FreightCar America, Inc. (RAIL) Expected to Announce Quarterly Sales of $105.65 Million

Equities research analysts expect FreightCar America, Inc. (NASDAQ:RAIL) to post $105.65 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for FreightCar America’s earnings, with estimates ranging from $98.70 million to $112.60 million. FreightCar America posted sales of $135.52 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 22%. The firm is expected to announce its next quarterly earnings report on Monday, February 26th.

According to Zacks, analysts expect that FreightCar America will report full-year sales of $105.65 million for the current financial year, with estimates ranging from $428.90 million to $442.80 million. For the next financial year, analysts forecast that the firm will post sales of $333.40 million per share, with estimates ranging from $322.90 million to $343.90 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for FreightCar America.

FreightCar America (NASDAQ:RAIL) last announced its quarterly earnings results on Wednesday, November 1st. The transportation company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.63). The company had revenue of $72.00 million for the quarter, compared to analyst estimates of $87.20 million. FreightCar America had a negative return on equity of 2.56% and a negative net margin of 2.44%. The company’s revenue for the quarter was down 36.6% on a year-over-year basis.

A number of equities analysts recently issued reports on RAIL shares. Zacks Investment Research lowered FreightCar America from a “hold” rating to a “sell” rating in a report on Friday, November 10th. Stifel Nicolaus reissued a “hold” rating and issued a $14.00 price objective (down from $15.00) on shares of FreightCar America in a report on Tuesday, November 7th. ValuEngine lowered FreightCar America from a “hold” rating to a “sell” rating in a report on Saturday, January 13th. Finally, Seaport Global Securities started coverage on FreightCar America in a report on Thursday, January 4th. They issued a “neutral” rating for the company. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. FreightCar America currently has a consensus rating of “Hold” and an average target price of $16.25.

Shares of FreightCar America (NASDAQ:RAIL) opened at $16.18 on Monday. FreightCar America has a 1 year low of $12.07 and a 1 year high of $20.46.

In other FreightCar America news, Director S Carl Soderstrom, Jr. sold 2,000 shares of the stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $15.01, for a total transaction of $30,020.00. Following the completion of the transaction, the director now directly owns 18,204 shares of the company’s stock, valued at approximately $273,242.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director S Carl Soderstrom, Jr. sold 2,500 shares of the stock in a transaction on Friday, November 17th. The shares were sold at an average price of $15.71, for a total value of $39,275.00. The disclosure for this sale can be found here. Insiders sold a total of 11,500 shares of company stock valued at $179,090 over the last three months. Corporate insiders own 4.13% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp boosted its stake in FreightCar America by 6.9% during the 2nd quarter. State Street Corp now owns 231,566 shares of the transportation company’s stock valued at $4,028,000 after purchasing an additional 14,994 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in FreightCar America by 23.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 397,287 shares of the transportation company’s stock valued at $7,770,000 after purchasing an additional 74,251 shares in the last quarter. Macquarie Group Ltd. bought a new position in FreightCar America during the 3rd quarter valued at $824,000. Numeric Investors LLC bought a new position in FreightCar America during the 2nd quarter valued at $3,680,000. Finally, Cornerstone Capital Management Holdings LLC. boosted its stake in FreightCar America by 39.4% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 91,200 shares of the transportation company’s stock valued at $1,783,000 after purchasing an additional 25,800 shares in the last quarter. 83.94% of the stock is owned by hedge funds and other institutional investors.

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About FreightCar America

FreightCar America, Inc is a manufacturer of railcars and railcar components. The Company operates in the Manufacturing segment. The Company designs and manufactures a range of railcar types for transportation of bulk commodities and containerized freight products primarily in North America, including open top hoppers, covered hoppers, and gondolas along with intermodal and non-intermodal flat cars.

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Earnings History and Estimates for FreightCar America (NASDAQ:RAIL)

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