L.B. Foster’s “Neutral” Rating Reaffirmed at Zacks (FSTR)
L.B. Foster (NASDAQ:FSTR)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued on Tuesday. They currently have a $57.00 price objective on the stock. Zacks‘s price objective indicates a potential upside of 5.58% from the company’s current price.
Zacks’ analyst wrote, “Foster reported disappointing results for the first quarter of 2014, with year-over-year decline in earnings as well as revenues. Earnings decreased 27% to $0.35 per share while revenues slipped 14% to $111.4 million. Exiting the quarter, backlog in the Tubular and Construction Products segments increased year over year while declined for the Rail segment. For the quarters ahead, management anticipates to benefit from a favorable business environment, which will lead to a rise in sales and earnings. Also, we believe that the acquisition of Ball Winch will prove beneficial for the company and add to its inorganic growth. However, the presence of many players in the industry endangers the company’s growth prospects. Based on these factors, we prefer to have a balanced view on the stock with a Neutral recommendation.”
A number of other firms have also recently commented on FSTR. Analysts at Stifel raised their price target on shares of L.B. Foster from $52.00 to $56.00 in a research note on Tuesday, June 3rd. They now have a “buy” rating on the stock. Separately, analysts at Stifel Nicolaus raised their price target on shares of L.B. Foster from $52.00 to $56.00 in a research note on Tuesday, June 3rd. They now have a “buy” rating on the stock. Finally, analysts at Stifel Nicolaus raised their price target on shares of L.B. Foster from $51.00 to $52.00 in a research note on Tuesday, May 6th.
L.B. Foster (NASDAQ:FSTR) traded up 1.18% during mid-day trading on Tuesday, hitting $54.6279. 6,176 shares of the company’s stock traded hands. L.B. Foster has a one year low of $39.14 and a one year high of $54.43. The stock has a 50-day moving average of $48.91 and a 200-day moving average of $46.35. The company has a market cap of $564.7 million and a P/E ratio of 19.83.
L.B. Foster (NASDAQ:FSTR) last released its earnings data on Monday, May 5th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by $0.18. The company had revenue of $111.40 million for the quarter, compared to the consensus estimate of $123.90 million. During the same quarter in the previous year, the company posted $0.48 earnings per share. The company’s revenue for the quarter was down 13.8% on a year-over-year basis. Analysts expect that L.B. Foster will post $2.91 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, June 20th. Investors of record on Friday, June 6th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.22%. The ex-dividend date is Wednesday, June 4th.
L. B. Foster Company (NASDAQ:FSTR) is engaged in the manufacture, fabrication and distribution of rail, construction and tubular products.
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