Foundation Building Materials Inc (FBM) Expected to Post Earnings of $0.08 Per Share

Wall Street brokerages predict that Foundation Building Materials Inc (NYSE:FBM) will report earnings per share (EPS) of $0.08 for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Foundation Building Materials’ earnings, with the lowest EPS estimate coming in at $0.03 and the highest estimate coming in at $0.12. Foundation Building Materials reported earnings per share of $0.19 during the same quarter last year, which indicates a negative year over year growth rate of 57.9%. The business is expected to issue its next earnings results on Tuesday, February 26th.

According to Zacks, analysts expect that Foundation Building Materials will report full year earnings of $0.43 per share for the current financial year, with EPS estimates ranging from $0.34 to $0.49. For the next financial year, analysts expect that the company will report earnings of $0.90 per share, with EPS estimates ranging from $0.85 to $0.97. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Foundation Building Materials.

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

A number of research firms recently weighed in on FBM. Barclays lowered their price objective on shares of Foundation Building Materials from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, August 13th. Zacks Investment Research lowered shares of Foundation Building Materials from a “buy” rating to a “hold” rating in a research note on Monday, August 13th. ValuEngine lowered shares of Foundation Building Materials from a “hold” rating to a “sell” rating in a research note on Thursday, October 18th. Finally, TheStreet lowered shares of Foundation Building Materials from a “c-” rating to a “d+” rating in a research note on Thursday, October 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Foundation Building Materials has an average rating of “Buy” and an average target price of $17.67.

A number of institutional investors have recently made changes to their positions in FBM. Bank of Montreal Can acquired a new position in shares of Foundation Building Materials during the second quarter valued at about $174,000. Massachusetts Financial Services Co. MA increased its holdings in Foundation Building Materials by 1.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,104,294 shares of the company’s stock worth $16,984,000 after buying an additional 20,280 shares during the period. Victory Capital Management Inc. increased its holdings in Foundation Building Materials by 31.8% in the 2nd quarter. Victory Capital Management Inc. now owns 107,620 shares of the company’s stock worth $1,655,000 after buying an additional 25,994 shares during the period. IndexIQ Advisors LLC increased its holdings in Foundation Building Materials by 8.6% in the 2nd quarter. IndexIQ Advisors LLC now owns 146,706 shares of the company’s stock worth $2,256,000 after buying an additional 11,606 shares during the period. Finally, CIBC World Markets Inc. acquired a new position in Foundation Building Materials in the 2nd quarter worth approximately $179,000. Institutional investors and hedge funds own 91.79% of the company’s stock.

NYSE:FBM opened at $9.79 on Friday. Foundation Building Materials has a 1-year low of $9.26 and a 1-year high of $16.40. The stock has a market capitalization of $419.51 million, a P/E ratio of 32.63 and a beta of 1.37. The company has a quick ratio of 2.19, a current ratio of 2.86 and a debt-to-equity ratio of 2.14.

Foundation Building Materials Company Profile

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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