Zacks: Brokerages Anticipate Foundation Building Materials, Inc. (FBM) Will Post Earnings of $0.07 Per Share
Wall Street brokerages predict that Foundation Building Materials, Inc. (NYSE:FBM) will report earnings of $0.07 per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Foundation Building Materials’ earnings, with estimates ranging from $0.02 to $0.11. The company is expected to report its next quarterly earnings results before the market opens on Tuesday, November 7th.
According to Zacks, analysts expect that Foundation Building Materials will report full year earnings of $0.29 per share for the current fiscal year, with EPS estimates ranging from $0.16 to $0.36. For the next financial year, analysts forecast that the firm will report earnings of $0.60 per share, with EPS estimates ranging from $0.42 to $0.76. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Foundation Building Materials.
Foundation Building Materials (NYSE:FBM) last announced its earnings results on Thursday, August 3rd. The company reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.11). The company had revenue of $529.20 million during the quarter, compared to analyst estimates of $536.72 million. The firm’s revenue was up 95.9% on a year-over-year basis.
A number of equities research analysts recently commented on the company. Royal Bank Of Canada reaffirmed a “buy” rating and set a $15.00 price objective on shares of Foundation Building Materials in a research note on Wednesday, September 6th. Deutsche Bank AG dropped their target price on Foundation Building Materials from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, August 9th. Zacks Investment Research upgraded Foundation Building Materials from a “sell” rating to a “hold” rating in a report on Tuesday, September 19th. Barclays PLC dropped their price objective on Foundation Building Materials from $19.00 to $17.00 and set an “overweight” rating on the stock in a research note on Friday, August 4th. Finally, Robert W. Baird restated a “hold” rating and issued a $15.00 price objective on shares of Foundation Building Materials in a research note on Monday, October 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $18.00.
A number of institutional investors have recently modified their holdings of FBM. Wells Fargo & Company MN acquired a new stake in Foundation Building Materials during the 1st quarter worth about $261,000. Bank of New York Mellon Corp acquired a new stake in Foundation Building Materials during the 1st quarter worth about $519,000. Parametric Portfolio Associates LLC acquired a new stake in Foundation Building Materials during the 1st quarter worth about $1,256,000. JPMorgan Chase & Co. acquired a new stake in Foundation Building Materials during the 1st quarter worth about $133,000. Finally, Principal Financial Group Inc. acquired a new stake in Foundation Building Materials during the 1st quarter worth about $9,582,000. Hedge funds and other institutional investors own 92.31% of the company’s stock.
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About Foundation Building Materials
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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