Federal Signal Corporation (FSS) Hits New 52-Week High After Better-Than-Expected Earnings

Federal Signal Corporation (NYSE:FSS)’s share price hit a new 52-week high on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $19.48 and last traded at $19.41, with a volume of 499,381 shares changing hands. The stock had previously closed at $18.51.

The conglomerate reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. Federal Signal Corporation had a net margin of 5.20% and a return on equity of 10.59%. The business had revenue of $224.40 million for the quarter, compared to the consensus estimate of $206.53 million. During the same period in the prior year, the business posted $0.17 earnings per share. Federal Signal Corporation’s revenue for the quarter was up 30.2% compared to the same quarter last year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 6th. Shareholders of record on Tuesday, August 15th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Friday, August 11th. Federal Signal Corporation’s payout ratio is 42.42%.

Several equities analysts have commented on the stock. BidaskClub raised shares of Federal Signal Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Zacks Investment Research downgraded shares of Federal Signal Corporation from a “buy” rating to a “hold” rating in a research report on Monday, May 29th. KeyCorp upgraded shares of Federal Signal Corporation from a “sector weight” rating to an “overweight” rating and set a $20.00 price target for the company in a report on Tuesday, May 9th. Finally, TheStreet upgraded shares of Federal Signal Corporation from a “c” rating to a “b-” rating in a report on Thursday, April 27th. Four equities research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average price target of $20.50.

In related news, Director Paul W. Jones sold 50,000 shares of the stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $15.96, for a total value of $798,000.00. Following the completion of the transaction, the director now owns 72,901 shares of the company’s stock, valued at $1,163,499.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Samuel Miceli sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $16.05, for a total transaction of $32,100.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,900 shares of company stock valued at $844,662. 4.20% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of the stock. Pinebridge Investments L.P. raised its stake in shares of Federal Signal Corporation by 1.1% in the second quarter. Pinebridge Investments L.P. now owns 7,876 shares of the conglomerate’s stock worth $137,000 after buying an additional 86 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Federal Signal Corporation by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 24,300 shares of the conglomerate’s stock worth $336,000 after buying an additional 200 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Federal Signal Corporation by 1.0% in the first quarter. Arizona State Retirement System now owns 31,132 shares of the conglomerate’s stock worth $430,000 after buying an additional 300 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in shares of Federal Signal Corporation by 3.0% in the second quarter. Municipal Employees Retirement System of Michigan now owns 14,080 shares of the conglomerate’s stock worth $244,000 after buying an additional 410 shares in the last quarter. Finally, Texas Permanent School Fund raised its stake in shares of Federal Signal Corporation by 1.0% in the second quarter. Texas Permanent School Fund now owns 43,651 shares of the conglomerate’s stock worth $758,000 after buying an additional 412 shares in the last quarter. 81.44% of the stock is owned by institutional investors and hedge funds.

The firm’s 50 day moving average price is $18.17 and its 200 day moving average price is $16.01. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 28.03 and a beta of 1.37.

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About Federal Signal Corporation

Federal Signal Corporation designs, manufactures and supplies a suite of products and integrated solutions for municipal, governmental, industrial and commercial customers. The Company’s segments include the Environmental Solutions Group and the Safety and Security Systems Group. Its Environmental Solutions Group manufactures and supplies a range of street sweeper vehicles, sewer cleaner and vacuum loader trucks, hydro-excavation trucks and waterblasting equipment.

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