Foundation Building Materials Inc (FBM) Expected to Announce Earnings of $0.10 Per Share

Analysts expect that Foundation Building Materials Inc (NYSE:FBM) will announce $0.10 earnings per share (EPS) for the current quarter, according to Zacks. Five analysts have provided estimates for Foundation Building Materials’ earnings, with the highest EPS estimate coming in at $0.12 and the lowest estimate coming in at $0.09. Foundation Building Materials posted earnings per share of $0.19 in the same quarter last year, which would indicate a negative year over year growth rate of 47.4%. The company is scheduled to issue its next quarterly earnings report after the market closes on Monday, February 25th.

According to Zacks, analysts expect that Foundation Building Materials will report full-year earnings of $0.48 per share for the current year, with EPS estimates ranging from $0.47 to $0.49. For the next financial year, analysts expect that the business will post earnings of $0.90 per share, with EPS estimates ranging from $0.85 to $0.97. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Foundation Building Materials.

Several brokerages have recently commented on FBM. ValuEngine lowered Foundation Building Materials from a “hold” rating to a “sell” rating in a report on Thursday, October 18th. Zacks Investment Research downgraded Foundation Building Materials from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. Barclays set a $15.00 target price on Foundation Building Materials and gave the company a “buy” rating in a research report on Saturday, November 3rd. TheStreet downgraded Foundation Building Materials from a “c-” rating to a “d+” rating in a research report on Thursday, October 25th. Finally, Credit Suisse Group initiated coverage on Foundation Building Materials in a research report on Friday, January 11th. They issued a “neutral” rating and a $9.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $14.60.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its position in shares of Foundation Building Materials by 216.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 9,788 shares of the company’s stock valued at $122,000 after acquiring an additional 6,694 shares during the period. Meeder Asset Management Inc. increased its position in shares of Foundation Building Materials by 3,253.6% in the 3rd quarter. Meeder Asset Management Inc. now owns 11,570 shares of the company’s stock valued at $145,000 after acquiring an additional 11,225 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Foundation Building Materials in the 3rd quarter valued at $162,000. Rhumbline Advisers increased its position in shares of Foundation Building Materials by 42.3% in the 4th quarter. Rhumbline Advisers now owns 20,189 shares of the company’s stock valued at $168,000 after acquiring an additional 5,997 shares during the period. Finally, AQR Capital Management LLC acquired a new position in shares of Foundation Building Materials in the 3rd quarter valued at $249,000. 91.92% of the stock is currently owned by hedge funds and other institutional investors.

Shares of FBM opened at $8.74 on Friday. Foundation Building Materials has a 12 month low of $7.62 and a 12 month high of $16.32. The company has a quick ratio of 2.19, a current ratio of 2.86 and a debt-to-equity ratio of 2.14. The firm has a market cap of $374.90 million, a PE ratio of 29.13 and a beta of 1.41.

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.

Further Reading: Preferred Stock

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