Foundation Building Materials Inc (FBM) Expected to Post Quarterly Sales of $511.31 Million

Equities research analysts expect Foundation Building Materials Inc (NYSE:FBM) to post sales of $511.31 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Foundation Building Materials’ earnings, with the lowest sales estimate coming in at $504.10 million and the highest estimate coming in at $519.00 million. Foundation Building Materials posted sales of $516.77 million during the same quarter last year, which would indicate a negative year over year growth rate of 1.1%. The business is scheduled to report its next earnings report on Tuesday, February 26th.

According to Zacks, analysts expect that Foundation Building Materials will report full year sales of $2.12 billion for the current year, with estimates ranging from $2.03 billion to $2.20 billion. For the next year, analysts expect that the business will post sales of $2.19 billion, with estimates ranging from $2.14 billion to $2.21 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Foundation Building Materials.

Foundation Building Materials (NYSE:FBM) last announced its quarterly earnings results on Thursday, November 1st. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06. The company had revenue of $542.30 million for the quarter, compared to the consensus estimate of $555.47 million. Foundation Building Materials had a net margin of 2.07% and a return on equity of 6.25%. Foundation Building Materials’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.08 EPS.

A number of analysts have issued reports on FBM shares. Zacks Investment Research downgraded shares of Foundation Building Materials from a “buy” rating to a “hold” rating in a report on Monday, August 13th. Barclays reduced their price target on shares of Foundation Building Materials from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, August 13th. ValuEngine downgraded shares of Foundation Building Materials from a “hold” rating to a “sell” rating in a report on Thursday, October 18th. Finally, TheStreet downgraded shares of Foundation Building Materials from a “c-” rating to a “d+” rating in a report on Thursday, October 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $17.43.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. American Century Companies Inc. grew its stake in shares of Foundation Building Materials by 47.5% in the 3rd quarter. American Century Companies Inc. now owns 1,854,254 shares of the company’s stock worth $23,123,000 after buying an additional 597,531 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Foundation Building Materials by 0.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,112,780 shares of the company’s stock worth $13,876,000 after buying an additional 8,486 shares in the last quarter. BlackRock Inc. grew its stake in shares of Foundation Building Materials by 3.3% in the 3rd quarter. BlackRock Inc. now owns 810,460 shares of the company’s stock worth $10,106,000 after buying an additional 26,238 shares in the last quarter. Dalton Greiner Hartman Maher & Co. grew its stake in shares of Foundation Building Materials by 129.3% in the 3rd quarter. Dalton Greiner Hartman Maher & Co. now owns 508,799 shares of the company’s stock worth $6,345,000 after buying an additional 286,923 shares in the last quarter. Finally, Tygh Capital Management Inc. grew its stake in shares of Foundation Building Materials by 27.4% in the 2nd quarter. Tygh Capital Management Inc. now owns 498,279 shares of the company’s stock worth $7,664,000 after buying an additional 107,066 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Shares of NYSE FBM opened at $9.65 on Friday. The company has a debt-to-equity ratio of 2.14, a quick ratio of 1.60 and a current ratio of 2.86. The firm has a market capitalization of $422.52 million, a price-to-earnings ratio of 32.37 and a beta of 1.35. Foundation Building Materials has a 52-week low of $9.26 and a 52-week high of $16.40.

Foundation Building Materials Company Profile

Foundation Building Materials, Inc distributes building products in the United States and Canada. It operates through two segments, Specialty Building Products and Mechanical Insulation. The Specialty Building Products segment distributes wallboard, metal framing, suspended ceiling system, and other products.

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

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