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

BlueLinx (NYSE:BXC) issued its quarterly earnings results on Tuesday. The construction company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.08, FiscalAI reports. BlueLinx had a positive return on equity of 0.13% and a negative net margin of 0.06%. The company had revenue of $812.61 million for the quarter, compared to analysts’ expectations of $814.17 million.

BlueLinx Price Performance

NYSE BXC traded down $6.11 on Tuesday, hitting $72.64. 331,728 shares of the company’s stock were exchanged, compared to its average volume of 138,152. The stock has a 50-day moving average of $76.34 and a 200-day moving average of $65.04. The company has a current ratio of 4.01, a quick ratio of 2.59 and a debt-to-equity ratio of 0.95. BlueLinx has a 52 week low of $44.78 and a 52 week high of $93.80. The stock has a market cap of $570.91 million, a price-to-earnings ratio of -290.53 and a beta of 1.43.

Wall Street Analysts Forecast Growth

BXC has been the subject of a number of analyst reports. Citizens Jmp assumed coverage on BlueLinx in a research note on Thursday, September 24th. They issued a “market perform” rating for the company. DA Davidson increased their price objective on shares of BlueLinx from $65.00 to $84.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Citigroup assumed coverage on shares of BlueLinx in a research note on Thursday, September 24th. They set a “market perform” rating on the stock. Benchmark raised their target price on shares of BlueLinx from $75.00 to $83.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Wall Street Zen upgraded shares of BlueLinx from a “hold” rating to a “buy” rating in a research report on Sunday. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $83.50.

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.