Federal Signal Corporation (FSS) Lowered to Hold at Zacks Investment Research
Zacks Investment Research lowered shares of Federal Signal Corporation (NYSE:FSS) from a buy rating to a hold rating in a research note issued to investors on Wednesday.
According to Zacks, “Federal Signal Corporation is a manufacturer and worldwide supplier of safety, signaling and communications equipment, hazardous area lighting, fire rescue products, street sweeping and vacuum loader vehicles, parking control equipment, custom on-premise signage, carbide cutting tools, precision punches and related die components. “
A number of other analysts also recently issued reports on FSS. KeyCorp raised Federal Signal Corporation from a sector weight rating to an overweight rating and set a $20.00 price target for the company in a report on Tuesday, May 9th. BidaskClub raised Federal Signal Corporation from a hold rating to a buy rating in a report on Tuesday, June 13th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Federal Signal Corporation currently has a consensus rating of Buy and a consensus target price of $20.50.
Federal Signal Corporation (FSS) opened at 18.53 on Wednesday. Federal Signal Corporation has a one year low of $11.68 and a one year high of $20.13. The company’s 50 day moving average price is $18.27 and its 200-day moving average price is $16.10. The company has a market cap of $1.11 billion, a P/E ratio of 28.29 and a beta of 1.37.
Federal Signal Corporation (NYSE:FSS) last released its earnings results on Tuesday, August 8th. The conglomerate reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.03. The firm had revenue of $224.40 million during the quarter, compared to analyst estimates of $206.53 million. Federal Signal Corporation had a return on equity of 10.59% and a net margin of 5.20%. Federal Signal Corporation’s revenue was up 30.2% compared to the same quarter last year. During the same period last year, the business posted $0.17 earnings per share. On average, analysts forecast that Federal Signal Corporation will post $0.79 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Friday, August 11th. Federal Signal Corporation’s dividend payout ratio (DPR) is currently 42.42%.
A number of institutional investors have recently modified their holdings of FSS. BW Gestao de Investimentos Ltda. boosted its position in shares of Federal Signal Corporation by 17.9% in the second quarter. BW Gestao de Investimentos Ltda. now owns 15,715 shares of the conglomerate’s stock valued at $273,000 after buying an additional 2,385 shares during the period. Piedmont Investment Advisors LLC bought a new position in shares of Federal Signal Corporation during the second quarter valued at about $224,000. Susquehanna International Group LLP bought a new position in shares of Federal Signal Corporation during the second quarter valued at about $668,000. Scotia Capital Inc. boosted its position in shares of Federal Signal Corporation by 14.7% in the second quarter. Scotia Capital Inc. now owns 70,140 shares of the conglomerate’s stock valued at $1,217,000 after buying an additional 8,997 shares during the period. Finally, Mitra Capital LLC bought a new position in shares of Federal Signal Corporation during the second quarter valued at about $1,825,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.
Federal Signal Corporation Company Profile
Federal Signal Corporation designs, manufactures and supplies a suite of products and integrated solutions for municipal, governmental, industrial and commercial customers. The Company’s segments include the Environmental Solutions Group and the Safety and Security Systems Group. Its Environmental Solutions Group manufactures and supplies a range of street sweeper vehicles, sewer cleaner and vacuum loader trucks, hydro-excavation trucks and waterblasting equipment.
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