Limbach (NASDAQ:LMB) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Limbach (NASDAQ:LMB) announced its quarterly earnings results on Tuesday. The construction company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.05, Briefing.com reports. The company had revenue of $133.90 million for the quarter, compared to analysts’ expectations of $129.50 million. Limbach had a net margin of 5.08% and a return on equity of 21.06%. Limbach’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.61 earnings per share. Limbach updated its FY 2024 guidance to EPS.

Limbach Price Performance

Shares of NASDAQ LMB traded down $0.04 during midday trading on Thursday, reaching $93.75. The stock had a trading volume of 211,792 shares, compared to its average volume of 164,109. The stock has a 50-day moving average of $75.75 and a 200-day moving average of $62.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.63 and a current ratio of 1.63. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 42.81, a price-to-earnings-growth ratio of 2.52 and a beta of 0.97. Limbach has a 12-month low of $29.55 and a 12-month high of $95.26.

Analyst Ratings Changes

Several brokerages have recently issued reports on LMB. StockNews.com upgraded shares of Limbach from a “hold” rating to a “buy” rating in a research note on Wednesday. Roth Mkm upped their target price on shares of Limbach from $67.00 to $80.00 and gave the company a “buy” rating in a report on Monday.

Insider Transactions at Limbach

In related news, Director Joshua Horowitz sold 5,000 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $64.02, for a total transaction of $320,100.00. Following the completion of the transaction, the director now directly owns 190,000 shares of the company’s stock, valued at approximately $12,163,800. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 40,072 shares of company stock valued at $2,418,821 over the last three months. Corporate insiders own 10.20% of the company’s stock.

Limbach Company Profile

Limbach Holdings, Inc operates as a building systems solution company in the United States. It operates through two segments, General Contractor Relationships and Owner Direct Relationships. The company engages in the construction and renovation projects that involve primarily include mechanical, plumbing, and electrical services.