L.B. Foster Co (NASDAQ:FSTR) – Equities researchers at B. Riley upped their Q2 2019 earnings estimates for shares of L.B. Foster in a research note issued to investors on Monday, May 13th. B. Riley analyst C. Horn now anticipates that the basic materials company will post earnings of $0.51 per share for the quarter, up from their previous estimate of $0.49. B. Riley currently has a “Buy” rating and a $30.00 price objective on the stock. B. Riley also issued estimates for L.B. Foster’s Q4 2019 earnings at $0.51 EPS, FY2019 earnings at $1.94 EPS, Q2 2020 earnings at $0.62 EPS, Q4 2020 earnings at $0.56 EPS and FY2020 earnings at $2.11 EPS.
A number of other equities analysts have also commented on the company. ValuEngine upgraded L.B. Foster from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. Zacks Investment Research upgraded L.B. Foster from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Tuesday, May 7th.
L.B. Foster (NASDAQ:FSTR) last released its quarterly earnings data on Thursday, May 9th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.22. L.B. Foster had a positive return on equity of 11.15% and a negative net margin of 4.21%. The company had revenue of $150.47 million during the quarter, compared to analysts’ expectations of $132.25 million.
A number of institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN increased its stake in L.B. Foster by 5.3% during the 1st quarter. Wells Fargo & Company MN now owns 16,869 shares of the basic materials company’s stock worth $318,000 after acquiring an additional 844 shares during the period. Northern Trust Corp boosted its holdings in shares of L.B. Foster by 0.8% in the 4th quarter. Northern Trust Corp now owns 122,962 shares of the basic materials company’s stock valued at $1,955,000 after purchasing an additional 1,025 shares in the last quarter. Strs Ohio boosted its holdings in shares of L.B. Foster by 4.1% in the 1st quarter. Strs Ohio now owns 30,200 shares of the basic materials company’s stock valued at $568,000 after purchasing an additional 1,200 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of L.B. Foster by 10.1% in the 4th quarter. Bank of America Corp DE now owns 15,700 shares of the basic materials company’s stock valued at $249,000 after purchasing an additional 1,444 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of L.B. Foster by 676.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,113 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 1,841 shares in the last quarter. Hedge funds and other institutional investors own 66.59% of the company’s stock.
L.B. Foster Company Profile
L.B. Foster Company manufactures and distributes products and services for the transportation and energy infrastructure worldwide. Its Rail Products and Services segment offers new rail to passenger and short line freight railroads, industrial companies, and rail contractors; used rails; rail accessories, including track spikes, bolts, angle bars, and other products; power rail, direct fixation fasteners, coverboards, and other accessories; and trackwork products, as well as engineers and fabricates insulated rail joints and related accessories.
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