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

BlueLinx (NYSE:BXC) issued its quarterly earnings data on Tuesday. The construction company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.60 by $0.08, FiscalAI reports. BlueLinx had a negative net margin of 0.14% and a positive return on equity of 0.42%. The company had revenue of $812.61 million during the quarter, compared to analysts’ expectations of $814.17 million.

BlueLinx Trading Down 9.8%

Shares of BXC traded down $7.27 during midday trading on Thursday, hitting $67.22. The stock had a trading volume of 78,287 shares, compared to its average volume of 138,457. The company has a debt-to-equity ratio of 0.95, a current ratio of 4.01 and a quick ratio of 2.59. The firm has a market cap of $528.33 million, a PE ratio of -128.93 and a beta of 1.47. BlueLinx has a 1 year low of $44.78 and a 1 year high of $93.80. The stock’s 50 day moving average is $75.96 and its 200 day moving average is $65.00.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Weiss Ratings restated a “sell (d)” rating on shares of BlueLinx in a research report on Monday, August 17th. Zacks Research started coverage on BlueLinx in a report on Monday. They issued a “hold” rating for the company. Citizens Jmp initiated coverage on BlueLinx in a research note on Thursday, September 24th. They issued a “market perform” rating on the stock. DA Davidson lifted their price objective on BlueLinx from $65.00 to $84.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Finally, Wall Street Zen raised BlueLinx from a “hold” rating to a “buy” rating in a research note on Sunday. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $83.50.

BlueLinx Company Profile

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.