Q3 2017 EPS Estimates for Foundation Building Materials, Inc. (NYSE:FBM) Reduced by Analyst
Foundation Building Materials, Inc. (NYSE:FBM) – Equities researchers at William Blair reduced their Q3 2017 earnings per share estimates for Foundation Building Materials in a research note issued on Friday. William Blair analyst R. Merkel now forecasts that the company will post earnings of $0.13 per share for the quarter, down from their prior forecast of $0.17. William Blair also issued estimates for Foundation Building Materials’ FY2018 earnings at $0.60 EPS.
A number of other equities research analysts have also recently weighed in on the company. Barclays PLC dropped their price target on Foundation Building Materials from $19.00 to $17.00 and set an “overweight” rating for the company in a report on Friday. Royal Bank Of Canada dropped their price target on Foundation Building Materials from $20.00 to $15.00 and set an “outperform” rating for the company in a report on Friday. Finally, Zacks Investment Research cut Foundation Building Materials from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. Foundation Building Materials presently has an average rating of “Buy” and an average price target of $18.86.
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Foundation Building Materials (NYSE FBM) opened at 11.87 on Monday. The firm’s 50-day moving average price is $12.76 and its 200-day moving average price is $14.77. The firm’s market cap is $508.81 million. Foundation Building Materials has a 12 month low of $11.12 and a 12 month high of $17.91.
Foundation Building Materials (NYSE:FBM) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.11. The business had revenue of $529.20 million during the quarter, compared to the consensus estimate of $536.72 million. The firm’s revenue for the quarter was up 95.9% on a year-over-year basis.
In other Foundation Building Materials news, CFO John Gorey purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The stock was purchased at an average cost of $14.49 per share, with a total value of $144,900.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Ruben Mendoza purchased 32,000 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The shares were acquired at an average cost of $15.56 per share, with a total value of $497,920.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 56,528 shares of company stock valued at $846,016 over the last ninety days.
Large investors have recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. acquired a new stake in Foundation Building Materials during the second quarter worth $285,000. Bank of New York Mellon Corp boosted its stake in Foundation Building Materials by 40.6% in the second quarter. Bank of New York Mellon Corp now owns 45,653 shares of the company’s stock valued at $587,000 after buying an additional 13,191 shares during the period. Rhumbline Advisers purchased a new stake in Foundation Building Materials during the second quarter valued at approximately $175,000. Schwab Charles Investment Management Inc. boosted its stake in Foundation Building Materials by 100.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 49,328 shares of the company’s stock valued at $635,000 after buying an additional 24,666 shares during the period. Finally, Sei Investments Co. boosted its stake in Foundation Building Materials by 67.1% in the second quarter. Sei Investments Co. now owns 54,521 shares of the company’s stock valued at $701,000 after buying an additional 21,900 shares during the period. 91.02% of the stock is owned by hedge funds and other institutional investors.
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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