Analysts expect that Foundation Building Materials Inc (NYSE:FBM) will report earnings of $0.02 per share for the current quarter, Zacks reports. Five analysts have made estimates for Foundation Building Materials’ earnings, with the highest EPS estimate coming in at $0.05 and the lowest estimate coming in at ($0.01). Foundation Building Materials reported earnings per share of ($0.29) in the same quarter last year, which would indicate a positive year over year growth rate of 106.9%. The company is expected to report its next earnings report before the market opens on Tuesday, February 27th.
According to Zacks, analysts expect that Foundation Building Materials will report full year earnings of $0.18 per share for the current fiscal year, with EPS estimates ranging from $0.15 to $0.21. For the next fiscal year, analysts forecast that the company will report earnings of $0.48 per share, with EPS estimates ranging from $0.37 to $0.62. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover Foundation Building Materials.
A number of equities research analysts recently commented on FBM shares. Barclays set a $19.00 price objective on shares of Foundation Building Materials and gave the stock a “buy” rating in a report on Sunday, January 7th. Zacks Investment Research lowered shares of Foundation Building Materials from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Robert W. Baird restated a “hold” rating and set a $16.00 price objective on shares of Foundation Building Materials in a report on Friday, November 10th. Royal Bank of Canada raised their price objective on shares of Foundation Building Materials from $15.00 to $17.00 and gave the stock an “outperform” rating in a report on Wednesday, November 8th. Finally, Citigroup raised their target price on shares of Foundation Building Materials from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Three analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $18.43.
Shares of Foundation Building Materials (NYSE:FBM) traded down $0.06 during trading hours on Friday, hitting $13.84. 107,680 shares of the company were exchanged, compared to its average volume of 101,451. Foundation Building Materials has a fifty-two week low of $11.03 and a fifty-two week high of $17.91. The company has a current ratio of 2.63, a quick ratio of 1.82 and a debt-to-equity ratio of 2.02. The firm has a market capitalization of $593.26 and a price-to-earnings ratio of -106.46.
A number of institutional investors have recently added to or reduced their stakes in FBM. Schwab Charles Investment Management Inc. grew its position in Foundation Building Materials by 100.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 49,328 shares of the company’s stock valued at $635,000 after purchasing an additional 24,666 shares in the last quarter. Bank of New York Mellon Corp grew its position in Foundation Building Materials by 40.6% in the second quarter. Bank of New York Mellon Corp now owns 45,653 shares of the company’s stock valued at $587,000 after purchasing an additional 13,191 shares in the last quarter. Swiss National Bank bought a new position in Foundation Building Materials in the second quarter valued at $322,000. Wells Fargo & Company MN grew its position in Foundation Building Materials by 58.0% in the second quarter. Wells Fargo & Company MN now owns 25,870 shares of the company’s stock valued at $333,000 after purchasing an additional 9,500 shares in the last quarter. Finally, Alliancebernstein L.P. bought a new position in Foundation Building Materials in the second quarter valued at $208,000. 95.96% of the stock is owned by institutional investors and hedge funds.
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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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