Zacks: Brokerages Anticipate Foundation Building Materials Inc (FBM) to Announce $0.02 Earnings Per Share

Brokerages expect Foundation Building Materials Inc (NYSE:FBM) to announce $0.02 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Foundation Building Materials’ earnings. The lowest EPS estimate is ($0.01) and the highest is $0.05. Foundation Building Materials reported earnings per share of ($0.29) in the same quarter last year, which would suggest a positive year-over-year growth rate of 106.9%. The company is expected to issue its next earnings report before the market opens on Tuesday, February 27th.

On average, analysts expect that Foundation Building Materials will report full-year earnings of $0.18 per share for the current year, with EPS estimates ranging from $0.15 to $0.21. For the next fiscal year, analysts anticipate that the business will report earnings of $0.48 per share, with EPS estimates ranging from $0.37 to $0.62. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Foundation Building Materials.

FBM has been the topic of a number of research reports. Royal Bank of Canada lifted their price objective on Foundation Building Materials from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 8th. Robert W. Baird reaffirmed a “hold” rating and issued a $16.00 price objective on shares of Foundation Building Materials in a research note on Friday, November 10th. Zacks Investment Research raised Foundation Building Materials from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 13th. Barclays set a $19.00 price objective on Foundation Building Materials and gave the stock a “buy” rating in a research note on Sunday, January 7th. Finally, Citigroup lifted their price objective on Foundation Building Materials from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $18.43.

Shares of Foundation Building Materials (FBM) opened at $14.06 on Friday. The company has a debt-to-equity ratio of 2.02, a current ratio of 2.63 and a quick ratio of 1.82. Foundation Building Materials has a 12 month low of $11.03 and a 12 month high of $17.91.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. increased its position in shares of Foundation Building Materials by 44.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 317,464 shares of the company’s stock valued at $4,489,000 after purchasing an additional 97,898 shares during the last quarter. Swiss National Bank bought a new position in shares of Foundation Building Materials during the 2nd quarter valued at approximately $322,000. Elk Creek Partners LLC increased its position in shares of Foundation Building Materials by 7.3% during the 3rd quarter. Elk Creek Partners LLC now owns 576,205 shares of the company’s stock valued at $8,148,000 after purchasing an additional 39,403 shares during the last quarter. Alyeska Investment Group L.P. increased its position in shares of Foundation Building Materials by 47.0% during the 3rd quarter. Alyeska Investment Group L.P. now owns 1,356,013 shares of the company’s stock valued at $19,174,000 after purchasing an additional 433,700 shares during the last quarter. Finally, Teachers Advisors LLC grew its position in Foundation Building Materials by 51.1% in the 2nd quarter. Teachers Advisors LLC now owns 22,477 shares of the company’s stock valued at $289,000 after acquiring an additional 7,601 shares during the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

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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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