Zacks: Brokerages Expect Foundation Building Materials Inc (FBM) Will Announce Quarterly Sales of $512.04 Million

Wall Street brokerages expect Foundation Building Materials Inc (NYSE:FBM) to announce $512.04 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Foundation Building Materials’ earnings, with estimates ranging from $499.00 million to $520.00 million. Foundation Building Materials reported sales of $462.19 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 10.8%. The business is scheduled to report its next earnings results on Monday, March 26th.

On average, analysts expect that Foundation Building Materials will report full-year sales of $512.04 million for the current financial year, with estimates ranging from $2.04 billion to $2.06 billion. For the next fiscal year, analysts expect that the firm will report sales of $2.24 billion per share, with estimates ranging from $2.17 billion to $2.29 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Foundation Building Materials.

Foundation Building Materials (NYSE:FBM) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $0.08 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.08. Foundation Building Materials had a negative return on equity of 2.98% and a negative net margin of 0.11%. The firm had revenue of $535.40 million for the quarter, compared to the consensus estimate of $535.81 million. The business’s revenue was up 28.8% on a year-over-year basis.

A number of equities analysts recently commented on the company. Royal Bank of Canada lifted their price objective on Foundation Building Materials from $15.00 to $17.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 8th. Zacks Investment Research downgraded Foundation Building Materials from a “hold” rating to a “sell” rating in a research report on Monday, September 25th. Finally, Robert W. Baird reiterated a “hold” rating and set a $15.00 price objective on shares of Foundation Building Materials in a research report on Monday, October 9th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $18.43.

Hedge funds have recently bought and sold shares of the business. Virtu KCG Holdings LLC acquired a new stake in Foundation Building Materials during the second quarter worth $129,000. The Manufacturers Life Insurance Company acquired a new stake in Foundation Building Materials during the second quarter worth $143,000. Strs Ohio acquired a new stake in Foundation Building Materials during the third quarter worth $165,000. Rhumbline Advisers acquired a new stake in shares of Foundation Building Materials in the second quarter valued at $175,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of Foundation Building Materials in the second quarter valued at $177,000. 94.94% of the stock is owned by institutional investors.

Shares of Foundation Building Materials (FBM) traded up $0.08 during trading on Friday, reaching $14.98. The company had a trading volume of 165,400 shares, compared to its average volume of 217,072. Foundation Building Materials has a 52-week low of $11.03 and a 52-week high of $17.91. The stock has a market capitalization of $638.70 and a P/E ratio of -124.83. The company has a debt-to-equity ratio of 2.02, a quick ratio of 1.82 and a current ratio of 2.63.

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About Foundation Building Materials

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

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