SunTrust Banks Research Analysts Reduce Earnings Estimates for Foundation Building Materials Inc (FBM)

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Foundation Building Materials Inc (NYSE:FBM) – Research analysts at SunTrust Banks reduced their Q4 2018 EPS estimates for Foundation Building Materials in a report issued on Monday, November 5th. SunTrust Banks analyst K. Hughes now anticipates that the company will earn $0.09 per share for the quarter, down from their prior estimate of $0.16. SunTrust Banks also issued estimates for Foundation Building Materials’ Q1 2019 earnings at $0.06 EPS, Q2 2019 earnings at $0.25 EPS, Q4 2019 earnings at $0.21 EPS and FY2019 earnings at $0.85 EPS.

Foundation Building Materials (NYSE:FBM) last posted its quarterly earnings results on Thursday, November 1st. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.06. The company had revenue of $542.30 million for the quarter, compared to analyst estimates of $555.47 million. Foundation Building Materials had a net margin of 2.07% and a return on equity of 6.25%. The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the business posted $0.08 EPS.

Other analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Foundation Building Materials from a “buy” rating to a “hold” rating in a research report on Monday, August 13th. Barclays decreased their target price on shares of Foundation Building Materials from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, August 13th. ValuEngine lowered shares of Foundation Building Materials from a “hold” rating to a “sell” rating in a research report on Thursday, October 18th. Finally, TheStreet lowered shares of Foundation Building Materials from a “c-” rating to a “d+” rating in a research report on Thursday, October 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $17.43.

NYSE FBM opened at $9.85 on Wednesday. The company has a current ratio of 2.86, a quick ratio of 1.60 and a debt-to-equity ratio of 2.14. Foundation Building Materials has a 52-week low of $9.26 and a 52-week high of $16.40. The firm has a market capitalization of $422.52 million, a price-to-earnings ratio of 32.83 and a beta of 1.35.

Several institutional investors have recently modified their holdings of FBM. American Century Companies Inc. boosted its position in shares of Foundation Building Materials by 47.5% during the 3rd quarter. American Century Companies Inc. now owns 1,854,254 shares of the company’s stock valued at $23,123,000 after acquiring an additional 597,531 shares in the last quarter. Paradigm Capital Management Inc. NY acquired a new stake in shares of Foundation Building Materials during the 2nd quarter valued at about $7,653,000. Dalton Greiner Hartman Maher & Co. boosted its position in shares of Foundation Building Materials by 129.3% during the 3rd quarter. Dalton Greiner Hartman Maher & Co. now owns 508,799 shares of the company’s stock valued at $6,345,000 after acquiring an additional 286,923 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Foundation Building Materials during the 2nd quarter valued at about $4,020,000. Finally, Millennium Management LLC acquired a new stake in shares of Foundation Building Materials during the 1st quarter valued at about $3,197,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

About Foundation Building Materials

Foundation Building Materials, Inc distributes building products in the United States and Canada. It operates through two segments, Specialty Building Products and Mechanical Insulation. The Specialty Building Products segment distributes wallboard, metal framing, suspended ceiling system, and other products.

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Earnings History and Estimates for Foundation Building Materials (NYSE:FBM)

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