Freightcar America (NASDAQ:RAIL) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Freightcar America (NASDAQ:RAIL) posted its quarterly earnings results on Monday. The transportation company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02), FiscalAI reports. The company had revenue of $125.57 million during the quarter, compared to the consensus estimate of $144.95 million. Freightcar America had a net margin of 17.40% and a negative return on equity of 17.35%.

Freightcar America Stock Down 0.4%

Shares of RAIL traded down $0.05 during midday trading on Monday, reaching $12.68. 282,493 shares of the stock were exchanged, compared to its average volume of 143,766. The stock’s 50 day simple moving average is $12.31 and its 200 day simple moving average is $10.18. The company has a market cap of $241.93 million, a P/E ratio of 4.80 and a beta of 1.75. Freightcar America has a twelve month low of $4.31 and a twelve month high of $14.90.

Wall Street Analysts Forecast Growth

RAIL has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Freightcar America from a “hold” rating to a “buy” rating in a research note on Sunday, December 28th. Weiss Ratings upgraded Freightcar America from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $9.00.

Institutional Trading of Freightcar America

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Freightcar America by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 631,029 shares of the transportation company’s stock valued at $6,171,000 after purchasing an additional 13,301 shares during the period. Marshall Wace LLP increased its holdings in shares of Freightcar America by 92.4% during the fourth quarter. Marshall Wace LLP now owns 446,420 shares of the transportation company’s stock worth $4,942,000 after purchasing an additional 214,397 shares during the period. Essex Investment Management Co. LLC raised its position in shares of Freightcar America by 68.7% in the fourth quarter. Essex Investment Management Co. LLC now owns 346,144 shares of the transportation company’s stock valued at $3,832,000 after buying an additional 140,946 shares in the last quarter. Ancora Advisors LLC raised its position in shares of Freightcar America by 12.9% in the third quarter. Ancora Advisors LLC now owns 328,921 shares of the transportation company’s stock valued at $3,217,000 after buying an additional 37,530 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Freightcar America by 29.7% in the fourth quarter. Russell Investments Group Ltd. now owns 174,622 shares of the transportation company’s stock valued at $1,933,000 after buying an additional 39,936 shares during the period. Institutional investors and hedge funds own 31.96% of the company’s stock.

About Freightcar America

FreightCar America, Inc is a designer and manufacturer of specialized railroad freight cars, offering a diverse range of products that include tank cars, open and covered hoppers, gondolas, boxcars and centerbeam lumber cars. The company supports both new car construction and the rebuilding of existing fleets, providing custom engineering solutions to meet customer specifications and industry regulations. FreightCar America also supplies aftermarket parts, maintenance services and component remanufacturing for its own fleet and for third-party car owners.

Headquartered in Chicago, Illinois, FreightCar America traces its origins to early 20th-century railcar builders and began trading as an independent, publicly-listed company on the NASDAQ under the ticker RAIL following a spin-off in 2010.