Wall Street brokerages forecast that Foundation Building Materials Inc (NYSE:FBM) will post $534.85 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Foundation Building Materials’ earnings, with the highest sales estimate coming in at $542.00 million and the lowest estimate coming in at $512.70 million. Foundation Building Materials reported sales of $479.46 million in the same quarter last year, which indicates a positive year-over-year growth rate of 11.6%. The business is expected to announce its next quarterly earnings results on Tuesday, May 8th.
On average, analysts expect that Foundation Building Materials will report full-year sales of $534.85 million for the current financial year, with estimates ranging from $2.23 billion to $2.27 billion. For the next financial year, analysts anticipate that the business will report sales of $2.39 billion per share, with estimates ranging from $2.33 billion to $2.42 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Foundation Building Materials.
Foundation Building Materials (NYSE:FBM) last released its earnings results on Tuesday, February 27th. The company reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.17. The firm had revenue of $516.77 million for the quarter, compared to analysts’ expectations of $513.28 million. Foundation Building Materials had a net margin of 4.00% and a return on equity of 2.44%. The company’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.09) earnings per share.
A number of research analysts have weighed in on FBM shares. Barclays set a $19.00 target price on shares of Foundation Building Materials and gave the company a “buy” rating in a research note on Sunday, January 7th. Zacks Investment Research cut shares of Foundation Building Materials from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. Citigroup boosted their target price on shares of Foundation Building Materials from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. UBS upgraded shares of Foundation Building Materials from an “outperform” rating to a “strong-buy” rating in a research note on Thursday, February 8th. Finally, Raymond James Financial upgraded shares of Foundation Building Materials from an “outperform” rating to a “strong-buy” rating and set a $20.00 target price on the stock in a research note on Thursday, February 8th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $17.71.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. TIAA CREF Investment Management LLC raised its position in shares of Foundation Building Materials by 44.2% in the fourth quarter. TIAA CREF Investment Management LLC now owns 72,938 shares of the company’s stock valued at $1,079,000 after purchasing an additional 22,352 shares during the period. Teachers Advisors LLC raised its position in shares of Foundation Building Materials by 29.9% in the fourth quarter. Teachers Advisors LLC now owns 49,354 shares of the company’s stock valued at $730,000 after purchasing an additional 11,354 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Foundation Building Materials by 1.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,997,160 shares of the company’s stock valued at $29,538,000 after purchasing an additional 32,043 shares during the period. Stone Ridge Asset Management LLC bought a new stake in shares of Foundation Building Materials in the fourth quarter valued at approximately $334,000. Finally, Deutsche Bank AG raised its position in shares of Foundation Building Materials by 254.5% in the fourth quarter. Deutsche Bank AG now owns 57,430 shares of the company’s stock valued at $848,000 after purchasing an additional 41,228 shares during the period. 94.19% of the stock is currently owned by institutional investors.
FBM traded down $0.03 during midday trading on Tuesday, reaching $14.49. The company had a trading volume of 25,275 shares, compared to its average volume of 123,022. The company has a quick ratio of 1.50, a current ratio of 2.26 and a debt-to-equity ratio of 1.54. The stock has a market cap of $618.98, a price-to-earnings ratio of 80.22 and a beta of 0.30. Foundation Building Materials has a 12-month low of $11.03 and a 12-month high of $17.00.
Foundation Building Materials Company Profile
Foundation Building Materials, Inc is a specialty distributor of wallboard and suspended ceiling systems in the United States and Canada. The Company’s segments include Specialty Building Products and Mechanical Insulation. The Company fabricates and distributes its products for specialty contractors seeking to improve or maintain energy efficiency in a range of commercial and industrial buildings.
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