Equities Analysts Issue Forecasts for Foundation Building Materials, Inc.’s Q3 2017 Earnings (NYSE:FBM)
Foundation Building Materials, Inc. (NYSE:FBM) – Investment analysts at SunTrust Banks cut their Q3 2017 earnings per share (EPS) estimates for shares of Foundation Building Materials in a report issued on Monday. SunTrust Banks analyst K. Hughes now expects that the company will post earnings of $0.18 per share for the quarter, down from their prior estimate of $0.21. SunTrust Banks also issued estimates for Foundation Building Materials’ Q4 2017 earnings at $0.11 EPS, Q1 2018 earnings at $0.08 EPS, Q2 2018 earnings at $0.17 EPS, Q3 2018 earnings at $0.32 EPS and Q4 2018 earnings at $0.22 EPS.
FBM has been the topic of several other reports. Zacks Investment Research lowered Foundation Building Materials from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. Barclays PLC reduced their price target on Foundation Building Materials from $19.00 to $17.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $20.00 price target on shares of Foundation Building Materials in a research report on Monday, April 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. Foundation Building Materials has an average rating of “Buy” and a consensus target price of $18.86.
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Shares of Foundation Building Materials (FBM) opened at 11.76 on Tuesday. Foundation Building Materials has a 1-year low of $11.12 and a 1-year high of $17.91. The stock’s market capitalization is $504.09 million. The company’s 50 day moving average is $12.76 and its 200-day moving average is $14.77.
Foundation Building Materials (NYSE:FBM) last released its earnings results on Thursday, August 3rd. The company reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.11. The company had revenue of $529.20 million for the quarter, compared to analysts’ expectations of $536.72 million. The business’s revenue for the quarter was up 95.9% compared to the same quarter last year.
In related news, CFO John Gorey purchased 10,000 shares of Foundation Building Materials stock in a transaction that occurred on Thursday, May 18th. The shares were purchased at an average cost of $14.49 per share, with a total value of $144,900.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ruben Mendoza purchased 14,000 shares of Foundation Building Materials stock in a transaction that occurred on Friday, May 26th. The shares were bought at an average cost of $13.98 per share, for a total transaction of $195,720.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 56,528 shares of company stock worth $846,016 over the last three months.
A number of institutional investors have recently added to or reduced their stakes in FBM. JPMorgan Chase & Co. acquired a new stake in Foundation Building Materials during the first quarter valued at about $133,000. Rhumbline Advisers acquired a new stake in Foundation Building Materials during the second quarter valued at about $175,000. Bank of America Corp DE acquired a new stake in Foundation Building Materials during the first quarter valued at about $258,000. Wells Fargo & Company MN acquired a new stake in Foundation Building Materials during the first quarter valued at about $261,000. Finally, Prudential Financial Inc. acquired a new stake in Foundation Building Materials during the second quarter valued at about $282,000. 91.02% of the stock is currently 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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