Brokers Set Expectations for Foundation Building Materials, Inc.’s Q1 2018 Earnings (FBM)

Foundation Building Materials, Inc. (NYSE:FBM) – William Blair issued their Q1 2018 EPS estimates for shares of Foundation Building Materials in a note issued to investors on Tuesday. William Blair analyst R. Merkel forecasts that the company will post earnings per share of $0.03 for the quarter. William Blair also issued estimates for Foundation Building Materials’ Q2 2018 earnings at $0.12 EPS, Q3 2018 earnings at $0.13 EPS, Q4 2018 earnings at $0.07 EPS, FY2018 earnings at $0.35 EPS and FY2019 earnings at $0.63 EPS.

A number of other equities analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Foundation Building Materials from a “sell” rating to a “hold” rating in a report on Wednesday, August 30th. Barclays PLC cut their price target 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 price target 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. Robert W. Baird reissued a “hold” rating and issued a $15.00 price target on shares of Foundation Building Materials in a report on Monday, October 9th. Finally, Deutsche Bank AG cut their price target on shares of Foundation Building Materials from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. Foundation Building Materials presently has an average rating of “Buy” and a consensus price target of $18.43.

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Foundation Building Materials (NYSE:FBM) opened at $13.95 on Friday. The company has a current ratio of 2.63, a quick ratio of 1.76 and a debt-to-equity ratio of 2.02. Foundation Building Materials has a fifty-two week low of $11.03 and a fifty-two week high of $17.91.

Foundation Building Materials (NYSE:FBM) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $0.08 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.08. The company had revenue of $535.40 million for the quarter, compared to the consensus estimate of $535.81 million. Foundation Building Materials had a negative net margin of 0.11% and a negative return on equity of 2.98%. The firm’s revenue for the quarter was up 28.8% compared to the same quarter last year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parametric Portfolio Associates LLC purchased a new stake in Foundation Building Materials during the first quarter valued at about $1,256,000. JPMorgan Chase & Co. purchased a new stake in Foundation Building Materials during the first quarter valued at about $133,000. Prudential Financial Inc. purchased a new stake in Foundation Building Materials during the second quarter valued at about $282,000. TIAA CREF Investment Management LLC purchased a new stake in Foundation Building Materials during the first quarter valued at about $333,000. Finally, Kennedy Capital Management Inc. purchased a new stake in Foundation Building Materials during the second quarter valued at about $2,597,000. 91.44% of the stock is currently owned by institutional investors and hedge funds.

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.

Earnings History and Estimates for Foundation Building Materials (NYSE:FBM)

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