BlueLinx (NYSE:BXC) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

BlueLinx (NYSE:BXC - Get Free Report) released its quarterly earnings results on Tuesday. The construction company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01), Zacks reports. The business had revenue of $710.64 million for the quarter, compared to analysts' expectations of $700.66 million. BlueLinx had a return on equity of 7.50% and a net margin of 1.80%.

BlueLinx Trading Down 8.7 %

BlueLinx stock traded down $7.84 during midday trading on Friday, reaching $82.40. 158,765 shares of the stock traded hands, compared to its average volume of 62,315. The company has a 50-day simple moving average of $104.09 and a two-hundred day simple moving average of $107.39. BlueLinx has a 12-month low of $82.23 and a 12-month high of $134.79. The firm has a market cap of $683.07 million, a PE ratio of 13.42 and a beta of 2.04. The company has a current ratio of 4.85, a quick ratio of 3.26 and a debt-to-equity ratio of 0.89.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on BXC shares. DA Davidson lowered their price target on BlueLinx from $137.00 to $119.00 and set a "buy" rating for the company in a report on Thursday. StockNews.com cut BlueLinx from a "buy" rating to a "hold" rating in a report on Thursday. Benchmark lowered their price target on BlueLinx from $135.00 to $120.00 and set a "buy" rating for the company in a report on Friday. Finally, Loop Capital lowered their price target on BlueLinx from $135.00 to $120.00 and set a "buy" rating for the company in a report on Friday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $123.50.

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BlueLinx Company Profile

BlueLinx Holdings Inc, together with its subsidiaries, engages in the distribution of residential and commercial building products in the United States. It distributes specialty products, including engineered wood, siding, millwork, outdoor living, specialty lumber and panels, and industrial products; and structural products, such as lumber, plywood, oriented strand boards, rebars and remesh, as well as other wood products that are used for structural support in construction projects.