Foundation Building Materials, Inc. (NYSE:FBM) – Equities research analysts at SunTrust Banks lowered their Q3 2017 earnings per share (EPS) estimates for shares of Foundation Building Materials in a research note issued to investors on Monday. SunTrust Banks analyst K. Hughes now anticipates that the company will post earnings of $0.18 per share for the quarter, down from their prior estimate of $0.21. SunTrust Banks also issued estimates for Foundation Building Materials’ Q4 2017 earnings at $0.11 EPS, Q1 2018 earnings at $0.08 EPS, Q2 2018 earnings at $0.17 EPS, Q3 2018 earnings at $0.32 EPS and Q4 2018 earnings at $0.22 EPS.
Foundation Building Materials (NYSE:FBM) last released its quarterly earnings data on Thursday, August 3rd. The company reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.11. The firm had revenue of $529.20 million for the quarter, compared to analysts’ expectations of $536.72 million. The company’s revenue for the quarter was up 95.9% on a year-over-year basis.
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A number of other equities analysts have also recently commented on the stock. Barclays PLC cut their target price on shares of Foundation Building Materials from $19.00 to $17.00 and set an “overweight” rating on the stock in a report on Friday, August 4th. Royal Bank Of Canada cut their target price on shares of Foundation Building Materials from $20.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, August 4th. Finally, Zacks Investment Research cut shares of Foundation Building Materials from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $18.86.
Shares of Foundation Building Materials (NYSE FBM) opened at 11.55 on Tuesday. The firm’s market cap is $495.09 million. The stock has a 50 day moving average of $12.57 and a 200-day moving average of $14.70. Foundation Building Materials has a 1-year low of $11.12 and a 1-year high of $17.91.
A number of institutional investors have recently made changes to their positions in FBM. Goldman Sachs Group Inc. purchased a new position in shares of Foundation Building Materials during the first quarter valued at about $31,986,000. Massachusetts Financial Services Co. MA purchased a new position in shares of Foundation Building Materials during the first quarter valued at about $11,163,000. Neuberger Berman Group LLC purchased a new position in shares of Foundation Building Materials during the first quarter valued at about $10,117,000. American Century Companies Inc. purchased a new position in shares of Foundation Building Materials during the first quarter valued at about $10,095,000. Finally, Principal Financial Group Inc. purchased a new position in shares of Foundation Building Materials during the first quarter valued at about $9,582,000. 91.02% of the stock is currently owned by institutional investors.
In other Foundation Building Materials news, insider Ruben Mendoza bought 14,000 shares of the business’s stock in a transaction dated Friday, May 26th. The shares were acquired at an average cost of $13.98 per share, with a total value of $195,720.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO John Gorey acquired 10,000 shares of the company’s stock in a transaction on Thursday, May 18th. The stock was purchased at an average cost of $14.49 per share, for a total transaction of $144,900.00. The disclosure for this purchase can be found here. Insiders bought a total of 56,528 shares of company stock worth $846,016 over the last ninety days.
About Foundation Building Materials
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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