Zacks: Analysts Expect Foundation Building Materials Inc (NYSE:FBM) Will Post Quarterly Sales of $574.72 Million

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Wall Street analysts expect Foundation Building Materials Inc (NYSE:FBM) to report $574.72 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Foundation Building Materials’ earnings. The lowest sales estimate is $565.00 million and the highest is $585.90 million. Foundation Building Materials reported sales of $604.97 million during the same quarter last year, which indicates a negative year-over-year growth rate of 5%. The firm is expected to report its next quarterly earnings results on Thursday, August 8th.

On average, analysts expect that Foundation Building Materials will report full-year sales of $2.23 billion for the current fiscal year, with estimates ranging from $2.20 billion to $2.25 billion. For the next fiscal year, analysts forecast that the company will report sales of $2.32 billion, with estimates ranging from $2.26 billion to $2.39 billion. Zacks’ sales calculations are a mean 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, May 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.05. Foundation Building Materials had a positive return on equity of 7.22% and a negative net margin of 0.35%. The business had revenue of $514.87 million for the quarter, compared to analyst estimates of $509.19 million. During the same quarter last year, the firm earned ($0.03) EPS. Foundation Building Materials’s revenue for the quarter was up 11.0% compared to the same quarter last year.

FBM has been the topic of a number of recent research reports. Zacks Investment Research lowered Foundation Building Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, February 27th. Barclays lifted their target price on Foundation Building Materials from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Wednesday, February 27th. ValuEngine raised Foundation Building Materials from a “sell” rating to a “hold” rating in a research report on Thursday, April 11th. Finally, TheStreet raised Foundation Building Materials from a “d+” rating to a “c” rating in a research report on Friday, April 26th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $14.40.

Foundation Building Materials stock traded up $0.03 during midday trading on Tuesday, reaching $15.38. The stock had a trading volume of 181,965 shares, compared to its average volume of 227,639. Foundation Building Materials has a 1-year low of $7.62 and a 1-year high of $16.32. The firm has a market cap of $661.16 million, a PE ratio of 43.94 and a beta of 1.36. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.40 and a current ratio of 2.05.

Hedge funds have recently bought and sold shares of the business. BNP Paribas Arbitrage SA grew its stake in Foundation Building Materials by 680.0% in the first quarter. BNP Paribas Arbitrage SA now owns 3,081 shares of the company’s stock valued at $30,000 after purchasing an additional 2,686 shares in the last quarter. Citigroup Inc. grew its stake in Foundation Building Materials by 24.9% in the first quarter. Citigroup Inc. now owns 5,664 shares of the company’s stock valued at $56,000 after purchasing an additional 1,128 shares in the last quarter. Parametric Portfolio Associates LLC grew its stake in Foundation Building Materials by 9.2% in the first quarter. Parametric Portfolio Associates LLC now owns 11,749 shares of the company’s stock valued at $116,000 after purchasing an additional 989 shares in the last quarter. Raymond James & Associates bought a new position in Foundation Building Materials in the first quarter valued at approximately $120,000. Finally, Zebra Capital Management LLC grew its stake in Foundation Building Materials by 8.0% in the first quarter. Zebra Capital Management LLC now owns 14,097 shares of the company’s stock valued at $139,000 after purchasing an additional 1,048 shares in the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

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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