Foundation Building Materials (NYSE:FBM) Updates FY 2019 Earnings Guidance

Foundation Building Materials (NYSE:FBM) updated its FY 2019 earnings guidance on Monday. The company provided earnings per share guidance of $0.80-1.00 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.89. The company issued revenue guidance of $2.1-2.25 billion, compared to the consensus revenue estimate of $2.22 billion.Foundation Building Materials also updated its FY19 guidance to $0.80-1.00 EPS.

Shares of FBM stock traded up $0.06 during mid-day trading on Wednesday, hitting $17.01. 190,148 shares of the stock traded hands, compared to its average volume of 197,026. The stock has a market capitalization of $728.21 million, a PE ratio of 48.60 and a beta of 1.48. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.40 and a current ratio of 2.05. The stock’s fifty day moving average price is $17.03. Foundation Building Materials has a 52-week low of $7.62 and a 52-week high of $18.21.

Foundation Building Materials (NYSE:FBM) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.25 by $0.12. The business had revenue of $559.91 million for the quarter, compared to analyst estimates of $574.68 million. Foundation Building Materials had a positive return on equity of 7.22% and a negative net margin of 0.35%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.08 EPS. As a group, sell-side analysts expect that Foundation Building Materials will post 0.8 earnings per share for the current fiscal year.

FBM has been the subject of several analyst reports. ValuEngine upgraded Foundation Building Materials from a sell rating to a hold rating in a research note on Thursday, April 11th. TheStreet raised Foundation Building Materials from a d+ rating to a c rating in a report on Friday, April 26th. Finally, Zacks Investment Research lowered Foundation Building Materials from a buy rating to a hold rating in a research note on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $13.67.

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

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