$534.85 Million in Sales Expected for Foundation Building Materials Inc (FBM) This Quarter

Analysts forecast that Foundation Building Materials Inc (NYSE:FBM) will post sales of $534.85 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Foundation Building Materials’ earnings. The lowest sales estimate is $512.70 million and the highest is $542.00 million. Foundation Building Materials posted sales of $479.46 million during the same quarter last year, which suggests a positive year-over-year growth rate of 11.6%. The business is scheduled to report its next earnings results on Tuesday, May 8th.

According to Zacks, analysts expect that Foundation Building Materials will report full year sales of $534.85 million for the current year, with estimates ranging from $2.23 billion to $2.27 billion. For the next year, analysts forecast that the firm 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 sell-side research analysts that cover Foundation Building Materials.

Foundation Building Materials (NYSE:FBM) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.17. The firm had revenue of $516.77 million for the quarter, compared to the consensus estimate of $513.28 million. Foundation Building Materials had a net margin of 4.00% and a return on equity of 2.44%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.09) EPS.



A number of brokerages have recently issued reports on FBM. Barclays set a $19.00 price target on shares of Foundation Building Materials and gave the company a “buy” rating in a report on Sunday, January 7th. Zacks Investment Research raised shares of Foundation Building Materials from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a report on Thursday, March 8th. Citigroup raised their price target on shares of Foundation Building Materials from $17.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, January 25th. UBS raised shares of Foundation Building Materials from an “outperform” rating to a “strong-buy” rating in a report on Thursday, February 8th. Finally, Raymond James Financial raised shares of Foundation Building Materials from an “outperform” rating to a “strong-buy” rating and set a $20.00 price target on the stock in a report on Thursday, February 8th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $17.71.

Shares of NYSE FBM traded down $0.03 during trading on Tuesday, reaching $14.49. 25,275 shares of the company traded hands, 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 company has a market cap of $618.98, a PE ratio of 80.22 and a beta of 0.30. Foundation Building Materials has a 52-week low of $11.03 and a 52-week high of $17.00.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Swiss National Bank boosted its holdings in shares of Foundation Building Materials by 31.6% in the fourth quarter. Swiss National Bank now owns 32,900 shares of the company’s stock worth $487,000 after buying an additional 7,900 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Foundation Building Materials by 32.8% in the fourth quarter. Wells Fargo & Company MN now owns 36,071 shares of the company’s stock worth $533,000 after buying an additional 8,907 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of Foundation Building Materials in the fourth quarter worth approximately $134,000. The Manufacturers Life Insurance Company purchased a new position in shares of Foundation Building Materials in the second quarter worth approximately $143,000. Finally, Teachers Advisors LLC boosted its holdings 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 worth $730,000 after buying an additional 11,354 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors.

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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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