Cornerstone Building Brands (NYSE:CNR) Issues Q2 2021 Earnings Guidance

Cornerstone Building Brands (NYSE:CNR) updated its second quarter 2021 earnings guidance on Tuesday. The company provided earnings per share guidance of – for the period. The company issued revenue guidance of $1.38 billion-$1.43 billion, compared to the consensus revenue estimate of $1.29 billion.

A number of research firms have commented on CNR. Zacks Investment Research raised shares of Cornerstone Building Brands from a hold rating to a strong-buy rating and set a $19.00 price objective for the company in a report on Friday, May 21st. UBS Group raised shares of Cornerstone Building Brands to a buy rating in a research report on Friday. DA Davidson upgraded shares of Cornerstone Building Brands from a neutral rating to a buy rating and increased their price objective for the stock from $14.00 to $18.00 in a research note on Thursday, May 13th. Finally, Barclays upped their target price on Cornerstone Building Brands from $13.00 to $15.00 and gave the company an equal weight rating in a report on Thursday, May 13th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $16.00.

CNR stock opened at $16.96 on Tuesday. The stock has a market cap of $2.13 billion, a PE ratio of 22.92 and a beta of 2.13. The firm’s 50-day simple moving average is $15.06 and its 200 day simple moving average is $12.28. Cornerstone Building Brands has a fifty-two week low of $4.68 and a fifty-two week high of $17.71. The company has a quick ratio of 1.92, a current ratio of 2.59 and a debt-to-equity ratio of 7.78.

Cornerstone Building Brands (NYSE:CNR) last posted its earnings results on Monday, May 10th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.09. The firm had revenue of $1.27 billion during the quarter. Cornerstone Building Brands had a net margin of 1.20% and a return on equity of 22.03%. Equities analysts forecast that Cornerstone Building Brands will post 1.14 EPS for the current fiscal year.

In other news, Director Kathleen J. Affeldt sold 19,500 shares of the company’s stock in a transaction that occurred on Monday, April 5th. The shares were sold at an average price of $14.74, for a total value of $287,430.00. Following the completion of the sale, the director now directly owns 60,515 shares of the company’s stock, valued at approximately $891,991.10. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Opportunity Fund Managemen Ggc sold 150,000 shares of the stock in a transaction that occurred on Wednesday, March 3rd. The shares were sold at an average price of $11.62, for a total transaction of $1,743,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 574,475 shares of company stock worth $7,098,449 in the last ninety days. 1.41% of the stock is owned by company insiders.

Cornerstone Building Brands Company Profile

Cornerstone Building Brands, Inc, together with its subsidiaries, designs, engineers, manufactures, markets, and installs external building products for the commercial, residential, and repair and remodel markets in the United States, Canada, Mexico, and internationally. The company operates through three segments: Windows, Siding, and Commercial.

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