Equities analysts forecast that Foundation Building Materials, Inc. (NYSE:FBM) will post $535.38 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Foundation Building Materials’ earnings, with the highest sales estimate coming in at $537.00 million and the lowest estimate coming in at $534.86 million. The business is expected to announce 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 sales of $535.38 million for the current fiscal year, with estimates ranging from $2.05 billion to $2.06 billion. For the next year, analysts expect that the company will report sales of $2.24 billion per share, with estimates ranging from $2.20 billion to $2.28 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Foundation Building Materials.

Foundation Building Materials (NYSE:FBM) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, missing the 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.

Several analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Foundation Building Materials from a “hold” rating to a “sell” rating in a report on Monday, September 25th. Robert W. Baird restated a “hold” rating and issued a $15.00 price objective on shares of Foundation Building Materials in a report on Monday, October 9th. Barclays PLC reduced their price objective on shares of Foundation Building Materials from $19.00 to $17.00 and set an “overweight” rating on the stock in a report on Friday, August 4th. Royal Bank Of Canada reduced their price objective on shares of Foundation Building Materials from $20.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, August 4th. Finally, Deutsche Bank AG reduced their price objective on shares of Foundation Building Materials from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. Foundation Building Materials currently has an average rating of “Buy” and an average target price of $18.00.

A number of large investors have recently modified their holdings of FBM. Wells Fargo & Company MN purchased a new stake in Foundation Building Materials during the first quarter worth about $261,000. Bank of New York Mellon Corp purchased a new stake in Foundation Building Materials during the first quarter worth about $519,000. Parametric Portfolio Associates LLC purchased a new stake in Foundation Building Materials during the first quarter worth about $1,256,000. JPMorgan Chase & Co. purchased a new stake in Foundation Building Materials during the first quarter worth about $133,000. Finally, Principal Financial Group Inc. purchased a new stake in Foundation Building Materials during the first quarter worth about $9,582,000. Institutional investors own 92.31% of the company’s stock.

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Shares of Foundation Building Materials (FBM) opened at $13.43 on Friday. The company has a debt-to-equity ratio of 2.01, a quick ratio of 1.76 and a current ratio of 2.53.

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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Earnings History and Estimates for Foundation Building Materials (NYSE:FBM)

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