Foundation Building Materials, Inc. (NYSE:FBM) Expected to Announce Earnings of $0.20 Per Share
Wall Street analysts expect Foundation Building Materials, Inc. (NYSE:FBM) to announce $0.20 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Foundation Building Materials’ earnings, with the lowest EPS estimate coming in at $0.17 and the highest estimate coming in at $0.23. The firm is expected to issue its next earnings results on Thursday, November 2nd.
On average, analysts expect that Foundation Building Materials will report full year earnings of $0.62 per share for the current year, with EPS estimates ranging from $0.61 to $0.62. For the next financial year, analysts anticipate that the company will post earnings of $0.86 per share, with EPS estimates ranging from $0.75 to $0.99. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover Foundation Building Materials.
Foundation Building Materials (NYSE:FBM) last posted its earnings results on Thursday, August 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.11. The business had revenue of $529.20 million for the quarter, compared to analyst estimates of $536.72 million. The company’s revenue was up 95.9% on a year-over-year basis.
FBM has been the subject of several recent analyst reports. Royal Bank Of Canada reissued a “buy” rating and issued a $20.00 price target on shares of Foundation Building Materials in a report on Monday, April 10th. Zacks Investment Research downgraded Foundation Building Materials from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $19.14.
In related news, insider Ruben Mendoza purchased 14,000 shares of Foundation Building Materials stock in a transaction that occurred on Friday, May 26th. The stock was bought at an average cost of $13.98 per share, for a total transaction of $195,720.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO John Gorey purchased 10,000 shares of Foundation Building Materials stock in a transaction that occurred on Thursday, May 18th. The shares were bought at an average price of $14.49 per share, with a total value of $144,900.00. The disclosure for this purchase can be found here. Insiders have purchased 56,528 shares of company stock valued at $846,016 in the last ninety days.
A number of hedge funds and other institutional investors have recently made changes to their positions in FBM. Russell Investments Group Ltd. bought a new position in shares of Foundation Building Materials during the first quarter valued at $2,385,000. Wells Fargo & Company MN bought a new position in shares of Foundation Building Materials during the first quarter valued at $261,000. Kornitzer Capital Management Inc. KS bought a new position in shares of Foundation Building Materials during the first quarter valued at $1,773,000. American Century Companies Inc. bought a new position in shares of Foundation Building Materials during the first quarter valued at $10,095,000. Finally, Boston Partners bought a new position in shares of Foundation Building Materials during the first quarter valued at $9,242,000. Institutional investors own 91.01% of the company’s stock.
Foundation Building Materials (NYSE:FBM) remained flat at $11.86 during trading on Tuesday. 215,104 shares of the stock were exchanged. The company’s market capitalization is $508.38 million. Foundation Building Materials has a 52 week low of $11.22 and a 52 week high of $17.91. The stock’s 50 day moving average is $12.76 and its 200 day moving average is $14.77.
About Foundation Building Materials
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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