Q2 2023 EPS Estimates for BlueLinx Holdings Inc. Decreased by Seaport Res Ptn (NYSE:BXC)

BlueLinx Holdings Inc. (NYSE:BXC – Get Rating) – Equities researchers at Seaport Res Ptn lowered their Q2 2023 earnings estimates for shares of BlueLinx in a report issued on Monday, May 22nd. Seaport Res Ptn analyst W. Liptak now anticipates that the construction company will post earnings per share of $3.30 for the quarter, down from their previous estimate of $3.95. The consensus estimate for BlueLinx’s current full-year earnings is $11.05 per share. Seaport Res Ptn also issued estimates for BlueLinx’s FY2023 earnings at $11.05 EPS, Q1 2024 earnings at $3.16 EPS, Q3 2024 earnings at $3.95 EPS, Q4 2024 earnings at $3.08 EPS and FY2024 earnings at $14.18 EPS.

Other equities analysts also recently issued reports about the stock. Benchmark lifted their price objective on shares of BlueLinx from $95.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, February 23rd. StockNews.com began coverage on shares of BlueLinx in a report on Thursday, May 18th. They set a “hold” rating on the stock.

BlueLinx Stock Performance

NYSE BXC opened at $82.60 on Wednesday. The company has a fifty day simple moving average of $72.29 and a 200 day simple moving average of $75.33. BlueLinx has a 12-month low of $57.49 and a 12-month high of $93.22. The company has a current ratio of 4.88, a quick ratio of 3.08 and a debt-to-equity ratio of 1.03. The company has a market cap of $750.75 million, a P/E ratio of 4.28 and a beta of 1.85.

BlueLinx (NYSE:BXC – Get Rating) last posted its quarterly earnings results on Tuesday, February 21st. The construction company reported $3.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.85. BlueLinx had a net margin of 4.58% and a return on equity of 32.60%. The business had revenue of $847.77 million during the quarter, compared to the consensus estimate of $930.00 million.

Hedge Funds Weigh In On BlueLinx

A number of hedge funds have recently bought and sold shares of BXC. Robeco Institutional Asset Management B.V. bought a new stake in shares of BlueLinx during the 1st quarter worth $34,000. Covestor Ltd bought a new stake in shares of BlueLinx during the 1st quarter worth $50,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of BlueLinx during the 3rd quarter worth $73,000. Steward Partners Investment Advisory LLC raised its stake in shares of BlueLinx by 7.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,090 shares of the construction company’s stock worth $149,000 after purchasing an additional 138 shares during the period. Finally, Meeder Asset Management Inc. raised its stake in shares of BlueLinx by 69.1% during the 4th quarter. Meeder Asset Management Inc. now owns 2,209 shares of the construction company’s stock worth $157,000 after purchasing an additional 903 shares during the period. 84.90% of the stock is owned by hedge funds and other institutional investors.

About BlueLinx

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BlueLinx Holdings, Inc engages in the distribution of building and industrial products. Its products include structural and specialty. The Structural products consist of plywood, oriented strand board, rebar and remesh, lumber, spruce and other wood used for structural support, walls, and flooring in construction projects.