Zacks: Analysts Expect Foundation Building Materials (FBM) Will Post Quarterly Sales of $584.04 Million

Brokerages expect Foundation Building Materials (NYSE:FBM) to report sales of $584.04 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Foundation Building Materials’ earnings, with estimates ranging from $574.30 million to $588.87 million. Foundation Building Materials posted sales of $529.23 million during the same quarter last year, which suggests a positive year-over-year growth rate of 10.4%. The company is scheduled to report its next earnings report on Thursday, August 2nd.

On average, analysts expect that Foundation Building Materials will report full-year sales of $2.26 billion for the current fiscal year, with estimates ranging from $2.25 billion to $2.28 billion. For the next financial year, analysts expect that the company will post sales of $2.40 billion per share, with estimates ranging from $2.38 billion to $2.42 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Foundation Building Materials.

Foundation Building Materials (NYSE:FBM) last issued its quarterly earnings data on Wednesday, May 9th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.01. Foundation Building Materials had a net margin of 3.66% and a return on equity of 3.74%. The company had revenue of $536.30 million for the quarter, compared to the consensus estimate of $533.99 million. During the same period last year, the firm posted ($0.02) EPS. Foundation Building Materials’s revenue for the quarter was up 11.8% on a year-over-year basis.

Several research analysts have issued reports on the stock. UBS raised shares of Foundation Building Materials from an “outperform” rating to a “strong-buy” rating in a research report on Thursday, February 8th. Zacks Investment Research downgraded shares of Foundation Building Materials from a “buy” rating to a “hold” rating in a research report on Friday, March 9th. Raymond James raised shares of Foundation Building Materials from an “outperform” rating to a “strong-buy” rating and set a $20.00 price objective on the stock in a research report on Thursday, February 8th. Citigroup raised their price objective on shares of Foundation Building Materials from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Finally, Deutsche Bank lowered their price objective on shares of Foundation Building Materials from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, April 9th. Two equities research analysts have rated the stock with a hold rating, four have issued 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 $17.57.

Foundation Building Materials stock traded down $0.05 during midday trading on Monday, hitting $14.63. 60,750 shares of the company’s stock were exchanged, compared to its average volume of 99,906. Foundation Building Materials has a 12-month low of $11.03 and a 12-month high of $16.40. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.65 and a current ratio of 2.48. The company has a market capitalization of $629.68 million, a P/E ratio of 48.77 and a beta of 0.34.

Several large investors have recently modified their holdings of FBM. Tygh Capital Management Inc. boosted its holdings in shares of Foundation Building Materials by 438.1% in the fourth quarter. Tygh Capital Management Inc. now owns 394,114 shares of the company’s stock valued at $5,829,000 after acquiring an additional 320,874 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of Foundation Building Materials in the first quarter valued at about $3,197,000. Driehaus Capital Management LLC boosted its holdings in shares of Foundation Building Materials by 58.6% in the fourth quarter. Driehaus Capital Management LLC now owns 533,738 shares of the company’s stock valued at $7,894,000 after acquiring an additional 197,162 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Foundation Building Materials by 7,379.6% in the fourth quarter. Clearbridge Investments LLC now owns 188,487 shares of the company’s stock valued at $2,788,000 after acquiring an additional 185,967 shares in the last quarter. Finally, SG Capital Management LLC purchased a new stake in shares of Foundation Building Materials in the fourth quarter valued at about $2,442,000. 94.30% of the stock is currently owned by institutional investors and hedge funds.

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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