SunTrust Banks Weighs in on Foundation Building Materials, Inc.’s Q1 2018 Earnings (FBM)

Foundation Building Materials, Inc. (NYSE:FBM) – Analysts at SunTrust Banks dropped their Q1 2018 earnings estimates for Foundation Building Materials in a research report issued on Wednesday. SunTrust Banks analyst K. Hughes now anticipates that the company will post earnings per share of $0.00 for the quarter, down from their previous estimate of $0.08. SunTrust Banks also issued estimates for Foundation Building Materials’ FY2018 earnings at $0.50 EPS.

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

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Other analysts have also issued reports about the stock. Royal Bank Of Canada reissued a “buy” rating and issued a $15.00 price objective on shares of Foundation Building Materials in a research report on Tuesday, October 10th. Deutsche Bank AG reduced their price objective on shares of Foundation Building Materials from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, August 9th. Zacks Investment Research raised shares of Foundation Building Materials from a “sell” rating to a “hold” rating in a research report on Wednesday, August 30th. Robert W. Baird reissued a “hold” rating and issued a $15.00 price objective on shares of Foundation Building Materials in a research report on Monday, October 9th. Finally, Barclays PLC reduced their price objective on shares of Foundation Building Materials from $19.00 to $17.00 and set an “overweight” rating on the stock in a research report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. Foundation Building Materials has a consensus rating of “Buy” and an average target price of $18.43.

Foundation Building Materials (NYSE FBM) opened at $13.75 on Monday. The company has a current ratio of 2.63, a quick ratio of 1.82 and a debt-to-equity ratio of 2.02. Foundation Building Materials has a 1-year low of $11.03 and a 1-year high of $17.91.

A number of institutional investors have recently bought and sold shares of FBM. American Century Companies Inc. raised its position in Foundation Building Materials by 72.9% in the 2nd quarter. American Century Companies Inc. now owns 1,092,729 shares of the company’s stock worth $14,052,000 after purchasing an additional 460,583 shares during the period. Paradigm Capital Management Inc. NY purchased a new stake in Foundation Building Materials in the 3rd quarter worth about $5,178,000. Kennedy Capital Management Inc. purchased a new position in shares of Foundation Building Materials during the second quarter worth approximately $2,597,000. Citadel Advisors LLC increased its position in shares of Foundation Building Materials by 28.0% during the third quarter. Citadel Advisors LLC now owns 578,666 shares of the company’s stock worth $8,182,000 after acquiring an additional 126,474 shares during the period. Finally, Northern Trust Corp increased its position in shares of Foundation Building Materials by 326.0% during the second quarter. Northern Trust Corp now owns 139,880 shares of the company’s stock worth $1,798,000 after acquiring an additional 107,048 shares during the period. 92.35% of the stock is currently owned by institutional investors.

Foundation Building Materials Company Profile

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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