Equities analysts forecast that FreightCar America, Inc. (NASDAQ:RAIL) will announce sales of $66.00 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for FreightCar America’s earnings, with estimates ranging from $65.20 million to $66.80 million. FreightCar America posted sales of $72.03 million during the same quarter last year, which would suggest a negative year over year growth rate of 8.4%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, November 7th.
On average, analysts expect that FreightCar America will report full-year sales of $284.65 million for the current fiscal year, with estimates ranging from $281.90 million to $287.40 million. For the next financial year, analysts anticipate that the business will report sales of $390.85 million, with estimates ranging from $388.00 million to $393.70 million. Zacks’ sales averages are a mean average based on a survey of research analysts that that provide coverage for FreightCar America.
FreightCar America (NASDAQ:RAIL) last released its earnings results on Wednesday, August 1st. The transportation company reported ($0.19) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.46) by $0.27. FreightCar America had a negative net margin of 10.46% and a negative return on equity of 10.78%. The business had revenue of $66.74 million for the quarter, compared to analyst estimates of $78.30 million.
RAIL has been the topic of a number of research reports. Zacks Investment Research raised shares of FreightCar America from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Thursday, July 5th. ValuEngine raised shares of FreightCar America from a “hold” rating to a “buy” rating in a research note on Tuesday, July 10th. Stephens reissued a “hold” rating and issued a $19.00 target price on shares of FreightCar America in a research note on Thursday, August 2nd. Stifel Nicolaus set a $19.00 target price on shares of FreightCar America and gave the stock a “hold” rating in a research note on Friday, August 3rd. Finally, Buckingham Research lifted their price target on shares of FreightCar America from $16.00 to $19.00 and gave the company a “neutral” rating in a research report on Monday, August 13th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $18.00.
RAIL opened at $15.77 on Friday. FreightCar America has a 1-year low of $12.53 and a 1-year high of $20.14. The company has a market capitalization of $200.29 million, a price-to-earnings ratio of -13.83 and a beta of 1.53.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of FreightCar America by 1.6% during the 2nd quarter. BlackRock Inc. now owns 841,249 shares of the transportation company’s stock valued at $14,125,000 after buying an additional 13,008 shares during the period. Royce & Associates LP raised its position in shares of FreightCar America by 15.0% during the 2nd quarter. Royce & Associates LP now owns 1,460,910 shares of the transportation company’s stock valued at $24,529,000 after buying an additional 190,689 shares during the period. Russell Investments Group Ltd. raised its position in shares of FreightCar America by 4.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,485,733 shares of the transportation company’s stock valued at $24,937,000 after buying an additional 65,922 shares during the period. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of FreightCar America during the 2nd quarter valued at approximately $224,000. Finally, SG Americas Securities LLC purchased a new stake in shares of FreightCar America during the 2nd quarter valued at approximately $115,000. 84.97% of the stock is currently owned by hedge funds and other institutional investors.
FreightCar America Company Profile
FreightCar America, Inc, through its subsidiaries, designs, manufactures, and sells railcars for the transportation of bulk commodities and containerized freight products primarily in North America. The company offers a range of freight cars, including open top hoppers, covered hoppers, and gondolas; intermodal flats, such as well cars; and non-intermodal flat cars comprising slab, hot slab, ribbon rail, and bulkhead flats.
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