Analysts Anticipate Foundation Building Materials Inc (NYSE:FBM) Will Post Quarterly Sales of $501.01 Million

Equities research analysts expect that Foundation Building Materials Inc (NYSE:FBM) will post sales of $501.01 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Foundation Building Materials’ earnings. The highest sales estimate is $536.74 million and the lowest is $477.00 million. Foundation Building Materials posted sales of $559.91 million in the same quarter last year, which would indicate a negative year over year growth rate of 10.5%. The firm is scheduled to announce its next earnings report on Monday, August 3rd.

According to Zacks, analysts expect that Foundation Building Materials will report full-year sales of $2.10 billion for the current financial year, with estimates ranging from $2.02 billion to $2.17 billion. For the next financial year, analysts forecast that the firm will report sales of $2.16 billion, with estimates ranging from $2.05 billion to $2.24 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Foundation Building Materials.

Foundation Building Materials (NYSE:FBM) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.09. Foundation Building Materials had a return on equity of 12.82% and a net margin of 2.36%. The firm had revenue of $524.26 million during the quarter, compared to analysts’ expectations of $519.49 million. During the same quarter in the previous year, the business earned $0.14 earnings per share. The company’s revenue was up 1.8% on a year-over-year basis.

Several research firms have issued reports on FBM. SunTrust Banks cut their price target on Foundation Building Materials from $24.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, April 16th. Royal Bank of Canada reissued a “hold” rating and set a $15.00 price target on shares of Foundation Building Materials in a report on Monday. TheStreet raised Foundation Building Materials from a “c” rating to a “b-” rating in a report on Monday, June 22nd. Zacks Investment Research lowered Foundation Building Materials from a “buy” rating to a “hold” rating in a report on Thursday, April 9th. Finally, ValuEngine raised Foundation Building Materials from a “sell” rating to a “hold” rating in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $16.75.

Shares of FBM remained flat at $$14.87 during trading hours on Friday. The company had a trading volume of 172,272 shares, compared to its average volume of 349,192. The company has a debt-to-equity ratio of 1.84, a current ratio of 2.74 and a quick ratio of 2.02. Foundation Building Materials has a one year low of $7.99 and a one year high of $22.14. The company has a market cap of $674.40 million, a price-to-earnings ratio of 12.60, a PEG ratio of 29.93 and a beta of 1.71. The firm has a 50 day moving average price of $14.33 and a two-hundred day moving average price of $14.92.

A number of hedge funds have recently modified their holdings of FBM. California Public Employees Retirement System raised its position in Foundation Building Materials by 93.0% during the fourth quarter. California Public Employees Retirement System now owns 22,664 shares of the company’s stock valued at $439,000 after purchasing an additional 10,918 shares during the period. Principal Financial Group Inc. bought a new position in shares of Foundation Building Materials during the fourth quarter valued at approximately $2,705,000. New York State Common Retirement Fund grew its stake in shares of Foundation Building Materials by 148.9% during the fourth quarter. New York State Common Retirement Fund now owns 34,355 shares of the company’s stock valued at $665,000 after buying an additional 20,555 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Foundation Building Materials by 105.9% during the fourth quarter. Rhumbline Advisers now owns 45,398 shares of the company’s stock valued at $878,000 after buying an additional 23,351 shares during the last quarter. Finally, American International Group Inc. grew its stake in shares of Foundation Building Materials by 54.0% during the fourth quarter. American International Group Inc. now owns 14,431 shares of the company’s stock valued at $279,000 after buying an additional 5,061 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

About Foundation Building Materials

Foundation Building Materials, Inc distributes building products in the United States and Canada. It offers wallboard, suspended ceiling system, and metal framing products. The company also provides complementary and other products, tools, and accessories, such as wallboard accessories, stucco and finishing systems, safety accessories, fasteners, insulations, doors, and roofing products.

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