Wall Street brokerages predict that Foundation Building Materials Inc (NYSE:FBM) will announce sales of $578.92 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Foundation Building Materials’ earnings, with estimates ranging from $565.00 million to $592.00 million. Foundation Building Materials posted sales of $542.27 million in the same quarter last year, which indicates a positive year over year growth rate of 6.8%. The business is scheduled to report its next quarterly earnings results on Thursday, November 7th.
On average, analysts expect that Foundation Building Materials will report full-year sales of $2.19 billion for the current financial year, with estimates ranging from $2.17 billion to $2.21 billion. For the next fiscal year, analysts expect that the company will report sales of $2.30 billion, with estimates ranging from $2.25 billion to $2.33 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Foundation Building Materials.
Foundation Building Materials (NYSE:FBM) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.12. Foundation Building Materials had a net margin of 0.08% and a return on equity of 9.30%. The company had revenue of $559.91 million during the quarter, compared to analysts’ expectations of $574.68 million. During the same quarter in the prior year, the company posted $0.08 EPS. The business’s revenue was up 7.2% on a year-over-year basis.
A number of equities analysts have recently issued reports on FBM shares. Zacks Investment Research cut shares of Foundation Building Materials from a “buy” rating to a “hold” rating in a research note on Monday, August 12th. TheStreet upgraded shares of Foundation Building Materials from a “d+” rating to a “c” rating in a research report on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $14.33.
Institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada boosted its stake in Foundation Building Materials by 2.8% during the 2nd quarter. Royal Bank of Canada now owns 35,997 shares of the company’s stock worth $640,000 after acquiring an additional 997 shares during the last quarter. ClariVest Asset Management LLC bought a new position in Foundation Building Materials during the 2nd quarter worth approximately $891,000. Nuveen Asset Management LLC bought a new position in Foundation Building Materials during the 2nd quarter worth approximately $6,105,000. UBS Asset Management Americas Inc. bought a new position in Foundation Building Materials during the 2nd quarter worth approximately $255,000. Finally, Citadel Advisors LLC boosted its stake in Foundation Building Materials by 59.2% during the 2nd quarter. Citadel Advisors LLC now owns 98,513 shares of the company’s stock worth $1,751,000 after acquiring an additional 36,647 shares during the last quarter. Institutional investors and hedge funds own 90.66% of the company’s stock.
Shares of FBM stock traded down $0.63 during mid-day trading on Monday, reaching $17.33. The company’s stock had a trading volume of 304,200 shares, compared to its average volume of 358,619. Foundation Building Materials has a 1-year low of $7.62 and a 1-year high of $19.74. The company has a market cap of $769.49 million, a P/E ratio of 49.51 and a beta of 1.48. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.38 and a current ratio of 1.98. The firm’s 50-day moving average is $17.43 and its two-hundred day moving average is $13.74.
Foundation Building Materials Company Profile
Foundation Building Materials, Inc distributes building products in the United States and Canada. It offers wallboard, suspended ceiling system, and metal framing products. The company also provides complementary and other products, tools, and accessories, such as wallboard accessories, stucco and finishing systems, safety accessories, fasteners, insulations, doors, and roofing products.
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