Foundation Building Materials, Inc. (NYSE:FBM) – Stock analysts at SunTrust Banks dropped their Q1 2018 earnings estimates for Foundation Building Materials in a research note issued on Wednesday. SunTrust Banks analyst K. Hughes now expects that the company will post earnings per share of $0.00 for the quarter, down from their prior forecast of $0.08. SunTrust Banks also issued estimates for Foundation Building Materials’ FY2018 earnings at $0.50 EPS.
Foundation Building Materials (NYSE:FBM) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $0.08 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.08. Foundation Building Materials had a negative return on equity of 2.98% and a negative net margin of 0.11%. The business had revenue of $535.40 million for the quarter, compared to analyst estimates of $535.81 million. The business’s revenue was up 28.8% compared to the same quarter last year.
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Other equities research analysts have also issued research reports about the company. Royal Bank Of Canada boosted their price target on Foundation Building Materials from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 8th. Zacks Investment Research lowered Foundation Building Materials from a “hold” rating to a “sell” rating in a research note on Monday, September 25th. Barclays PLC dropped their price target 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. Robert W. Baird restated a “hold” rating and set a $15.00 price target on shares of Foundation Building Materials in a research note on Monday, October 9th. Finally, Deutsche Bank AG dropped their price target on Foundation Building Materials from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, August 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $18.43.
Shares of Foundation Building Materials (FBM) traded down $0.04 during mid-day trading on Monday, hitting $13.71. The stock had a trading volume of 103,300 shares, compared to its average volume of 228,681. Foundation Building Materials has a 1-year low of $11.03 and a 1-year high of $17.91. The company has a debt-to-equity ratio of 2.02, a quick ratio of 1.82 and a current ratio of 2.63.
Several institutional investors have recently added to or reduced their stakes in FBM. American Century Companies Inc. lifted its holdings in shares of Foundation Building Materials by 72.9% during the second quarter. American Century Companies Inc. now owns 1,092,729 shares of the company’s stock worth $14,052,000 after purchasing an additional 460,583 shares during the period. Alyeska Investment Group L.P. lifted its holdings in Foundation Building Materials by 47.0% in the third quarter. Alyeska Investment Group L.P. now owns 1,356,013 shares of the company’s stock valued at $19,174,000 after acquiring an additional 433,700 shares during the period. Paradigm Capital Management Inc. NY acquired a new position in Foundation Building Materials in the third quarter valued at approximately $5,178,000. Kennedy Capital Management Inc. purchased a new stake in shares of Foundation Building Materials in the second quarter valued at approximately $2,597,000. Finally, Citadel Advisors LLC increased its position in shares of Foundation Building Materials by 28.0% in the third quarter. Citadel Advisors LLC now owns 578,666 shares of the company’s stock valued at $8,182,000 after buying an additional 126,474 shares in the last quarter. 92.35% of the stock is owned by hedge funds and other institutional investors.
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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