Zacks: Analysts Anticipate Foundation Building Materials Inc (FBM) to Post $0.19 EPS

Wall Street analysts forecast that Foundation Building Materials Inc (NYSE:FBM) will report $0.19 earnings per share (EPS) for the current quarter, Zacks reports. Four analysts have made estimates for Foundation Building Materials’ earnings. The lowest EPS estimate is $0.11 and the highest is $0.24. Foundation Building Materials posted earnings of $0.08 per share in the same quarter last year, which would suggest a positive year over year growth rate of 137.5%. The business is scheduled to announce its next quarterly earnings results on Tuesday, November 6th.

According to Zacks, analysts expect that Foundation Building Materials will report full-year earnings of $0.57 per share for the current financial year, with EPS estimates ranging from $0.50 to $0.66. For the next fiscal year, analysts anticipate that the firm will post earnings of $0.96 per share, with EPS estimates ranging from $0.75 to $1.04. Zacks Investment Research’s earnings per share calculations are a mean 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 data on Thursday, August 9th. The company reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.06). The company had revenue of $605.00 million for the quarter, compared to analyst estimates of $586.66 million. Foundation Building Materials had a return on equity of 5.26% and a net margin of 3.72%. Foundation Building Materials’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.03 earnings per share.



FBM has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of Foundation Building Materials from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Barclays set a $18.00 price objective on shares of Foundation Building Materials and gave the stock a “buy” rating in a report on Thursday, May 10th. Deutsche Bank raised their price objective on shares of Foundation Building Materials from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, June 25th. Finally, Evercore ISI initiated coverage on shares of Foundation Building Materials in a report on Thursday, June 28th. They set an “in-line” rating and a $17.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $17.75.

Several institutional investors have recently bought and sold shares of the company. Citigroup Inc. lifted its position in shares of Foundation Building Materials by 254.0% in the 1st quarter. Citigroup Inc. now owns 7,189 shares of the company’s stock worth $107,000 after buying an additional 5,158 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Foundation Building Materials by 32.8% in the 4th 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. GSA Capital Partners LLP lifted its position in shares of Foundation Building Materials by 23.9% in the 2nd quarter. GSA Capital Partners LLP now owns 46,414 shares of the company’s stock worth $714,000 after buying an additional 8,945 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Foundation Building Materials in the 2nd quarter worth about $174,000. Finally, Teachers Advisors LLC lifted its position in shares of Foundation Building Materials by 29.9% in the 4th 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. Institutional investors own 93.32% of the company’s stock.

Foundation Building Materials traded down $0.16, hitting $13.18, during mid-day trading on Tuesday, Marketbeat.com reports. 151,752 shares of the company were exchanged, compared to its average volume of 96,797. The firm has a market cap of $572.20 million, a P/E ratio of 43.93 and a beta of 0.29. The company has a debt-to-equity ratio of 1.66, a current ratio of 2.48 and a quick ratio of 1.65. Foundation Building Materials has a twelve month low of $11.03 and a twelve month high of $16.40.

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.

Further Reading: Growth Stocks

Get a free copy of the Zacks research report on Foundation Building Materials (FBM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Foundation Building Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Foundation Building Materials and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply