Foundation Building Materials Inc (NYSE:FBM) Expected to Announce Earnings of $0.09 Per Share

Analysts expect that Foundation Building Materials Inc (NYSE:FBM) will announce $0.09 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Foundation Building Materials’ earnings, with the highest EPS estimate coming in at $0.27 and the lowest estimate coming in at ($0.11). Foundation Building Materials reported earnings of $0.37 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 75.7%. The firm is expected to announce its next earnings report on Monday, August 3rd.

According to Zacks, analysts expect that Foundation Building Materials will report full-year earnings of $0.77 per share for the current year, with EPS estimates ranging from $0.50 to $1.18. For the next financial year, analysts anticipate that the business will report earnings of $0.99 per share, with EPS estimates ranging from $0.85 to $1.14. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Foundation Building Materials.

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

Several analysts have issued reports on the stock. SunTrust Banks lowered their price objective on shares of Foundation Building Materials from $24.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, April 16th. Barclays reaffirmed a “buy” rating and set a $16.00 price target on shares of Foundation Building Materials in a report on Wednesday, May 13th. Zacks Investment Research lowered shares of Foundation Building Materials from a “buy” rating to a “hold” rating in a report on Thursday, April 9th. TheStreet upgraded Foundation Building Materials from a “c” rating to a “b-” rating in a research note on Monday, June 22nd. Finally, Bank of America lowered Foundation Building Materials from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $24.00 to $15.00 in a research report on Thursday, March 12th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Foundation Building Materials has a consensus rating of “Hold” and an average price target of $16.75.

A number of large investors have recently bought and sold shares of FBM. Paragon Capital Management LLC acquired a new stake in shares of Foundation Building Materials during the 1st quarter valued at approximately $38,000. Point72 Hong Kong Ltd bought a new stake in Foundation Building Materials during the fourth quarter valued at $48,000. Great West Life Assurance Co. Can raised its holdings in shares of Foundation Building Materials by 233.3% during the fourth quarter. Great West Life Assurance Co. Can now owns 2,830 shares of the company’s stock worth $54,000 after purchasing an additional 1,981 shares during the period. Oregon Public Employees Retirement Fund acquired a new position in shares of Foundation Building Materials in the 1st quarter valued at about $74,000. Finally, BNP Paribas Arbitrage SA grew its position in shares of Foundation Building Materials by 27.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,491 shares of the company’s stock valued at $77,000 after buying an additional 1,615 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

Shares of NYSE:FBM remained flat at $$14.87 during mid-day trading on Thursday. The company had a trading volume of 172,272 shares, compared to its average volume of 349,192. The stock’s 50-day moving average price is $14.33 and its 200 day moving average price is $14.92. The firm has a market capitalization of $674.40 million, a price-to-earnings ratio of 12.60, a P/E/G ratio of 29.93 and a beta of 1.71. The company has a debt-to-equity ratio of 1.84, a quick ratio of 2.02 and a current ratio of 2.74. Foundation Building Materials has a 1-year low of $7.99 and a 1-year high of $22.14.

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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