Equities analysts expect Foundation Building Materials Inc (NYSE:FBM) to report $534.85 million in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Foundation Building Materials’ earnings. The lowest sales estimate is $512.70 million and the highest is $542.00 million. Foundation Building Materials posted sales of $479.46 million during the same quarter last year, which suggests a positive year-over-year growth rate of 11.6%. The company is expected to issue its next quarterly earnings report on Tuesday, May 8th.
On average, analysts expect that Foundation Building Materials will report full-year sales of $534.85 million for the current year, with estimates ranging from $2.23 billion to $2.27 billion. For the next fiscal year, analysts anticipate that the company will report sales of $2.39 billion per share, with estimates ranging from $2.33 billion to $2.41 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Foundation Building Materials.
Foundation Building Materials (NYSE:FBM) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.02 by $0.17. The firm had revenue of $516.77 million during the quarter, compared to the consensus estimate of $513.28 million. Foundation Building Materials had a net margin of 4.00% and a return on equity of 2.44%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.09) earnings per share.
Several equities analysts have recently commented on FBM shares. Zacks Investment Research downgraded shares of Foundation Building Materials from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. Raymond James Financial raised shares of Foundation Building Materials from an “outperform” rating to a “strong-buy” rating and set a $20.00 price target for the company in a research note on Thursday, February 8th. UBS raised shares of Foundation Building Materials from an “outperform” rating to a “strong-buy” rating in a research note on Thursday, February 8th. Citigroup increased their price target on shares of Foundation Building Materials from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, Barclays set a $19.00 price target on shares of Foundation Building Materials and gave the stock a “buy” rating in a research note on Sunday, January 7th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. Foundation Building Materials presently has an average rating of “Buy” and an average target price of $17.57.
Hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can bought a new position in Foundation Building Materials in the fourth quarter worth about $134,000. The Manufacturers Life Insurance Company bought a new position in Foundation Building Materials in the second quarter worth about $143,000. New York State Common Retirement Fund bought a new position in shares of Foundation Building Materials during the second quarter valued at approximately $177,000. Acadian Asset Management LLC bought a new position in shares of Foundation Building Materials during the fourth quarter valued at approximately $294,000. Finally, California State Teachers Retirement System bought a new position in shares of Foundation Building Materials during the second quarter valued at approximately $296,000. 94.19% of the stock is owned by institutional investors.
FBM stock opened at $14.47 on Friday. The company has a market cap of $636.98 and a PE ratio of 7.46. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.50 and a current ratio of 2.26. Foundation Building Materials has a one year low of $11.03 and a one year high of $17.91.
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Foundation Building Materials Company Profile
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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