Brokerages Anticipate Foundation Building Materials Inc (FBM) to Announce $0.08 EPS

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Equities analysts predict that Foundation Building Materials Inc (NYSE:FBM) will report $0.08 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Foundation Building Materials’ earnings, with the highest EPS estimate coming in at $0.11 and the lowest estimate coming in at $0.05. Foundation Building Materials posted earnings of $0.01 per share during the same quarter last year, which would indicate a positive year over year growth rate of 700%. The business is scheduled to announce its next earnings report after the market closes on Monday, May 6th.

According to Zacks, analysts expect that Foundation Building Materials will report full-year earnings of $0.86 per share for the current financial year, with EPS estimates ranging from $0.80 to $0.97. For the next year, analysts expect that the firm will report earnings of $1.10 per share, with EPS estimates ranging from $0.93 to $1.17. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that follow Foundation Building Materials.

Foundation Building Materials (NYSE:FBM) last announced its earnings results on Monday, February 25th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.04. Foundation Building Materials had a negative net margin of 0.55% and a positive return on equity of 5.76%. The business had revenue of $516.20 million during the quarter, compared to the consensus estimate of $510.54 million. During the same quarter in the prior year, the firm earned $0.19 earnings per share. The business’s quarterly revenue was up 16.3% compared to the same quarter last year.

Several brokerages have recently commented on FBM. Zacks Investment Research upgraded shares of Foundation Building Materials from a “sell” rating to a “hold” rating in a research note on Thursday, December 27th. Credit Suisse Group assumed coverage on shares of Foundation Building Materials in a report on Friday, January 11th. They set a “neutral” rating and a $9.00 price objective for the company. ValuEngine downgraded shares of Foundation Building Materials from a “hold” rating to a “sell” rating in a report on Wednesday, January 16th. Finally, Barclays upped their price objective on shares of Foundation Building Materials from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Wednesday, February 27th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $14.80.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in shares of Foundation Building Materials by 3.3% during 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 during the period. Clearbridge Investments LLC raised its holdings in shares of Foundation Building Materials by 552.3% in the third quarter. Clearbridge Investments LLC now owns 1,219,735 shares of the company’s stock valued at $15,210,000 after purchasing an additional 1,032,755 shares during the last quarter. Prudential Financial Inc. raised its holdings in shares of Foundation Building Materials by 3.0% in the fourth quarter. Prudential Financial Inc. now owns 64,925 shares of the company’s stock valued at $540,000 after purchasing an additional 1,875 shares during the last quarter. TIAA CREF Investment Management LLC raised its holdings in shares of Foundation Building Materials by 13.2% in the third quarter. TIAA CREF Investment Management LLC now owns 140,987 shares of the company’s stock valued at $1,758,000 after purchasing an additional 16,393 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Foundation Building Materials by 10.1% in the fourth quarter. Victory Capital Management Inc. now owns 108,800 shares of the company’s stock valued at $904,000 after purchasing an additional 10,000 shares during the last quarter. 90.51% of the stock is owned by institutional investors and hedge funds.

Shares of FBM traded up $0.34 during mid-day trading on Thursday, hitting $13.34. 7,082 shares of the company’s stock were exchanged, compared to its average volume of 99,720. Foundation Building Materials has a fifty-two week low of $7.62 and a fifty-two week high of $16.32. The company has a market capitalization of $556.29 million, a price-to-earnings ratio of 38.49 and a beta of 1.53. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.63 and a current ratio of 2.39.

About Foundation Building Materials

Foundation Building Materials, Inc distributes building products in the United States and Canada. It offers wallboard, suspended ceiling system, and metal framing products. The company also provides complementary and other products, tools, and accessories, such as wallboard accessories, stucco and finishing systems, safety accessories, fasteners, insulations, doors, and roofing products.

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