigroup started coverage on shares of BlueLinx in a research report on Thursday, September 24th. They set a "market perform" rating for the company. Wall Street Zen raised BlueLinx from a "hold" rating to a "buy" rating in a research report on Sunday. Weiss Ratings reiterated a "sell (d)" rating on shares of BlueLinx in a research note on Monday, August 17th. Benchmark increased their target price on BlueLinx from $75.00 to $83.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Finally, Citizens Jmp began coverage on BlueLinx in a report on Thursday, September 24th. They set a "market perform" rating for the company. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $83.50.

• Blackstone NYSE: BX Stock a Buy After an Impressive Q3

About BlueLinx

BlueLinx Holdings Inc is a specialty distributor of building products in the United States. The company supplies materials used in residential and commercial construction, repair and remodeling, and industrial applications.

Its product portfolio includes structural products such as lumber, plywood, oriented strand board and engineered wood, as well as specialty products including siding, insulation, roofing materials, gypsum wallboard, millwork and related building components. BlueLinx also provides services such as product sourcing, inventory management, job-site delivery and other supply-chain support.

BlueLinx serves professional contractors, specialty dealers, home improvement retailers, industrial manufacturers and producers of manufactured housing through a nationwide distribution network.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.