Foundation Building Materials (NYSE:FBM) – SunTrust Banks issued their Q3 2019 earnings estimates for Foundation Building Materials in a report issued on Wednesday, May 9th. SunTrust Banks analyst K. Hughes anticipates that the company will post earnings per share of $0.33 for the quarter.
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Foundation Building Materials (NYSE:FBM) last announced its quarterly earnings data on Wednesday, May 9th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.01. Foundation Building Materials had a return on equity of 3.88% and a net margin of 3.66%. The business had revenue of $536.30 million during the quarter, compared to analyst estimates of $533.99 million. During the same period last year, the company earned ($0.02) earnings per share. Foundation Building Materials’s quarterly revenue was up 11.8% compared to the same quarter last year.
Several other brokerages have also issued reports on FBM. Deutsche Bank cut their price objective on Foundation Building Materials from $18.00 to $17.00 and set a “buy” rating for the company in a report on Monday, April 9th. Zacks Investment Research lowered Foundation Building Materials from a “buy” rating to a “hold” rating in a report on Friday, March 9th. Raymond James upgraded Foundation Building Materials from an “outperform” rating to a “strong-buy” rating and set a $20.00 target price on the stock in a report on Thursday, February 8th. UBS upgraded Foundation Building Materials from an “outperform” rating to a “strong-buy” rating in a report on Thursday, February 8th. Finally, Citigroup raised their target price on Foundation Building Materials from $17.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $17.71.
Shares of NYSE:FBM traded down $0.20 during midday trading on Friday, hitting $14.36. 449 shares of the stock were exchanged, compared to its average volume of 99,323. The company has a current ratio of 2.26, a quick ratio of 1.50 and a debt-to-equity ratio of 1.54. Foundation Building Materials has a 52-week low of $14.34 and a 52-week high of $14.53. The firm has a market cap of $597.54 million, a price-to-earnings ratio of 48.53 and a beta of 0.34.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FBM. Tygh Capital Management Inc. boosted its holdings in Foundation Building Materials by 438.1% during the fourth quarter. Tygh Capital Management Inc. now owns 394,114 shares of the company’s stock valued at $5,829,000 after purchasing an additional 320,874 shares in the last quarter. Driehaus Capital Management LLC raised its stake in shares of Foundation Building Materials by 58.6% in the fourth quarter. Driehaus Capital Management LLC now owns 533,738 shares of the company’s stock valued at $7,894,000 after acquiring an additional 197,162 shares during the last quarter. Clearbridge Investments LLC raised its stake in shares of Foundation Building Materials by 7,379.6% in the fourth quarter. Clearbridge Investments LLC now owns 188,487 shares of the company’s stock valued at $2,788,000 after acquiring an additional 185,967 shares during the last quarter. SG Capital Management LLC bought a new position in shares of Foundation Building Materials in the fourth quarter valued at approximately $2,442,000. Finally, Paradigm Capital Management Inc. NY raised its position in Foundation Building Materials by 36.3% in the 4th quarter. Paradigm Capital Management Inc. NY now owns 499,300 shares of the company’s stock worth $7,385,000 after purchasing an additional 133,100 shares during the last quarter. 94.26% of the stock is currently owned by institutional investors.
Foundation Building Materials Company Profile
Foundation Building Materials, Inc distributes building products in the United States and Canada. It operates through two segments, Specialty Building Products and Mechanical Insulation. The Specialty Building Products segment distributes wallboard, metal framing, suspended ceiling system, and other products.