Equities research analysts predict that Foundation Building Materials Inc (NYSE:FBM) will announce $582.94 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Foundation Building Materials’ earnings, with the highest sales estimate coming in at $604.10 million and the lowest estimate coming in at $525.00 million. Foundation Building Materials posted sales of $535.45 million in the same quarter last year, which would indicate a positive year over year growth rate of 8.9%. The business is scheduled to report its next quarterly earnings report on Tuesday, November 6th.

On average, analysts expect that Foundation Building Materials will report full-year sales of $2.24 billion for the current financial year, with estimates ranging from $2.01 billion to $2.32 billion. For the next year, analysts forecast that the business will post sales of $2.39 billion, with estimates ranging from $2.13 billion to $2.48 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Foundation Building Materials.

Foundation Building Materials (NYSE:FBM) last issued its quarterly earnings results on Thursday, August 9th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.06). The company had revenue of $605.00 million for the quarter, compared to analyst estimates of $586.66 million. Foundation Building Materials had a return on equity of 5.15% and a net margin of 3.72%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.03 EPS.

A number of brokerages recently issued reports on FBM. Deutsche Bank increased their price target on Foundation Building Materials from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, June 25th. Evercore ISI started coverage on Foundation Building Materials in a report on Thursday, June 28th. They issued an “in-line” rating and a $17.00 target price on the stock. Zacks Investment Research raised Foundation Building Materials from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Tuesday, July 10th. Finally, Barclays reduced their target price on Foundation Building Materials from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, August 13th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $17.63.

Several hedge funds have recently modified their holdings of FBM. Victory Capital Management Inc. bought a new position in shares of Foundation Building Materials in the 1st quarter valued at $1,217,000. Prudential Financial Inc. lifted its stake in shares of Foundation Building Materials by 58.3% in the 1st quarter. Prudential Financial Inc. now owns 129,180 shares of the company’s stock valued at $1,926,000 after acquiring an additional 47,600 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Foundation Building Materials by 4.3% in the 1st quarter. BlackRock Inc. now owns 731,887 shares of the company’s stock valued at $10,911,000 after acquiring an additional 30,335 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Foundation Building Materials by 115.6% in the 1st quarter. JPMorgan Chase & Co. now owns 26,429 shares of the company’s stock valued at $394,000 after acquiring an additional 14,168 shares during the last quarter. Finally, Citigroup Inc. lifted its stake in shares of Foundation Building Materials by 254.0% in the 1st quarter. Citigroup Inc. now owns 7,189 shares of the company’s stock valued at $107,000 after acquiring an additional 5,158 shares during the last quarter. 92.52% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:FBM traded up $0.07 during trading hours on Friday, reaching $12.56. 78,650 shares of the company were exchanged, compared to its average volume of 110,854. The company has a market capitalization of $534.89 million, a P/E ratio of 41.87 and a beta of 0.26. Foundation Building Materials has a 1-year low of $11.78 and a 1-year high of $16.40. The company has a debt-to-equity ratio of 1.66, a current ratio of 2.41 and a quick ratio of 1.60.

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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